Florida's auto insurance rates are high for a number of reasons, including state no-fault auto insurance laws, exposure to risk due to extreme weather conditions, average driver profile, and number of uninsured drivers. 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. If you haven't been able to find affordable car insurance for your new or used car, ask our Fearnow Insurance agents. Our customers have seen insurance premium savings of up to 37 percent with our auto insurance policies.
This is because we have the ability to analyze numerous policies from different airlines to find the best policy for your budget and driving habits. Otherwise, they could be subject to fines and other penalties by the Office of Insurance Regulation. Keep this in mind when looking for car insurance so that you can take advantage of discounts that several companies have. No-fault insurance can make the process of recovering from a collision easier for everyone involved, but it's usually more expensive.
This takes into account a number of factors, such as accident history in the area, population density, number of uninsured drivers, crime statistics, bad weather patterns, etc. Like credit scores, insurance scores are based on information from the credit report, they are only used for predict the likelihood that a driver will file a claim. WalletHub also states that Florida is the third busiest state after California and New York, leading to busy roads. Anti-theft devices in a vehicle, incorporating multiple cars into your policy, adopting a defensive driving course, and establishing yourself as a safe driver with a clean record are standard discounts.
Yes, Florida is a no-fault state, which means that every driver's insurance pays for their own medical bills no matter who causes a collision. Choosing a different insurance company can result in lower premiums because different companies use different metrics to determine the cost of a policy. Using a hypothetical 40-year-old driver with a clean driving record and no previous claims, the study also looked at the average cost of auto insurance across the state's 67 counties, and some of the results were quite significant. Nerd Wallet points out that PIP insurance also pays for medical bills, lost wages, necessary medical equipment, and other expenses related to an accident, such as home health care.
As long as you have comprehensive coverage, you're likely covered if your car is damaged by wind, hail or flooding. 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. While some causes of rising rates are more common in Florida, there are other trends that are true no matter where in the country you live.