What is the Average Car Insurance in Florida?

If you live in the state of Florida and you will soon be purchasing a vehicle, then you will need adequate car insurance coverage. However, if you’ve never purchased car insurance in Florida before, then you likely have no idea what to expect, because buying insurance coverage for your car in this state could be a lot different than in other states. You might wonder how to get started as well as what the average car insurance in Florida costs. Here is a complete overview that will answer your questions.

Florida’s No-Fault Law

Florida is among the many states that have adopted a no-fault law. The no-fault law states that if two or more individuals are involved in a car accident, neither of them is at-fault. All involved parties will be required to file a claim with their own insurance plans, if they choose to. Unfortunately, the no-fault law causes motor vehicle insurance rates to be astronomical, which can cause affording car insurance to be nearly impossible.

Annual Car Insurance Costs in Florida

The national average for car insurance in Florida on an annual basis is 31% higher than the national average, at approximately $1878. Of course, this is for full coverage insurance, and if you don’t need full coverage, then your rates can be substantially lower. However, if you’re making payments on the vehicle that you’re insuring, then it’s almost always required that you maintain full-coverage insurance at all times.

Smart Ways to Keep Your Insurance Rates as Low as Possible

Despite the fact that Florida’s no-fault law causes their car insurance to be extremely expensive, there are smart ways to keep your insurance rates as low as possible. First of all, if your keep your driving record blemish-free, you don’t have to worry about paying higher insurance rates. Furthermore, remaining accident-free is important, too, because any car accident that you’re involved in can also substantially increase your insurance premium.

Finding the Right Insurance Company

Even though Florida’s insurance rates are going to be higher than they are in states that don’t have a no-fault law, you can still find low rates in Florida. Each insurance company determines its own rates based on certain parameters, so why not choose an insurance company that offers rates that are as low as possible? It’s not necessary to go broke paying the highest rates possible for the best plan. There are plenty of insurance companies that offer superior insurance coverage for minimal prices.

Your Age and Insurance Rates

There is a significant difference in car insurance rates in Florida when it comes to age. For a 16-year-old who is just getting their driver’s license, car insurance rates can cost as much as three – four times the amount it would be for a 50 or 60-year-old. Once a person reaches their mid-twenties to thirties, car insurance rates become a lot more affordable in Florida. Of course, if you’re going to be driving, you will need auto insurance coverage regardless of age. Just be sure that you seek the cheapest rates regardless of if you’re 18 or 49.

Your Gender and Marital Status Helps Determine Rates

Although many motorists aren’t aware of it, your gender and marital status are taken into consideration when determining your auto insurance rates. Women typically pay slightly more than men, while married couples usually have lower rates. So, if you’re a single woman and you feel your rates are higher than they could be, don’t hesitate to search for cheaper rates elsewhere.

Your Credit Score Matters a Lot

While many people may not be aware that your credit score is considered when determining auto insurance rates, it certainly is. Everyone has an auto insurance credit score which is different from other types of credit scores. If this auto insurance credit score is low, then you will be quoted a much higher rate than if your credit score is high. Even if your credit score is less than par, that doesn’t mean that you must pay exceptionally high auto insurance rates, though, as there are always cheaper rates with other agencies.

Situations that Increase Auto Insurance Rates Even More

If you’re considered a risky driver because you’ve been convicted of a DUI in the past, or even reckless driving, then your auto insurance rates will rise exponentially. Again, if you shop around, you could find more affordable rates even if you’ve been convicted of DUI or reckless drivers in the past. If you find a rate that you believe is relatively affordable, keep looking and you may find some rates that are even cheaper.

As you can see, despite auto insurance rates that can appear astronomical in price, you can find affordable car insurance in Florida. There is no need to become stressed when it comes to locating the best insurance rates. All that you must do is conduct your research ahead of time instead of purchasing insurance from the first company that seems convenient. You would be surprised at how much money you can actually save if you take your time to find the right insurance agency.

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