The MoneyGeek Florida Car Insurance Calculator is a great tool for comparing the cost of your car insurance. You can get an idea of what your premium will be based on the factors that determine your cost, such as whether or not you have any accidents or violations on your driving record. You can also use the calculator to see what your premium will be if you add a teenage driver to your policy.
MoneyGeek’s car insurance calculator helps you find the cheapest car insurance in Florida
The amount of coverage you need is an important factor in determining the cost of your car insurance in Florida. Young drivers are more likely to get into accidents and therefore cost more to insure. For example, insurance for a 16-year-old driver costs more than double the cost of an insurance policy for an older driver. The best way to get a lower rate on your policy is to get a tailored quote based on your age, driving history and other factors. In addition, it is important to keep in mind that the age of your car is another factor in determining the cost of your policy. Certain models are more expensive to repair and may be stolen.
Rates are higher if you don’t have violations or accidents on your record
Insurers check your driving record on renewal and when you apply for a new policy. If you have any accidents or violations on your record, you could see your rates rise. However, if you have a clean record, you should see your rates decrease.
Premiums are higher if you carry more coverage
When it comes to auto insurance premiums, there are several factors that determine the price. One of them is your driving history. If you have had any accidents, claims, or tickets, your premium will increase. It’s therefore crucial that you drive safely to keep your premiums low. Other factors that can affect your premiums include your gender and age. Younger drivers are more likely to have accidents and make claims, so they will typically have higher premiums than adults.
Premiums are higher if you have a teen driver on your policy
Adding a teen driver to your policy can increase your premiums significantly. The average increase is 25% higher than that for insuring one person. However, you may be able to save some money by choosing a lower-risk teenager. While male teen drivers are more likely to file insurance claims, female drivers are less likely to do so.
Costs are higher if you drive a sports car
If you want to drive a sports car in Florida, you must be prepared to pay more for insurance than you would for a normal car. Though these vehicles are considered lower-risk by insurance companies, you need to be aware that they come with a higher price tag. The higher price tag also adds to the increased risk of an accident or theft. Despite this, the benefits of owning a sports car are worth the higher cost of insurance.
Rates are higher if you have a bare-bones policy
If you have a bare-bones Florida car insurance policy, the cost will be higher. This is because the state uses a no-fault system, so if you’re in a car accident, you have to make a claim on your personal injury protection insurance (PIP). Your PIP policy will pay for the other party’s expenses, including medical bills, but you’ll have to choose a deductible, which will reduce the amount of PIP coverage you have to pay.
Minimum coverage requirements in Florida
Minimum coverage requirements for auto insurance in Florida are similar to those in other states, but the laws differ a bit. Most states require a minimum coverage amount, such as $10,000 for personal injury protection and property damage liability. The latter amount is the most commonly required by law and is insufficient for most accidents. In addition, Florida drivers must be aware that failing to renew their policy can result in temporary suspension of their license.