Car insurance is expensive in Florida. But car insurance prices are dictated by factors other than state lines. One reason Florida's auto insurance rates are relatively expensive compared to other states is the large number of uninsured drivers on the roads. In addition, Florida's highways are often crowded with state residents and millions of tourists every year.
More drivers on the road increase the likelihood that accidents will occur and that insurers will have to pay claims. Because Florida requires relatively comprehensive auto insurance, many people wonder about the cost of that type of coverage. The truth is that insurance in Florida is expensive compared to the national average. It is also one of the only major auto insurers to offer mechanical breakdown insurance (MBI), which acts as a car warranty and covers parts failures due to normal use.
Full coverage auto insurance is a good idea to protect newer cars or cars with a loan or lease from any kind of road hazard. It's good to know these factors so you can take some steps to lower your overall insurance costs, including the premiums you have to pay annually or monthly. PIP's no-fault insurance covers a large portion of the medical bills of both the driver of the vehicle and the passengers, regardless of who was at fault for the accident. By combining your car insurance policy with your homeowner's or renter's insurance, you can pay less for all of them.
In Florida, many of them come into play and make prices much higher than in other states. Some factors are specific to the driver or his vehicle, while others come automatically when living in Florida. To save on car insurance as you age, you can get savings of 10% to 20% off if you qualify for a mature driver discount, a defensive driver discount, or a low-mileage discount. Most other states also have restrictions on their use, which can be found on the state insurance regulator's website.
While insurance rates may vary depending on your location, vehicle characteristics, and other factors, there are certain insurance companies that excel at offering cheaper rates in Florida. If you have multiple accidents, fines, or a DUI conviction, you may even need car insurance for high-risk drivers in Florida. One of the best ways to find the lowest possible rates is to compare car insurance quotes from at least three providers. With multiple quotes, you can effectively compare coverage and costs to see who offers the most affordable car insurance rates for your unique profile.
When looking for the best car insurance rates in Florida, it's important to consider your other expenses to factor in your total living costs.
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