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Cheap Florida Auto Insurance

12 Oct

Auto insurance premiums in Florida are typically some of the highest in the nation, average in the top 5 to 10 most expensive states. But it is possible to find cheap auto insurance, even in Florida. The key is to shop around and find the best combination of coverage and premiums for your individual driving needs.

Average rates in Florida

For residents of Florida, the average car insurance premium in 2009 is $1,700 in 2009, which is an average increase of 7 percent from 2008 rates, and 2008 was 1 percent higher than 2007 rates. With insurance premiums on the rise, it’s important to shop around. Every insurance company segments their rates a little differently, so your rates will differ at least slightly with every company. Most drivers can benefit from comparison shopping, and if you learn that you already have the best rates possible, you will at least have piece of mind knowing you are not paying too much.

Florida’s required insurance minimums

In the state of Florida, you are required to carry at least $10,000 in personal injury protection and $10,000 of property damage liability. Many drivers will find that these limits do not provide sufficient coverage, as you could easily incur more than these limits in an accident. Consider how quickly medical or repair bills can add up, and remember that you are liable for any amounts not covered by your policy. You will have to weigh the costs and benefits of carrying only the minimums to maintain low premiums or carrying higher limits to provide more security. Different coverage amounts and deductible limits will greatly affect your insurance premiums. With the convenience of online comparison shopping, you can quickly determine the cost differences associated with different deductibles or coverage amounts.

Florida uses a No-Fault system, which means your cheap Florida auto insurance company will provide coverage for your losses, up to a certain point. Also, you may want to consider adding Uninsured/Under-insured Motorist coverage to your policy, although it is not required in the state of Florida.

Comparison shopping online

Today it is easy and convenient to compare policies and rates online. You can quickly compare rates from hundreds of different companies in just a few minutes, and can literally save hundreds of dollars on your premiums. To make the process even faster, be prepared with all the necessary information, such as driving record for all insured drivers, drivers license numbers, and VINs for all vehicles. You may also need additional information such as average number of miles driven in a year, average daily commute to work, whether the car is parked in a garage overnight, and features on your car that affect its value or safety rating.

Where to start

When you are researching auto insurance rates in Florida, you should be aware that while the majority of sites will conveniently display rates within minutes, other sites are designed to simply create leads for the agent. These may sell your private information to other companies, leading to an increase in spam or other unwanted solicitations. Other sites may obtain competitive quotes from several different companies at once, which could result in lower premiums.

There is also a trade-off between companies that market directly to consumers and those that offer local agents. Examples of direct marketed companies include Esurance, Geiko, and 21st Century. Agent based insurance companies include American Family, Farmers Insurance, and State Farm. (Names are provided for illustration purposes only and are not an endorsement of any company.) With local agents, you will generally pay higher premiums but will have increased customer service, while the opposite is usually true if you bypass the local insurance agent. The decision is yours as to which is more important, lower prices or more personal service.