No matter where you live, car insurance is a necessary expense. But in Florida, where premiums are higher than the national average, it’s especially important to be mindful of how much you’re spending each month. Luckily, there are a few things you can do to help lower your rates. Follow these tips and you could see some significant savings on your next policy.
1. Compare rates from different insurers
Florida auto insurance rates can vary widely from one insurer to the next. As a result, it’s important to compare rates from different insurers before purchasing a policy. There are a few ways to do this.
- Contact each insurer directly and ask for a quote.
- Use an online comparison tool, which allows you to compare rates from multiple insurers at once.
Whichever method you choose, shopping around for Florida auto insurance is a great way to save money on your premiums.
2. Ask about discounts for good drivers, bundling policies, and staying accident-free
One of the best ways to save money on your auto insurance is to ask your insurer about their discounts. Lucky for us, there are several discounts most insurers offer to their customers.
Most insurers offer discounts for customers who have a clean driving record, so be sure to inquire about this when you are shopping for a new policy.
Many insurers offer discounts when you purchase multiple policies from them, so if you have both your car and homeowners insurance with the same company, you may be able to get a discount on both policies.
Insurance companies often offer safe driver discounts to customers who have not been involved in an accident for a certain period of time, so this is something to keep in mind if you want to save money on your policy.
3. Choose the right car – a smaller, less expensive model will cost less to insure
One way to reduce your car insurance costs is to choose the right car. In general, smaller, less expensive models will cost less to insure than larger, more expensive ones. This is because they are less likely to be involved in an accident and less expensive to repair if they are damaged. Also, cars with safety features such as airbags and antilock brakes tend to be cheaper to insure than those without them.
When shopping for a new car, be sure to keep insurance costs in mind. By choosing a model that is cheap to insure, you can save yourself a significant amount of money over the life of your policy.
4. Park in a safe location
One way to reduce car insurance costs in Florida is to park in a safe location – preferably in a garage or driveway. Insurance companies often offer discounts for cars that are parked in these types of locations because it reduces the risk of theft or vandalism.
5. Review your policy regularly to make sure you’re getting the best deal possible
Insurance rates can change over time, and by shopping around you can make sure you’re getting the best deal possible. There are a few things to keep in mind when reviewing your policy.
- Consider the deductible. This is the amount that you’ll have to pay out-of-pocket before your insurance kicks in. A higher deductible means lower premiums, but make sure you can afford the deductible if you need to make a claim.
- Think about the coverages you need. Some coverages, like collision and comprehensive, may not be required by your lender but can still help to protect your investment.
- Be sure to update your policy if you make any changes to your vehicle, such as adding aftermarket parts or accessories.
By regularly reviewing your policy, you can save money on car insurance in Florida.
6. Raise your deductible and lower your premium
The deductible is the amount you’ll have to pay out-of-pocket before your insurance coverage kicks in. By increasing your deductible, you can lower your premium because you’re taking on more of the financial risk yourself. Just be sure that you can afford the deductible if you do have to make a claim.
Let’s face it- we all want to save money. By following these steps, you can be on your way to significant savings on your car insurance in Florida. Take the time to shop around and compare rates, consider raises or discounts you may be eligible for, and remember that bundling policies can lead to additional savings. And while it’s important to have adequate coverage, make sure you’re not overpaying for more than you need.
A little research and time spent reviewing your options could end up saving you a lot of money down the road.