Paying for high-priced Honda Insight insurance in Orlando can overdraw your checking account and possibly require you to analyze your spending habits. Doing a rate analysis can be a smart way to ensure you are getting the best deal.
A recent car insurance study discovered that most drivers have been with the same company for four years or more, and about 40% of consumers have never taken the time to shop around. Florida consumers could cut their rates by up to $1,126 a year just by shopping around, but they won't spend time to compare rates online. Numerous insurers battle for your insurance dollar, so it's not easy to compare every insurer to discover the definitive best rate on Honda Insight insurance in Orlando.
If you already have coverage or need a new policy, use these techniques to find the best rates while maintaining coverages. Locating the best rates in Orlando is actually quite easy if you know where to start. You just need to use the most time-saving way to compare company rates from many companies at once.
Reducing your Honda Insight insurance rates is a fairly straight forward process. Drivers just need to take a few minutes comparing rates online from several insurance companies.
Comparison shopping rate quotes online is easy and it makes it obsolete to go to local Orlando insurance agencies. The ability to buy insurance online has reduced the need for local agents unless you require the professional abilities that only an agent can give. You can, however, get the lowest quotes online but have your policy serviced through an agent.
The car insurance companies shown below are ready to provide free rate quotes in Florida. To buy cheap auto insurance in Orlando, we suggest you visit as many as you can to get the most affordable price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Premium data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, multi-vehicle, and safe-driver. Table data does not factor in specific location information which can influence coverage rates noticeably.
Car insurance rates are higher with tickets and accidents
The chart below shows how traffic citations and accidents drive up Honda Insight car insurance rates for each different age group. The costs are based on a married male driver, full coverage, $250 deductibles, and no discounts are taken into consideration.
Full coverage rates vs. liability-only in Orlando
The illustration below shows the difference between Honda Insight auto insurance rates with full coverage compared to only the Florida minimum liability coverage. Data assumes a clean driving record, no at-fault accidents, $500 deductibles, married female driver, and no policy discounts are applied.
Should you pay for full coverage or liability only?
There is no written rule of when to drop physical damage coverage, but there is a general guideline. If the yearly cost of comp and collision coverage is about 10% or more of the vehicle's replacement cost less your deductible, then you might want to consider buying only liability coverage.
For example, let's pretend your Honda Insight replacement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company would pay you is $4,000 after paying the physical damage deductible. If you are paying in excess of $400 annually for comprehensive and collision coverage, then it might be time to consider dropping full coverage.
There are some scenarios where buying only liability insurance is not a good idea. If you still have a lienholder on your title, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don't have enough money to buy a different vehicle in case of an accident, you should keep full coverage on your policy.
Male drivers versus female drivers
The information below shows the comparison of Honda Insight insurance prices for male and female drivers. The costs are based on no claims or driving citations, full physical damage coverage, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.
Can switching companies really save?
Florida drivers constantly see and hear ads that claim the lowest premium rates by companies like Allstate and Progressive. They all state the claim of big savings if you switch your policy.
How do they all say the same thing? It's all in the wording.
Insurance providers can use profiling for the right customer that will not have excessive claims. For example, a driver they prefer might have to be a mature driver, carries high limits, and chooses high deductibles. A propective insured who matches those parameters may get the lowest rates in Orlando and will save when switching.
Consumers who don't qualify for this stringent profile will see a higher premium which usually ends up with the prospect going elsewhere. The ad wording is "drivers who switch" not "everyone that quotes" save money. That's why companies can make those statements. This illustrates why drivers should compare as many free Orlando car insurance quotes as you can. Because without a comparison, you cannot know which auto insurance company will give you the biggest savings.
Three main reasons to buy car insurance
Despite the high cost, buying car insurance is most likely required but also gives you several important benefits.
- Almost all states have compulsory liability insurance requirements which means you are required to carry specific minimum amounts of liability in order to drive the car legally. 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 you have a lien on your vehicle, almost all lenders will require you to have physical damage coverage to guarantee loan repayment. If the policy lapses, the lender may have to buy a policy to insure your Honda for a lot more money and require you to reimburse them the higher price.
- Insurance protects both your car and your assets. Insurance will pay for many types of medical costs for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, also pays for attorney fees and expenses if you are sued as the result of an accident. If damage is caused by hail or an accident, your policy will pay all costs to repair after the deductible has been paid.
The benefits of carrying enough insurance are definitely more than the cost, especially if you ever need it. As of last year, the average driver in Florida is overpaying over $869 every year so you should quote your policy with other companies each time the policy renews to ensure rates are inline.
Get discounts on Orlando car insurance
Car insurance can be pricey, but there's a good chance there are discounts that can help lower your rates. Many of these discounts will be applied automatically when you complete an application, but once in a while a discount must be asked about before being credited. If you check and find you aren't receiving every discount possible, it's possible you qualify for a lower rate.
- Sign Early and Save - Select insurance companies give a discount for signing up early. Ten percent is about the average savings.
- Anti-lock Brakes - Anti-lock brake equipped vehicles are safer to drive and qualify for as much as a 10% discount.
- Accident Forgiveness - Not necessarily a discount, but companies like Libery Mutual, GEICO and Allstate will turn a blind eye to one accident before raising your premiums as long as you don't have any claims prior to the accident.
- No Claims - Claim-free drivers pay less as opposed to frequent claim filers.
- Organization Discounts - Affiliation with qualifying clubs or civic groups can get you a small discount when shopping for car insurance.
- Fewer Miles Equal More Savings - Low mileage vehicles could earn slightly better rates than normal.
- Senior Citizen Rates - If you're over the age of 55, you may receive a small discount on rates.
- Telematics Data - Insureds who allow companies to scrutinize when and where they use their vehicle by using a telematics device in their vehicle like Drivewise from Allstate or In-Drive from State Farm could possibly reduce rates as long as the data is positive.
Drivers should understand that most credits do not apply to the entire cost. A few only apply to the cost of specific coverages such as comp or med pay. So despite the fact that it appears you would end up receiving a 100% discount, car insurance companies aren't that generous.
Insurance companies who might offer these benefits possibly include:
Before buying, ask all the companies what discounts are available to you. Discounts might not be offered in Orlando. To choose car insurance companies that offer some of these discounts in Florida, click here.
You may need advice from an insurance agency
Many drivers prefer to go talk to an agent and that is a personal choice. Licensed agents can answer important questions and give you someone to call. One of the best bonuses of comparing rates online is you may find the lowest rates but still work with a licensed agent.
To find an agent, once you fill out this simple form, the coverage information is instantly submitted to participating agents in Orlando that provide free Orlando car insurance quotes to get your business. You don't have to find an agent as quotes are delivered to the email address you provide. In the event you want to get a price quote for a specific company, you can always visit that company's website and submit a quote form there.
Picking the best company should include more criteria than just the quoted price. Any good agent in Orlando should know the answers to these questions.
- If your car is totalled, how to they determine the replacement cost?
- How many companies do they write for?
- Is there a local claims center in Orlando?
- Is vehicle mileage a factor when determining depreciation for repairs?
- Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
- Where would your vehicle be repaired?
The difference between Orlando auto insurance agents
If you're trying to find a local agent, it helps to know the two different types of agents from which to choose. Agents are categorized either exclusive or independent. Either type can write policy coverage, but it is a good idea to know the difference in how they write coverage since it can impact the selection process.
Exclusive Car Insurance Agents
Exclusive agencies can only provide pricing for a single company and some examples include State Farm or Allstate. They generally cannot shop your coverage around so they have no alternatives for high prices. These agents are usually well trained on the products they sell which aids in selling service over price.
Below are exclusive insurance agencies in Orlando willing to provide price quotes.
Independent Agencies or Brokers
Agents in the independent channel are not employed by one company and that is an advantage because they can write policies with any number of different companies and possibly get better coverage at lower prices. If they find a cheaper price, your policy is moved internally without you having to go to a different agency.
If you are trying to find cheaper rates, you will want to get insurance quotes from a couple of independent agencies for maximum quote selection.
Listed below is a list of independent insurance agents in Orlando that are able to give comparison quotes.
Will just any policy work for me?
When buying the right insurance coverage, there really is not a best way to insure your cars. Everyone's needs are different and a cookie cutter policy won't apply. These are some specific questions may help you determine if you would benefit from professional advice.
- How does medical payments coverage work?
- Are rental cars covered under my policy?
- How do I file an SR-22 for a DUI in Florida?
- What is medical payments coverage?
- Should I rate my vehicle as business use?
- Do I have coverage if I rent a car in Mexico?
- Am I covered when driving on a suspended license?
- Does car insurance cover theft of personal property?
If you can't answer these questions but one or more may apply to you, you might consider talking to an insurance agent. To find lower rates from a local agent, simply complete this short form or go to this page to view a list of companies. It only takes a few minutes and can provide invaluable advice.
Coverages available on your policy
Having a good grasp of auto insurance aids in choosing the right coverages for your vehicles. Auto insurance terms can be difficult to understand and coverage can change by endorsement. Shown next are typical coverages found on the average auto insurance policy.
Protection from uninsured/underinsured drivers
Your UM/UIM coverage protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle's occupants and damage to your Honda Insight.
Due to the fact that many Florida drivers only purchase the least amount of liability that is required (10/20/10 in Florida), their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is a good idea.
Medical expense insurance
Coverage for medical payments and/or PIP pay for expenses for doctor visits, chiropractic care, pain medications and EMT expenses. The coverages can be used to cover expenses not covered by your health insurance plan or if you do not have health coverage. It covers all vehicle occupants in addition to any family member struck as a pedestrian. Personal Injury Protection is only offered in select states and may carry a deductible
Coverage for liability
Liability insurance provides protection from damages or injuries you inflict on people or other property that is your fault. It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You might see liability limits of 10/20/10 which stand for $10,000 in coverage for each person's injuries, $20,000 for the entire accident, and a total limit of $10,000 for damage to vehicles and property.
Liability can pay for claims such as medical expenses, bail bonds and court costs. How much liability coverage do you need? That is up to you, but buy as high a limit as you can afford. Florida state minimum liability requirements are 10/20/10 but drivers should carry higher limits.
This coverage will pay to fix damage to your Insight resulting from a collision with a stationary object or other vehicle. A deductible applies and the rest of the damage will be paid by collision coverage.
Collision can pay for things such as crashing into a building, crashing into a ditch, colliding with another moving vehicle and hitting a parking meter. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from vehicles that are older. It's also possible to choose a higher deductible on your Insight in order to get cheaper collision rates.
Comprehensive (Other than Collision)
This pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things such as fire damage, a tree branch falling on your vehicle, theft, rock chips in glass and damage from flooding. The most you can receive from a comprehensive claim is the market value of your vehicle, so if your deductible is as high as the vehicle's value it's not worth carrying full coverage.
More comparisons equals cheaper rates
We just presented many ways to lower your Honda Insight insurance premium rates in Orlando. The key concept to understand is the more rate comparisons you have, the higher your chance of finding low cost Orlando car insurance quotes. You may even be surprised to find that the lowest premium rates are with a lesser-known regional company. Regional companies may have significantly lower prices on certain market segments compared to the large companies like Allstate, GEICO and Progressive.
Cheaper Honda Insight insurance in Orlando is possible both online and from local insurance agents, so you should compare both to have the best chance of lowering rates. Some companies may not provide rate quotes online and usually these small, regional companies work with independent agents.
To learn more, link through to the articles below:
- Comprehensive Coverage (Liberty Mutual)
- How Much are Car Insurance Rates for a Toyota RAV4 in Florida? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Seniors in Florida? (FAQ)
- Things to Know Before you Cancel Insurance (Allstate)
- Senior Drivers (Insurance Information Institute)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)