Finding the right auto insurance policy can be complex and stressful. Perhaps like many others, you are constantly looking for discounts and ways to lower your auto insurance rates. As a driver in Florida, you know that you have to be cautious on the road at all times. According to recent data, there have been over 100,000 auto accidents in Florida every year for the last five years. Due to a high crash rate in the state, you are legally required to carry auto insurance. Although searching for car insurance can be stressful, it can protect you from going into debt in the event of an unfortunate accident. If you believe that your current auto insurance policy is too expensive, here are a few things to consider.
Car Insurance Rates in Florida
Before searching for auto insurance, learn about the industry in Florida. Recent data shows that Florida is one of the most expensive states in the country. There is an uptick in accidents caused by distracted drivers. The costs of car parts and labor have risen significantly. More people are also filing lawsuits due to minor injuries. Each insurance carrier uses unique variables to determine auto insurance rates.
If you are thinking about switching carriers, keep in mind that many companies offer discounts to new customers. On the other hand, establishing a long-term relationship with your carrier can lead to potential discounts down the line. For example, you may qualify for reduced deductibles after a few years.
Paying in Full
Another option to consider is paying your auto insurance policy in full. Paying your policy in full at the beginning can help you save money. If you opt to pay in full, it’s more beneficial to do it online. Many carriers offer discounts for paying the policy in full online. This is considered more efficient, as it will only take a few seconds for a carrier to look up your information online. Besides, paying a bill once a year can also lead to substantial savings.
Car insurance rates often change after a few months. There are multiple variables associated with calculating auto insurance rates. As your life changes, your rates may be impacted. If you improve your credit score over time, you may qualify for a discount. Getting married can also help you qualify for a discount. The easiest way to receive a discount on your policy is to maintain a history of safe driving. Many apps now measure the acceleration and braking data while driving to help determine if you are a safe driver. You can also qualify for a discount by implementing new technology on your vehicles, such as anti-lock brakes and installing anti-theft devices. If you’re currently in school, you can receive a discount for being a good driver.
If you are a safe driver, increasing your deductible can help you save a lot of money. Your deductible is the amount that you would be responsible for paying before your coverage takes over a claim: the higher your deductible, the lower your premium.
Other Things to Consider
There’s a chance that you may be paying for coverage that you don’t need. You are legally obligated to carry at least some level of personal injury protection (PIP) and property damage coverage in Florida. If you have a lot of assets, consider adding comprehensive coverage so that you are protected in every situation. If you’re not comfortable with your financial situation, consider lowering your coverage. Review your coverage every year to see if any changes need to be made.
Lowering your car insurance rates in Florida may not be as difficult as you think. Be sure to do your research before making a decision. If you have any questions, contact the agents here at Locke Insurance Group, and we will guide you through the process.