Car insurance is expensive in Florida. But car insurance prices are dictated by factors other than state lines. Last year, Coverage said Florida drivers paid more for car insurance with full coverage He explains that one of the reasons for the high insurance rates is because the state is located in an area affected by extreme weather conditions, particularly hurricanes and floods, which can cause damage to the automobiles. Over the past six years, almost all large companies in the Estado del Sol have raised interest rates significantly.
All major insurance companies use a credit-based insurance score to calculate premiums when permitted by law. You may also want to compare coverage offers, discounts, customer service scores, and financial strength ratings when choosing an insurance company. However, Florida does not require liability for bodily injury, the insurance that pays for the other party's injuries. The average cost of auto insurance has increased across the country, and car insurance rates in Florida follow the same pattern.
You can also demonstrate financial responsibility by maintaining minimum car insurance with no interruptions in coverage. The financial website says that only people in Louisiana are paying a higher percentage of their income on their cars. Average car insurance rates in Florida vary by city based on population density, traffic volume, frequency of accidents, vulnerability to theft and vandalism, among other factors, according to Triple-I. The average rate increase was around 3.5% per year, although some companies increased premiums by up to 22% in a year.
One of the most important factors in determining your car insurance rates is the make and model of the vehicle you are driving. According to Nielsen survey data, only 25% of Floridians with auto policies have purchased new insurance in the past three years. Driving safely, obeying traffic laws, and keeping a clean driving record are the best ways to keep your insurance costs down. While finding the cheapest car insurance in Florida may be a priority for many drivers, keep in mind that having adequate coverage is more than just the price.
Although it is not part of the state's minimum insurance requirements, it is recommended to purchase insurance for uninsured motorists. Florida ranks sixth among states with the highest rate of uninsured drivers, meaning that the likelihood of being involved in an accident with someone who does not have insurance is higher than in other states. In a story about Car and Driver, a man parked his smart car in his kitchen when Hurricane Dorian threatened the shores of Florida.