Car insurance is required by Florida law and it’s essential to have enough coverage in case of an accident, protecting both yourself and others involved. Your premium for auto insurance depends on a range of factors including the coverage options you select, type of vehicle you drive and driving history – even where you live may influence rates – drivers in dense cities typically pay higher premiums compared to those living in sparserly populated areas; age, gender and ZIP code all play an impactful part as well.
As a general rule, the older you are, the lower your car insurance rate will be. However, if you’re under 25 or have a teenage driver living with you, your rates could likely increase considerably; insurers must factor in this risk when calculating premiums; how much your car insurance costs depends on factors like accidents, speeding tickets or DUIs on your record and will rise up to 63% as soon as a DUI hits, while speeding tickets might cause rates to go up 18-23% based on this factor alone!
Your vehicle makes an impactful statement about who and what matters in Florida, with certain makes and models more prone to being stolen or having higher repair costs costing more than others to insure. Cars equipped with more safety features or better crash test ratings tend to cost less in Florida, while fuel efficient models tend to come at less of a premium cost.
Florida is estimated to have an annual car insurance rate that is 37 percent above the national average of $2,014. Florida’s high rates may be attributable to several factors, including being one of the three most dangerous places for driving and widespread fraud in its no-fault personal injury protection system.
No matter the source of your high Florida car insurance costs, there are ways you can lower them. These include avoiding at-fault accidents and violations such as speeding tickets; shopping around for competitive policies is another great strategy.
MoneyGeek recommends consulting the WalletHub rankings when seeking car insurance companies in Florida, taking into account customer satisfaction, ease of use and number of coverage options available. In addition, they show which car insurers are the cheapest options for various groups such as teen/college drivers, middle aged adults and seniors. Consumers who aren’t completely satisfied with their current insurer can file complaints with the Florida Office of Insurance Regulation which offers free and confidential complaint services; alternatively they can visit Florida Division of Consumer Services to gain more knowledge on laws pertaining to insurance regulations throughout Florida.