Introduction
Finding the right auto insurance in Florida can be a daunting task given the large number of options. With over 200 insurance companies offering coverage in the state, it’s important to shop around and compare policies to find the best value. The type of coverage, cost, financial stability of the insurer, and customer service should all be taken into account when selecting an auto insurance provider in Florida. This article will break down the key factors to consider when choosing the best auto insurance in Florida.
Cost of Auto Insurance in Florida
The cost of auto insurance in Florida is higher than the national average. According to the National Association of Insurance Commissioners (NAIC), the average annual expenditure for auto insurance in Florida is $1,498 which is almost 20% higher than the national average of $1,250. The higher premiums are likely due to the state’s high rate of auto accidents and uninsured motorists. The base liability coverage required in Florida is:
- $10,000 for personal injury protection (PIP)
- $10,000 for property damage liability (PDL)
- $10,000 for bodily injury liability per person
- $20,000 for bodily injury liability per accident
However, experts recommend getting more than the minimum liability limits for better protection. When getting quotes, make sure to get the same coverage amounts so you can accurately compare pricing between insurers.
Factors That Affect Auto Insurance Costs in Florida
Many factors determine how much you’ll pay for car insurance in Florida. Key considerations include:
Driving and credit history: Insurers will review driving violations, accidents, DUIs and your credit-based insurance score when pricing your policy. Maintaining a clean record can significantly lower premiums.
Location: Insurance rates vary widely by zip code and county depending on accident frequencies and auto theft rates. Urban areas like Miami tend to have higher premiums.
Marital status: Married drivers tend to get lower premiums than single drivers.
Vehicle make/model: Premiums are higher for new cars, sports cars and vehicles with high accident or theft rates. Going with an older, less expensive car can save money on insurance.
Coverage limits: Higher liability and collision coverage limits will increase your premium but also give you better protection. Only get what you need.
Deductible amount: Choosing a higher deductible like $500 or $1000 lowers the premium but increases your out-of-pocket costs in the event of a claim.
Discounts:Take advantage of all eligible discounts like multi-policy, safe driver, and good student discounts.
Getting quotes from multiple top insurers is the best way to find the lowest rate tailored to your specific situation. Be sure to reassess your coverage each renewal period.
Top Auto Insurers in Florida
While there are many insurance companies competing for business in Florida, some top insurers tend to provide competitive pricing and strong customer satisfaction. Here are some of the top auto insurance companies in Florida to consider:
State Farm: State Farm is the largest auto insurer in Florida with over 2 million policies in force. It offers standard discounts and has received positive ratings for customer service and claims handling.
GEICO GEICO: is the second largest auto insurer in the state. It offers low rates along with extensive discount opportunities that can reduce premiums.
Progressive: Progressive provides innovative features like the Name Your Price tool and Snapshot to help find significant savings. It’s known for competitive pricing.
Allstate: Allstate features excellent financial strength and claims satisfaction ratings. Bundling with homeowners or renters insurance can help save up to 25%.
Travelers:Travelers offers competitive pricing along with a host of discounts for multi-policy, safe driving, good student, and more.
When comparing rates, be sure to get quotes from both national insurers and local Florida insurance companies. Local insurers like United Auto Insurance Company and Castle Key Insurance Company can provide competitive pricing on Florida auto insurance tailored for the region.
Auto Insurance Discounts in Florida
Taking advantage of all possible discounts is the best way to lower your car insurance premium in Florida. Here are some top discounts to look out for:
Safe driver: For drivers with no accidents or violations in 3+ years
Good student: If you keep a B average or better
Defensive driver: For completing an approved safety course
Multi-policy: For bundling auto with home/renters policies
Multi-car: For insuring more than one car on the same policy
Low mileage: If you drive below a stated mileage threshold
Paid-in-full: For paying the full 6-month or 12-month premium upfront
Advance shopper: For getting quotes before your current policy expires
Paperless billing and automatic payments** – For opting into electronic billing and recurring withdrawals
Make sure to inquire about all possible discounts offered by the insurer and provide proof when required. Applying qualifying discounts can potentially reduce your premium by up to 30% in Florida.
Auto Insurance Requirements in Florida
Under Florida law, all drivers are need to carry:
- $10,000 in Personal Injury Protection (PIP) to cover medical cost
- $10,000 in Property Damage Liability (PDL)
- $10,000 in Bodily Injury Liability per person
- $20,000 in Bodily Injury Liability per accident
This mandatory minimum PDL coverage only pays for damage that you cause to another person’s car or property. It does NOT cover damage to your own vehicle in an accident you cause. That requires collision and comprehensive coverage which are optional forms of protection in Florida.
Uninsured Motorist Bodily Injury (UMBI) coverage is also required in Florida unless expressly rejected in writing. UMBI covers injuries to you or passengers if you’re hit by a driver with no insurance.
Florida is a no-fault state meaning your own insurer will pay medical expenses regardless of who caused the accident. Drivers are also required to purchase Medical Payments (MedPay) or Personal Injury Protection (PIP) to extend this no-fault coverage.
How to Get the Best Rate on Florida Auto Insurance
Here are some top tips for getting the lowest insurance rate in Florida:
Shop around: Get quotes from at least 5 insurers including major national and local companies. Rates can vary widely for the same coverage.
Maintain good credit: Having a clean credit history can significantly reduce your premiums in Florida. Monitoring your credit report and resolving errors can help improve your score.
Ask about discounts: Don’t forget to inquire about all possible discounts and provide proof to qualify for maximum savings.
Raise deductibles:Using higher deductibles like $500, $750 or $1000 can substantially lower your premium. Just make sure you have savings to cover the out-of-pocket costs in a claim.
Limit coverage: on older cars Consider dropping collision and/or comprehensive coverage on older cars worth less than 10 times the premium.
Buy policy well before renewal: Get quotes about a month before your policy expires to secure the advance shopper discount.
Enroll in telematics program: Insurers like Progressive and Allstate offer programs to track your driving for big discounts.
Maintain good driving record: Avoid accidents, DUIs and traffic violations which can nearly double your premium. Take a defensive driving course for additional savings opportunities.
Following these tips can help Florida drivers get the lowest possible premium while still maintaining adequate protection. Be sure to reassess your coverage each renewal cycle.
How to box an Auto Insurance Claim in Florida
If you need to file an auto insurance claim in Florida, here are some important steps to take:
Report the accident to your insurance company right gone. Provide details like the date, location, other parties involved, injuries sustained, and damages. This starts the claims process.
- Notify the police, especially if there are injuries. Get a copy of the accident report which will be needed for your claim.
- Take photos of the accident point, damage to vehicles, and injuries. These help document your claim.
- Don’t admit fault or make statements about the accident to anyone other than the police.
- Cooperate fully with your insurer’s investigation of the claim. Provide any evidence requested and complete necessary paperwork.
- Keep records of all related expenses like medical bills, car repairs, and rental cars which may be reimbursable by insurance.
- For injuries, seek medical treatment right away and follow prescribed treatment plans.
- To start the process for repairs, get a repair estimate from a licensed auto body shop of your choice. Your insurer will send an adjustor to inspect damages and approve a final estimate.
- For total loss claims, work with your insurer’s valuations to settle on the Actual Cash Value payout you’ll receive.
- Review the claim settlement offered by your insurance company and appeal if you believe it’s unfair.
Following the proper procedures from start to finish is crucial for getting your auto insurance claim processed promptly and fairly in Florida. Connect with your insurer anytime for help.
Tips for Finding the Best Auto Insurance in Florida
Finding the ideal auto insurance policy involves more than just getting the lowest rates. Here are some top tips for finding the best overall auto insurance in Florida:
- Make sure the insurer is licensed in Florida and has strong financial ratings. Look at ratings from A.M. Best and Standard & Poor’s.
- Check out customer satisfaction ratings on sites like J.D. Power & Associates. High ratings indicate happier customers.
- Look for an insurer that offers plenty of discount opportunities to lower your premium.
- Consider the claims servicing reputation of insurers based on ratings and reviews.
- Shop local Florida insurers in addition to large national brands. Local companies can provide competitive pricing.
- Get quotes from insurers that offer accident forgiveness and vanishing deductibles to avoid premium hikes after a claim.
- Consider adding rideshare coverage if you drive for Uber/Lyft. This covers the gaps between personal and commercial insurance.
- Choose an insurer that allows you to start a policy easily online, manage your account online, and offers 24/7 customer service.
- Look for insurers that offer additional benefits like roadside assistance, rental reimbursement, and new car replacement after a total loss.
The lowest rate doesn’t necessarily mean the best value. The ideal auto insurance company for your needs will offer competitive pricing combined with strong financial backing, great service, and added benefits.
Conclusion
Finding the right auto insurance coverage at the best price in Florida requires careful comparison shopping. Be sure to get quotes from both national insurers and local Florida insurance companies. Look for an insurer that offers robust discounts, strong industry ratings, excellent claims servicing reputation, and helpful online account management tools. Pay attention to customer satisfaction scores. Consider added benefits like roadside assistance when selecting a top insurer. Reevaluate your coverage every renewal cycle to ensure you’re getting the best rate and protection. With a thorough quote-gathering process, Florida drivers can secure great auto insurance tailored to their needs for a competitive price.
