Auto insurance can be a blessing and a curse. This can be a blessing as it can help protect you and your car in the event of an accident. It can also be a curse because it can be expensive.
In Florida, for example, drivers pay an average of $2,364 per year for comprehensive coverage. By comparison, that’s 41% more than the annual national average of $1,674. However, that doesn’t mean Florida car owners can’t find cheap car insurance.
Below are some helpful tips for finding affordable car insurance in Florida.
1. Don’t assume one company is the cheapest
Your state and city can significantly affect your insurance estimate. So comparing estimates from different companies can help you find the cheapest one in your area.
For example, Progressive Insurance is among the more affordable options in California, while in Florida it is actually more expensive. You can use an online quote tool to get free car insurance quotes from several companies. Collect as many quotes as possible so you can really compare insurer rates.
2. Ask about discounts
Drivers can easily leave savings on the table by not asking their insurance company for a discount. Some car insurance companies even offer discounts for students, seniors, etc. There is a lot of factors that can influence your car insurance rate. Improving your driving record can also lead to lower rates over time. So be sure to ask about discounts and credits.
3. Consider usage-based or pay-per-mile insurance
If you don’t drive your car often or only drive in certain areas, usage-based insurance might be right for you. This type of insurance charges drivers based on the number of miles they drive. If you only drive a few miles each month, you can potentially save a lot of money.
4. Examine the cover carefully
There are many insurance options that can be included in your policy, such as collision coverage. Collision insurance can be helpful if you total up your car, but it can also be expensive and unnecessary. The usefulness of the coverage also depends on your vehicle and its value. Review your policy and make sure you’re only paying for the coverage you need.
5. Bundle your insurance policies
Many insurance companies offer discounts to those who bundle their insurance policies. For example, you can save money on car insurance by also having home or renter’s insurance with the same company.
The downside is that you can only save money if your insurance company offers a discount for bundled policies.
Tips for getting lower insurance premiums
Finding the cheapest auto insurance is one way to save money, but there are a few steps you can take to lower your risk profile and negotiate a lower premium.
1. Respect the rules of the road
The easiest way to reduce your risk profile is to follow the rules of the road. Drivers without tickets, DUIs or at-fault accidents pay less for car insurance. Depending on your insurer, you can save up to 10% on your monthly premium. So be sure to obey all the rules of the road. Avoid risky behaviors like speeding or driving while drunk or tired.
2. Improve your credit score
If you have bad credit, it can be difficult to get low interest rates for car loans or other types of debt. Fixing your credit score can help you qualify for a lower annual premium on your car insurance.
Here are some tips to help you improve your credit rating:
Pay your bills on time.
- Keep your credit usage low.
- Don’t open too many new bank accounts at once.
- Check your credit report for errors.
If you follow these tips, you can work to improve your credit score over time and save money on car insurance.
3. Pay your premiums in full
Some car insurers offer a discount to drivers who pay their premiums in advance. While this isn’t a viable option for everyone, it’s worth asking your insurance company about it. You can usually choose to pay several months in advance, which will reduce the total bill. It will also reduce the risk of you missing a payment and having your policy voided.
4. Increase your deductible
A deductible is the amount of money you have to pay out of pocket before your insurance company starts covering the costs. Raising your deductible can be a great way to lower your monthly premiums.
5. Buy only the minimum required by the state
Drivers are required to have some type of liability insurance in Florida. Liability insurance protects you if you cause an accident and someone else is injured or their property is damaged. However, you don’t need to buy more coverage than the state requires.
The State of Florida requires drivers to have minimum coverage of $10,000 for personal injury protection and $10,000 for property damage liability. You can always choose to buy more coverage if you feel you need it, but starting with the state minimums is a great way to save money.
Find cheap car insurance in Florida
Auto insurance is an important part of owning a vehicle, but most people don’t want to pay more than necessary for coverage. Finding cheap auto insurance in Florida doesn’t have to be difficult. With a little effort, you can find a policy that fits your budget. These tips can help you find cheap car insurance and save money on your premiums.