Insurance

Car Insurance in Florida – Cheapest Car Insurance in Florida

April 25, 2024

Have you been searching for low-cost car insurance in Florida? As a resident of Florida, you need car insurance.

Car insurance is something every driver needs whether you are buying a new car or looking to switch your car insurance provider then this article is just for you.

Before you choose a car insurance company, you should know what an insurance company is all about to begin.

What is an insurance company?

An insurance company is a monetary institution that provides the services of risk management to companies, individuals, and businesses.

Insurance companies serve as a financial security against potential property damages and losses in exchange for consistent premium payments.

These companies operate in line with specific rules and laws which you must consider before choosing.

their basic job is to evaluate the risks of the insured property, state their level of coverage for accidents, receive payments, and compensate their clients when the need arises.

Car Insurance

Car Insurance is a type of insurance called property and casualty insurance. It helps provide financial protection to car owners in car accidents, car damages, and car theft.

Car insurance has a concept called indemnity. The indemnity concept states the policyholder will be returned to their original financial position or made whole again.

This implies if you are being sued over an accident you caused or your car suffers several damages from an accident the insurance policy will step in to pay for replacements, repairs, medical bills, and other expenses incurred by you only if you have the proper coverage.

There are several coverages in insurance, including physical damage coverage, property protection coverage, and third-party coverage.

Some types of coverage may include deductibles, which refer to the amount you may have to pay before the insurance company can cover some remaining costs that your coverage did not cover.

Types of Car Insurance

There are several kinds of car insurance, which means that there are certain aspects your car insurance will cover depending on the kind you pay for.

Below are examples of car insurance and their coverages:

Liability Insurance

This kind of car insurance pays for costs when your car is in an accident and you have been legally proven to be at fault.

The liability insurance will cover property damage and bodily injury/ death of others because you have been proven to be at fault.

Before you can register and operate a vehicle, you need this kind of insurance as a requirement.

Uninsured Motorist Coverage

This kind of car insurance provides financial protection to you if you happen to be hurt in an accident if you are the victim of a hit-and-run case, and also cover for property damage.

You may also be required to carry a minimum amount of this kind of insurance depending on the state you reside in.

Personal Injury Protection

This insurance is usually referred to as a no-fault insurance coverage that covers the medical expenses for you if there is an accident whether you were driving or was hit by someone driving.

This insurance covers your passengers if you are a driver regardless of who was at fault, in some rare cases this insurance will cover expenses you cannot pay for while you are recovering.

Medical Payment Coverage (MedPay)

This kind of insurance covers the medical bills if there is an accident both for you and your passengers regardless of who Is at fault.

It is usually a requirement depending on the state you live in.

Collision Coverage

This kind of insurance helps you fix your car if it collides with another object, say a tree. It also helps to fix damaged cars from accidents or potholes.

Comprehensive Coverage

This kind of insurance pays for damages done to your car during an event like hail damage or fire damage.

It could be damaged like a cracked or shattered windshield from falling objects, vandalism, or Animal attacks.

Car Insurance Companies in Florida

Florida is one of the most expensive states when looking for full coverage car insurance, some of the car insurance companies in Florida include:

Geico– this insurance company is the biggest in Florida and the second-largest auto company in the United States of America.

State Farm – State Farm is not a very affordable insurance company but it is cheaper than some other companies.

Progressive- it is not a very affordable insurance company but it has lower rates and discount prices available for their customers.

All-State– this insurance company has a search feature that allows you to find a local agent in Florida alongside showing map results. This is easy to use as it eliminates the need to look up other addresses.

USAA– it is one of the best insurance companies in Florida, it offers very affordable prices and excellent customer service to their customers.

Liberty Mutual– this insurance company has limited features and is not usually selected by drivers. They however have several offices in the state.

Infinity- this insurance company has plenty of agents within and across the state, it has an active presence in communities that sell auto insurance.

It is the best company for high-risk drivers but has low customer service.

Travelers- this insurance company is the eighth largest in Florida, they partner with local institutions like Florida Realtors and Florida Hospital Credit Union to offer special discounts and perks.

Farmers– they are one of the largest companies in florida, they have several insurance products that enable earning of discounts.

AmTrust Financial– they are small in size and do not have what most large insurance companies offer.

Cheapest Car Insurance in Florida

Finding least expensive car insurance in Florida is not always so easy. The best way to find it out is by using several factors which include age, poor credit, speeding tickets, recent accidents, driving history, and others.

Below are the least of the five cheapest car insurance companies in Florida based on the factors listed above.

Geico
Travelers
Direct Auto
AIG
Nationwide
State Farm
American Family
AAA
USAA

Generally, the cheapest car insurance company in Florida is State Farm at $144 per month for full coverage. Take note that car insurance rates in Florida are constantly on the rise, ensure you get quotes from three or more companies to compare the lowest rate you can get.

FAQs

Why do I Need to Buy Car Insurance in Florida?

You need car insurance in Florida because you will be asked to produce your insurance coverages in several instances like the protection for personal injury insurance (PIP), property damage liability (PDL), and others.

If you fail to produce them upon being asked, you will be charged with a nonmoving traffic crime which can subsequently get your license suspended.

In Florida, it is illegal to drive without insurance, Florida drivers must have car insurance coverage, looking at the good side of it, car insurance can protect your finances from being strained.

What are the advantages of Having a Car Insurance?

There are many advantages to having car insurance, below are some of them:

Car insurance helps you save for later because it saves you from huge expenses. Just a little investment from you and you can get coverage that helps to cover lots of expensive claims in case of a bad occurrence like an accident.
Car insurance helps to protect you and others for example you are a driver, if an accident happens and your passengers are injured, your car insurance coverage can protect you.
Car insurance gives you peace of mind because, with the right type of insurance, you can feel confident no matter what happens.

Do I need Car Insurance Even if Someone Borrows My Car?

Yes, you need insurance, in case there is an accident, your insurance can still cover it, in some cases your friend’s insurance may work.

Typically, the car insurance usually covers the car it is covering.

What are some tips For Buying Car Insurance in Florida?

Understand the coverage options
Determine your insurance needs
Know the price of coverages
Bundle your policies
Work with experienced agents.

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