No one wants to pay an arm and a leg for auto insurance.
But no one wants to pay out of pocket for medical expenses and property damage either.
Purchasing auto insurance is a balance between meeting a monthly budget and being covered in case you’re at fault in an accident.
Minimum auto insurance coverage does provide a safety net in case you’re in an accident, but it doesn’t necessarily protect you from financial ruin.
This post looks at ways to buy auto insurance in Florida for cheap, from the minimum required coverage to comprehensive auto insurance coverage.
How to Buy Auto Insurance in Florida for Cheap
Before you purchase auto insurance, it’s important to know exactly how much coverage you must have to operate a vehicle in Florida. Through the state’s no-fault auto insurance laws, everyone must carry these two types of auto insurance:
- Personal injury protection: This coverage, also referred to as PIP coverage, will pay for injuries to both the driver and passengers of a covered vehicle. In some cases, PIP coverage may pay for lost wages and other services normally done by someone who is injured in an accident. In other cases, it might pay for funeral expenses. The minimum coverage is $10,000.
- Property damage liability: Also referred to as PDL coverage, property damage liability pays for any damages you – or another authorized driver of your vehicle – cause to another person’s vehicle. It also includes things like buildings, fences, lamp posts, telephone poles, or other structures. The minimum coverage is $10,000.
Regardless of what anyone may tell you, the best way to get cheap auto insurance in Florida is to get the minimum required coverage. However, that’s not always the best decision for your financial situation and could put you in a bad spot should you get in an accident.
To make sure you and your family are fully covered in an accident – regardless of who is at fault – you may want to consider a more robust auto insurance policy. Keep reading for tips on how to get a comprehensive auto insurance policy for cheap in Florida.
5 Tips to Find Cheap Comprehensive Auto Insurance in Florida
Finding inexpensive auto insurance isn’t hard to do, but it does require a bit of patience and diligence. With these five tips, you should be on your way to finding cheap auto insurance in Florida.
1. Know How Much You Can Afford.
Before you start shopping for auto insurance, it’s important to know how much you can afford to spend each month or at one time on your premiums. It’s also important to know how much you can afford for a deductible or in the event that you are at fault and have to pay out of pocket for medical expenses or property damage.
2. Compare Multiple Matching Quotes.
It’s rarely a good idea to go with the first auto insurance quote you get. Every auto insurance company evaluates potential customers differently, so you may be able to get cheaper rates with another provider. Make sure you compare quotes that have the same coverage limits and types of coverage so you’re getting an accurate comparison.
3. Work with An Insurance Agent.
An insurance agent or broker can help you get auto insurance in Florida for cheap. Not only will an insurance agent be able to put together a comprehensive auto insurance policy that protects you in any accident, but they will also be able to pull together several quotes from different companies. They also may know about special savings or discounts.
4. Sign Up for Discounts.
Every auto insurance provider offers a list of discounts for policyholders. In some cases, you can review the list of available discounts upfront, but in other cases, the auto insurance provider may not be so transparent with the savings. If your auto insurance quotes don’t highlight the discounts you’re receiving, talk with the auto insurance provider about available discounts and how much you can save.
5. Consider Bundling Your Insurance Products.
One great way to get auto insurance in Florida for cheap is to bundle your auto insurance with another insurance policy. Most insurance companies offer various types of insurance products, and many insurance agents and brokers can connect you with the best insurance provider for your situation. Bundling discounts are typically in addition to other discounts offered.
How Can Bundling Auto Insurance Save Money?
The reality is that we live in a world where having insurance is either really important or it’s required. Auto insurance is required in most states, but if your vehicle is financed, you may have higher insurance requirements through your lender.
A Fiorella Insurance Agent can help you choose insurance that’s right for you.
Like with your vehicle financing company, your mortgage lender may require you to carry homeowner’s insurance, or your apartment complex may require you to carry renter’s insurance.
Here are some common bundles that can lead to inexpensive auto insurance:
- Auto and homeowner’s insurance: If you have to carry homeowner’s insurance, it’s a good idea to bundle it with your auto insurance for discounts on potentially both policies.
- Auto and renter’s insurance: Even if it’s not required, renter’s insurance is a great way to protect your assets, and you can get it for cheap when bundling with an auto insurance policy.
- Auto and life insurance: Some people may not need either homeowner’s or renter’s insurance and may instead benefit from bundling their auto insurance with a life insurance policy.
And if you need homeowner’s, auto, and life insurance? That’s typically not a problem either. Every insurance provider has a different selection, so take a look at what is offered when getting your quotes.
Where to Buy Auto Insurance in Florida for Cheap
Once you’ve figured out how much you can afford and you’ve done some research on how much coverage you think you want, it’s a good idea to get in contact with an insurance agent or broker.
A Fiorella Insurance agent or broker can help you figure out if your coverage choices are right for your financial situation and get multiple quotes – with discounts – for you to review, saving you time, energy, and stress.
Trying to find cheap auto insurance in Florida? Fiorella Insurance Agency can work with you to put together a comprehensive insurance policy that fully protects you and your assets.