Being forced to pay for overpriced car insurance premiums can overdraw your personal savings and possibly require postponing other expenditures.
Surprisingly, a recent survey revealed that most car insurance buyers have remained with the same car insurance company for four years or more, and 38% of drivers have never compared rates to find cheap insurance. Consumers in Florida could save an average of nearly 55% each year by just comparing quotes, but most just don't grasp the large savings they would see if they just switched companies.
People have multiple insurance companies to choose from, and although it's nice to be able to choose, so many choices can make it hard to compare company pricing.
It's smart to price shop coverage yearly because car insurance prices are variable and change quite frequently. Despite the fact that you may have had the lowest quotes on car insurance last year you can probably find a lower rate today. Ignore everything you know about car insurance because you're about to learn the quickest way to save money, get proper deductibles and limits, all at the lowest rate.
Shopping around for the cheapest auto insurance policy in Hollywood is easy if you know what you're doing. Basically, every vehicle owner who quotes auto insurance should find a better price. But Florida car owners can benefit from knowing how insurance companies determine prices.
Many insurance companies such as State Farm, Allstate and GEICO provide insurance quotes direct online. Comparing car insurance rates online doesn't take much effort as all you need to do is type in your required coverages as requested by the quote form. Behind the scenes, the system pulls reports for credit and driving violations and quotes a price determined by many factors. Getting online rate quotes helps simplify price comparisons, and it is important to get many rate quotes in order to get a lower rate.
To quickly find out if lower rates are available, compare quotes from the companies shown below. If you have a policy now, it's recommended you copy the coverage information exactly as shown on your declarations page. This way, you're receiving rate comparison quotes using the same coverage and limits.
The providers in the list below are our best choices to provide comparison quotes in Hollywood, FL. To locate the cheapest auto insurance in Florida, we suggest you get prices from several of them in order to find the lowest rates.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Silverado LTZ Crew Cab 4WD||$1,778||$889||$148|
|Dodge Ram Crew Cab SLT 4WD||$1,732||$866||$144|
|Ford Edge SE 2WD||$1,082||$541||$90|
|Ford Escape XLT 2WD||$1,038||$519||$87|
|Ford Explorer XLT 2WD||$1,204||$602||$100|
|Ford F-150 FX4 Super Cab 4WD||$1,474||$737||$123|
|Ford Focus SEL 4-Dr Sedan||$1,308||$654||$109|
|Honda Accord LX-P 4-Dr Sedan||$914||$457||$76|
|Honda CR-V EX 2WD||$1,400||$700||$117|
|Honda Civic SI 4-Dr Sedan||$1,094||$547||$91|
|Honda Odyssey Touring||$1,958||$979||$163|
|Jeep Grand Cherokee Limited 2WD||$1,158||$579||$97|
|Jeep Wrangler Unlimited Sahara 4WD 4-Dr||$1,378||$689||$115|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,314||$657||$110|
|Toyota Camry SE||$1,042||$521||$87|
|Toyota Corolla S||$1,484||$742||$124|
|Get Your Own Custom Quote Go|
Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Premium costs do not factor in garaging location in Hollywood which can lower or raise prices noticeably.
Full coverage rates compared to liability-only
The chart below visualizes the comparison of Honda Civic yearly insurance costs with full physical damage coverage compared to only buying liability only. The premiums assume a clean driving record, no claims, $250 deductibles, married male driver, and no discounts are factored in.
Honda Civic rates are for example purposes only. To get rates for your specific vehicle, click here.
Should you buy full coverage or liability only?
There is no written rule for dropping physical damage coverage on your policy, but there is a general guideline. If the annual cost of having full coverage is 10% or more of the replacement cost minus the deductible, then it might be time to consider dropping full coverage.
For example, let's pretend your Honda Civic settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $5,000 after paying the physical damage deductible. If you are paying more than $500 annually for physical damage coverage, then you might consider buying liability only.
There are some situations where eliminating full coverage is not in your best interest. If you still owe money on your vehicle, you have to maintain full coverage as part of the loan requirements. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.
Where to set your deductibles
The diagram below illustrates how your deductible choice and can raise or lower Hyundai Elantra yearly insurance costs for different age groups. The information is based on a single female driver, comp and collision included, and no additional discounts are factored in.
Hyundai Elantra rates are for example purposes only. To get rates for your specific vehicle, click here.
Impact of violations and accidents on rates in Hollywood
The chart below shows how speeding tickets and at-fault claims can increase Ford F-150 yearly insurance costs for different ages of insureds. The costs are based on a single male driver, comp and collision included, $500 deductibles, and no discounts are taken into consideration.
Ford F-150 rates are for example purposes only. To get rates for your specific vehicle, click here.
Why do I need car insurance?
Despite the high cost, paying for auto insurance is required in Florida but it also protects you in many ways.
- Most states have minimum liability requirements which means it is punishable by state law to not carry a specific level of liability in order to license the vehicle. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your vehicle has a lienholder, more than likely the lender will have a requirement that you have physical damage coverage to ensure they get paid if you total the vehicle. If the policy lapses, the bank may insure your vehicle for a lot more money and make you pay a much higher amount than you were paying before.
- Auto insurance protects not only your vehicle but also your assets. Insurance will pay for medical expenses for yourself as well as anyone injured by you. Liability coverage will also pay to defend you if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will pay to repair the damage.
The benefits of carrying enough insurance are definitely more than the cost, especially with large liability claims. In a recent study of 1,000 drivers, the average customer is currently overpaying as much as $825 a year so you should quote and compare rates every year to make sure the price is not too high.
Get lower-cost insurance with discounts
Companies don't necessarily list every disount available very well, so the next list breaks down both the well known and also the lesser-known ways to save on insurance. If you check and find you aren't receiving every discount you deserve, you are throwing money away.
- Accident Free - Good drivers with no accidents have much lower rates as opposed to bad drivers.
- Senior Citizen Discount - Older drivers can possibly qualify for lower premium rates.
- Air Bag Discount - Vehicles equipped with air bags or motorized seat belts can receive discounts as much as 30%.
- Discounts for Government Workers - Active or retired federal employment may qualify for a discount when you quote Hollywood car insurance with a few insurance companies.
- Theft Prevention Discount - Cars equipped with tracking devices and advanced anti-theft systems help deter theft so companies will give you a small discount.
- College Student Discount - College-age children who are enrolled in a college that is more than 100 miles from Hollywood without a vehicle on campus can be insured at a reduced rate.
- Hollywood Homeowners Discount - Simply owning a home may earn you a small savings since home ownership requires personal responsibility.
- Sign Online - Some larger companies will provide an incentive just for signing your application on your computer.
- Onboard Data Collection - People who choose to allow data collection to scrutinize where and when they drive remotely such as Drivewise from Allstate or Snapshot from Progressive could save a few bucks if they are good drivers.
- Drivers Ed for Students - It's a good idea to have your young drivers participate in a local driver's education class in school or through a local driver safety program.
As a footnote on discounts, many deductions do not apply to the entire policy premium. Most cut the price of certain insurance coverages like medical payments or collision. So when the math indicates you would end up receiving a 100% discount, company stockholders wouldn't be very happy.
Auto insurance companies that may offer these benefits include:
If you want cheap Hollywood car insurance quotes, ask all companies you are considering which discounts you qualify for. Discounts might not be available to policyholders in every state.
Compare rate quotes but work with a local Hollywood insurance agent
A lot of people just want to sit down with an agent and doing so can bring peace of mind An additional benefit of getting online price quotes is that you can obtain the best rates but still work with a licensed agent. And providing support for small agencies is definitely important in Hollywood.
Once you complete this quick form, your insurance coverage information is instantly submitted to local insurance agents who will give you bids for your business. It makes it easy because there is no need to leave your computer since rate quotes are delivered immediately to your email address. Get lower rates and a licensed agent to talk to. If you wish to compare prices from a particular provider, you would need to search and find their rate quote page to submit a rate quote request.
Different types of auto insurance agents in Hollywood
When looking for a good insurance agency, it can be helpful to understand the types of agencies that you can select. Hollywood agents are classified as either exclusive or independent (non-exclusive).
Independent Agencies or Brokers
Agents that choose to be independent are appointed with more than one company so they can quote policies with multiple insurance companies and potentially find a lower price. If prices rise, they simply move the coverage in-house and you don't have to do anything. If you are trying to find cheaper rates, you need to compare prices from a couple of independent agencies to have the best price comparison.
Exclusive Auto Insurance Agencies
These type of agents can only provide one company's prices and examples are State Farm, AAA, and Liberty Mutual. They usually cannot give you multiple price quotes so they have to upsell other benefits. Exclusive insurance agents are well trained on what they offer which helps overcome the inability to quote other rates.
Finding the right insurance agent requires more thought than just the quoted price. These questions are important to ask:
- Do they get paid more for recommending certain coverages?
- Are all drivers listed on the coverage quote?
- Has the agent ever had any license suspensions?
- Are they primarily personal or commercial lines agents in Hollywood?
- Are there any extra charges for paying monthly?
Don't give up on cheaper rates
As you shop your coverage around, it's a bad idea to buy poor coverage just to save money. Too many times, an insured dropped physical damage coverage and found out when filing a claim they didn't have enough coverage. The aim is to buy a smart amount of coverage at a price you can afford.
A few companies do not offer online rate quotes and usually these smaller providers work with independent agents. Cost effective insurance can be found online and from local agencies, so compare prices from both to get a complete price analysis.
Additional insurance information is located at the links below
- Auto Insurance 101 (About.com)
- Who Has Cheap Florida Car Insurance for Real Estate Agents? (FAQ)
- Who Has Cheap Auto Insurance Rates for Drivers with a DUI in Florida? (FAQ)
- How to Avoid Staged Accidents (State Farm)
- Rearview cameras reduce backing crashes (Insurance Institute for Highway Safety)
- Distracted Driving Extends Beyond Texting (State Farm)