Auto insurance in the Sunshine State can be a costly affair due to factors such as many uninsured drivers, subtropical weather, the high number of elderly drivers, high accident rates, and Florida’s no-fault laws. Even so, there are ways that can help you reduce the cost of auto insurance in Florida such as having a clean driving record. Discussed in this article are additional tips by Morgan Insurance Services in FL to help you achieve the same.
Checking insurance cost is a wise thing to do before buying a used or new vehicle. Auto insurance premiums are partly dependent on the vehicle’s safety record, cost of repairing, chances of theft, and price. You are likely to enjoy a discount if your car has features that reduce chances of theft or injuries. In case you’ve no idea of what vehicle to purchase, the Insurance Institute for Highway Safety can be of help.
Higher deductibles are known to substantially lower auto insurance. What are deductibles, you probably ask? This is what you pay prior to the insurance policy becoming active. Increasing your deductible from $250 to $500, for example, could mean a 25 percent discount in your comprehensive and collision coverage. A $1,000 deductible could be what you need to enjoy a 35 percent discount or more.
Buying two or more insurance types from the same company means you could bargain for a multi-policy discount. Having more than one car insured with the same firm is also an excellent way to get a reduction. You’ll be glad to know that some insurers reward long-time clients with reduced rates.
Many Florida insurers will check your credit information when calculating insurance price. Keeping your credit balance the lowest possible and paying your bills on time goes a long way in cutting insurance costs. Keeping an eye on your credit record will help correct any errors that could reduce your rating.
Auto insurance can seem costly, but its relevance is priceless. We are living in harsh economic times, but the good news is that auto insurance spares your hard-earned cash after a theft or an accident. If you’re wondering about where to buy car insurance, Morgan Insurance Services in FL is a great place to start.