Cheapest Full Coverage Car Insurance In Florida

Cheapest Full Coverage Car Insurance In Florida – There are more than 17.3 million licensed drivers in Florida. When you travel with them, you want to know that you have good insurance. Whether you cause an accident or someone hits you, the right coverage can save you from financial disaster.

Cost is a major consideration for many auto insurance buyers. We evaluated the average rates of 10 major auto insurance companies in Florida for different drivers. Comparison shopping is essential if you don’t want to overpay. The best car insurance companies for you will vary based on your driving record, address, past claims and other factors.

Cheapest Full Coverage Car Insurance In Florida

Geico and State Farm offer the cheapest rates for good drivers in Florida among the companies we rated. Even if you don’t want to switch car insurers, ask your insurance agent to review the available discounts to make sure you’re getting all the price breaks you can. Even going paperless with your policy and insurance bills can result in a small discount.

Best Car Insurance Companies In Florida

State Farm and Allstate are the cheapest companies for Florida drivers with speeding tickets. Speeding tickets and other citations will count against your Florida driving record. If you accumulate enough points, your driver’s license can be suspended. 3 points are charged for speeding.

Geico and State Farm are the cheapest for Florida drivers who cause an accident. Because Florida is a no-fault state, you will file injury claims based on your PIP insurance. Florida also uses the “pure comparative fault” rule: If you are partially at fault for an accident, the jury award will be reduced by the percentage of your fault. For example, if you are 50% at fault and have $100,000 in damages, you will receive $50,000.

Direct General and Geico are the most likely to offer better rates to Florida drivers with bad credit among the companies we rated. Auto insurance companies associate bad credit with a higher chance of making claims, so be prepared for higher rates. Additionally, the average rate for drivers with bad credit in Florida is about $1,000 higher than the national average.

There’s no getting around the fact that adding a teenage driver to your auto insurance policy will hurt your wallet. With the state average adding up to nearly $3,000 a year for a teen driver (not including parents), finding a good deal is critical.

Florida Car Insurance Requirements (2023)

Among the companies we rated, Geico and State Farm offer the best rates for drivers who only want the minimum Florida car insurance.

Florida only requires very low coverage amounts and uses a no-fault auto insurance system. If you have been injured in a car accident, you will first request your personal injury protection insurance (required).

You will choose a PIP deductible. Choice of No Deductible – $250, $500 or $1000 Deductible is the amount deducted from your PIP claim check. The higher the deductible, the lower your PIP costs will be.

Basic Florida PIP pays up to $10,000. Extended PIP does not exceed the $10,000 limit, but covers 100% of medical costs (instead of 80%) and 80% of lost earnings (instead of 60%). . There is still coverage for replacement services and a death benefit. However, with a limit of only $10,000, you can quickly reach the PIP maximum.

Cheapest Car Insurance In Florida (october 2023)

There is also an “extended PIP” option that pays 100% of medical bills and excludes any coverage for lost wages. This option still includes replacement services and a death benefit.

If you want more than a measly $10,000 in PIP benefits, your insurer may offer “supplemental PIP” coverage. Here you will select an additional amount such as $10,000, $25,000, $40,000, or $90,000.

Property damage liability insurance is required in Florida and pays for other people’s damages if you cause an accident. You can also purchase personal injury liability if you cause an accident that seriously injures others.

Even though Florida is a “no-fault” state, you can still sue for a car accident. You can sue a motorist in Florida if you have a serious injury, such as a broken bone or significant disfigurement. For this reason, it’s important to have good personal injury liability insurance, especially if you have assets that someone might seek in a lawsuit.

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If you have a large income and assets such as savings and a home, you may be the target of a lawsuit. Consider generous auto insurance liability limits in case someone sues you.

A good auto insurance policy in Florida starts with PIP and liability insurance with limits above the state minimum. State claims are low, and if you have assets, you could be the target of liability lawsuits. Other types of coverage we recommend are:

Uninsured Motorist Coverage: One of the problems with Florida’s rare insurance claims is that people who cause serious injuries to others may not have the insurance to pay for them. You can sue another driver who causes you serious injuries, but if they are only responsible for PIP and property damage, they won’t have adequate insurance for your claim against them.

If this is the case, you can turn to your uninsured motorist (UM) coverage. You can use your health insurance for accident injuries, but UM can also provide pain and suffering compensation and cover lost wages.

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Collision and Comprehensive Coverage: There are many issues that can damage your car beyond car accidents. A good policy will include collision and comprehensive insurance to account for them, especially with the threat of flooding in Florida. Collision and comprehensive cover together will pay for car theft and damage to vehicles caused by hail, flood, fire, vandalism and collisions with other objects and animals.

Umbrella Insurance: If you have a high income and assets, you are a good candidate for umbrella insurance. It provides an additional amount of liability insurance over and above your auto and homeowners insurance. If you are facing a large lawsuit from someone for a car accident or accident covered by your home insurance, umbrella insurance protects your finances.

Florida law allows you to show proof of auto insurance from a cell phone. Otherwise, you must keep a paper copy.

Florida drivers pay an average of $1,259.55 per year for auto insurance. This includes all levels of insurance purchased. Below are average premiums for common types of coverage.

Cheapest Full Coverage Car Insurance Rates And Companies (2023)

Auto insurance companies will use many factors to calculate your rates, and rates vary greatly between insurers. Calculations use your previous requirements, driving experience, vehicle model and more. Florida businesses can take advantage of these factors as well.

According to the Insurance Research Council, about 27% of Florida drivers don’t have auto insurance, the highest rate in the nation.

With so many uninsured drivers on the road, consider getting uninsured motorist coverage. You can use this cover in case of serious injuries to you and/or your passengers. You would still use your PIP for minor injuries.

If you are caught without PIP and property damage insurance in Florida, you can lose your car registration and driver’s license.

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Furthermore, it is a criminal offense to produce “proof of insurance” when you know that the insurance is not valid.

If your vehicle is seriously damaged in a car accident, your insurance company may decide that it is totaled. Under Florida law, a vehicle can be totaled if the cost of repairs exceeds 80% of its value. Florida law also requires a vehicle to be depreciated if the repair value exceeds 100%.

Collision and comprehensive insurance pays for total cars. They will pay the value of the vehicle if it is stolen or totaled by an accident, flood, fire or other problem. The amount of your deductible will reduce your insurance check.

Geico and Progressive dominate the auto insurance market in Florida, holding nearly half of the private passenger auto insurance business between the two companies.

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The Florida Department of Insurance is responsible for receiving complaints against insurance companies. If you have problems with your insurance company that you cannot resolve, the insurance department can help. See information for consumer assistance.

To find the cheapest auto insurance companies in Florida, we used rates from Quadrant Information Services, a provider of insurance data and analytics. Companies rated for Florida: Allstate, Direct General, Farmers, Geico, Mercury, MetLife, Progressive, State Farm, Travelers and USAA.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of , Inc.

Forbes Advisor is your trusted destination for unbiased personal finance advice, news and reviews designed to make smart financial decisions simple.

What Is Full Coverage Car Insurance

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Cheapest Car Insurance Companies, Rates & Quotes (october 2023)

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