Are you sick and tired of sacrificing other expenses to keep your car insured? Your situation is no different than the majority of other consumers in Florida.
A recent insurance study discovered that most insurance buyers in Florida have remained with the same insurance company for a minimum of four years, and 38% of customers have never compared insurance rates at all. U.S. drivers could save nearly 47% every year by just shopping around, but most tend to underestimate the amount of money they would save if they switched to a cheaper policy.
There are many auto insurance companies to insure vehicles with, and although it's nice to have multiple companies, so many choices can make it hard to find a good deal.
Locating the best rates in Plantation is easy if you know what you're doing. If you are insured now, you will be able to shop for the lowest rates using the following tips. But Florida drivers must know the methods companies use to determine premium rates.
Discounts for cheap insurance quotes
Insurance can be prohibitively expensive, but you can get discounts that you may not even know about. Many discounts should be triggered when you quote, but a few must be specially asked for prior to getting the savings.
- Seat Belt Discounts - Buckling up and requiring all passengers to use a seat belt could cut 10% or more off the PIP or medical payment premium.
- Own a Home - Owning your own home or condo can help you save on insurance because it requires a higher level of personal finance.
- Telematics Data Discounts - Policyholders that allow their insurance company to track driving manner by using a telematic data system such as Progressive's Snapshot and State Farm's In-Drive could possibly reduce rates as long as the data is positive.
- Memberships - Being a member of qualifying clubs or civic groups may earn a discount on your next renewal.
- Sign Online - Some of the larger companies provide a small discount for buying your policy online.
- Smart Student Discounts - Excelling in school could provide a savings of up to 20% or more. Many companies even apply the discount to college students up to age 25.
- Save over 55 - Drivers over the age of 55 may receive reduced rates.
- Claim-Free Discount - Insureds with no claims or accidents pay less in comparison to accident-prone drivers.
- Accident Forgiveness Coverage - Not a discount per se, but certain companies will forgive one accident without the usual rate increase so long as you are claim-free for a set time period.
A little note about advertised discounts, most discounts do not apply to the overall cost of the policy. Most only apply to the cost of specific coverages such as comprehensive or collision. Despite the fact that it seems like all those discounts means the company will pay you, it doesn't quite work that way.
A few popular companies and their possible discounts are outlined below.
- Esurance has savings for good student, claim free, safety device, Pac-12 alumni, anti-theft, and online quote.
- The Hartford includes discounts for defensive driver, driver training, bundle, vehicle fuel type, anti-theft, good student, and air bag.
- AAA discounts include pay-in-full, anti-theft, multi-car, education and occupation, multi-policy, good driver, and good student.
- GEICO offers discounts including federal employee, anti-theft, membership and employees, seat belt use, emergency military deployment, and good student.
- State Farm offers premium reductions for good driver, good student, student away at school, Steer Clear safe driver discount, safe vehicle, and driver's education.
When quoting, ask each insurance company which discounts can lower your rates. Some discounts might not be offered on policies everywhere. To see a list of companies with the best discounts in Florida, click here.
When looking for cheaper Plantation car insurance quotes, there are a couple ways to compare quotes from different companies. The simplest method to find competitive insurance rates is simply to get online rate quotes.
Getting rates online is very simple and it takes the place of having to spend time driving to local Plantation insurance agencies. Comparing online rate quotes makes this unnecessary unless you prefer the trained advice that only a licensed agent can provide. Drivers can comparison shop your insurance online but still have the advice of a local Plantation agent.
It's important to know that comparing all the rates in your area helps increase your odds of locating a lower rate.
The car insurance companies shown below provide quotes in Plantation, FL. To buy the best auto insurance in Florida, we recommend you visit as many as you can to get the best price comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Colorado LT Crew Cab 4WD||$1,172||$586||$98|
|Chevrolet Equinox LS AWD||$1,120||$560||$93|
|Chevrolet Silverado LS Crew Cab 2WD||$1,826||$913||$152|
|Dodge Ram Crew Cab Laramie 2WD||$1,474||$737||$123|
|Ford Escape XLT 2WD||$1,062||$531||$89|
|Ford F-150 XL Super Cab 4WD||$1,054||$527||$88|
|Ford Focus SES 4-Dr Sedan||$1,454||$727||$121|
|Ford Fusion Sport AWD 4-Dr Sedan||$1,430||$715||$119|
|Honda Accord LX 4-Dr Sedan||$934||$467||$78|
|Honda CR-V EX 4WD||$1,284||$642||$107|
|Honda Civic LX 4-Dr Sedan||$1,544||$772||$129|
|Hyundai Elantra GLS 4-Dr Sedan||$1,382||$691||$115|
|Kia Optima SX||$1,404||$702||$117|
|Nissan Altima 2.5 S 2-Dr Coupe||$1,484||$742||$124|
|Toyota Camry Hybrid||$2,056||$1,028||$171|
|Toyota Corolla LE||$1,228||$614||$102|
|Toyota RAV4 4WD||$1,478||$739||$123|
|Get Your Own Custom Quote Go|
Cost estimates assume married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, safe-driver, and homeowner. Prices do not factor in specific zip code location which can increase or decrease insurance rates greatly.
How much more does full coverage cost?
The diagram below visualizes the comparison of Honda Accord car insurance rates when comparing full coverage to state minimum liability only. The premium estimates are based on no violations or accidents, $250 deductibles, single male driver, and no other discounts are factored in.
Honda Accord rates are for example purposes only. To get rates for your specific vehicle, click here.
When to stop buying comprehensive and collision coverage
There is no set guideline to stop paying for full coverage, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is more than about 10% of replacement cost minus your deductible, then you might want to think about dropping full coverage.
For example, let's assume your Honda Accord replacement cost is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company would pay you is $2,000 after the policy deductible has been paid. If you are paying more than $200 a year for your policy with full coverage, then it might be time to consider dropping full coverage.
There are a few situations where dropping full coverage is not financially feasible. If you still have a loan on your vehicle, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not buy liability only.
Should you pay for full coverage or liability only?
There is no set rule for dropping full coverage, but there is a guideline you can use. If the yearly cost of full coverage is more than about 10% of the vehicle's replacement cost less your deductible, then you may want to consider only buying liability coverage.
For example, let's say your Chevrolet Cruze replacement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, you would only receive $3,000 after the policy deductible has been paid. If you are paying more than $300 annually for physical damage coverage, then you might want to think about dropping full coverage.
There are some cases where removing full coverage is not a good plan. If you still owe money on your vehicle, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not remove full coverage.
Why informed drivers pay lower rates in Plantation
One of the most helpful ways to save on auto insurance is to to have a grasp of the factors that are used to determine auto insurance rates. If you have a feel for what positively or negatively impacts your premiums, this empowers consumers to make smart changes that may reward you with lower premium levels.
- Rural vs Urban Areas - Choosing to live in less populated areas of the country has it's advantages when talking about auto insurance. People who live in big cities regularly have congested traffic and more time behind the wheel. Fewer drivers means a lower chance of having an accident and a lower car theft rate.
- Deter car thieves - Choosing to buy a car that has a built-in theft deterrent system can help lower your rates. Theft prevention features such as OnStar, LoJack tracking, and tamper alarms all help prevent your vehicle from being stolen.
- Liability protection limits are a factor - The liability section of your policy is the coverage that protects you if you are responsible for damages from an accident. It will provide legal defense starting from day one. This coverage is relatively inexpensive compared to other policy coverages, so drivers should carry high limits.
- Poor credit rating equals high costs - Having a bad credit score is likely to be a major factor in determining premium rates. So if your credit rating can use some improvement, you could pay less to insure your vehicle by improving your credit score. Drivers with high credit ratings tend to be less risk to insure than drivers with lower credit scores.
- Drive fewer miles and save - The higher the miles on your car every year the more it will cost to insure it. Most insurance companies price each vehicle's coverage determined by how the vehicle is used. Vehicles that are left in the garage cost less to insure than vehicles that have high annual mileage. It's a good idea to make sure your auto insurance coverage shows the correct usage.
Why you need to buy auto insurance
Even though it can be expensive, maintaining insurance may be required for several reasons.
First, the majority of states have minimum mandated liability insurance limits which means it is punishable by state law to not carry specific limits of liability protection 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.
Second, if you bought your vehicle with a loan, most lenders will stipulate that you have full coverage to ensure the loan is repaid in case of a total loss. If the policy lapses, the lender may have to buy a policy to insure your vehicle at a much higher premium rate and require you to fork over a much higher amount than you were paying before.
Third, auto insurance protects not only your vehicle but also your assets. Insurance will pay for medical expenses incurred in an accident. Liability coverage, the one required by state law, also covers legal expenses if you cause an accident and are sued. If you receive damage to your vehicle caused by a storm or accident, collision and comprehensive coverages will pay to repair the damage.
The benefits of buying auto insurance outweigh the cost, especially with large liability claims. On average, a vehicle owner in Plantation is overpaying more than $850 per year so we recommend shopping around at every policy renewal to be sure current rates are still competitive.
Persistence will pay off
When searching for cheap Plantation car insurance quotes, it's very important that you do not buy lower coverage limits just to save a few bucks. There have been many situations where an accident victim reduced comprehensive coverage or liability limits to discover at claim time they didn't have enough coverage. The goal is to purchase plenty of coverage at a price you can afford and still be able to protect your assets.
You just learned many tips how you can get a better price on insurance in Plantation. The key thing to remember is the more quotes you get, the higher your chance of finding low cost Plantation car insurance quotes. You may even be surprised to find that the lowest rates are with an unexpected company. These smaller insurers can often insure niche markets at a lower cost than the large multi-state companies such as Allstate and Progressive.
For more information, take a look at the resources below:
- How to Avoid Common Accidents (State Farm)
- What Car Insurance is Cheapest for a Chevrolet Silverado in Florida? (FAQ)
- Who Has Affordable Florida Auto Insurance for Postal Workers? (FAQ)
- Collision Insurance Coverage (Nationwide)
- Collision Coverage (Liberty Mutual)
- How do I File a Claim? (Insurance Information Institute)