How to Choose Auto Insurance Best Rates [+Tips] for Families

Are you looking for the best auto insurance rates for your family? Do you have teenage drivers and need to find the best rates for your whole family?

Are you looking for the best auto insurance rates for your family?

Do you have teenage drivers and need to find the best rates for your whole family?

Have you been researching quotes but aren’t sure how to get the best rates?

With a variety of auto insurance companies offering dozens of coverage options, choosing the best auto insurance rates for your family can be overwhelming.

Families with young children have different coverage requirements than families with teenage drivers, making the insurance dilemma even more complicated.

This blog covers some important aspects of choosing the best auto insurance rates for families, like the minimum required coverage in Florida, how to choose the best rates depending on your family situation, and tips on how to find deeper savings.

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Auto Insurance Best Rates: Minimum Required Coverage

Before you start searching for the best auto insurance rates for your family, it’s important to know what the minimum required coverage in Florida is.

Florida is one of the few states with no-fault auto insurance laws. These laws offer fast payouts for property damage and reduce the need for lawsuits. Anyone that has a vehicle with four wheels registered in the state must carry:

  • Personal injury protection (PIP): This coverage will pay for 80% of “necessary and reasonable medical expenses” as a result of a covered accident, regardless of who caused the accident. The minimum personal injury protection coverage is $10,000.
  • Property damage liability (PDL): This coverage will pay for property damage as a result of a covered accident caused by either you or another driver driving your vehicle. The minimum property damage liability coverage is $10,000.

In addition to these state-mandated minimums, if your vehicle is financed, your lender may have more robust requirements. It’s important to check with your vehicle financing company to see how much auto insurance coverage you need for yourself and your family.

How to Choose the Best Auto Insurance Rates for Families

Every family’s situation is unique – from the number of drivers in the household to the age of the drivers to the type of vehicles being driven, every auto insurance policy is tailor-built for you. But with all of the options out there, how do you choose the best auto insurance rates for your family? That will depend on a few factors.

How to Choose the Best Auto Insurance Rates for Families with Young Children

Families with young children will want auto insurance policies with different coverage limits than families with teenage drivers. For example, to ensure everyone that rides in your car is covered for injuries, you may want higher personal injury protection coverage.

There are different types of auto insurance coverage that can be added to your policy, giving you maximum financial protection:

  • Bodily injury liability (BIL): To avoid being sued for medical expenses, bodily injury liability covers injuries caused to someone else in a covered accident.
  • Collision: Usually sold with a deductible, collision coverage will pay for damages as a result of a collision with another vehicle or an object.
  • Comprehensive: After meeting a deductible, comprehensive coverage will reimburse you for losses due to theft, damage by something that isn’t considered collision, and contact with animals.

Collision and comprehensive coverages are important in the event that you damage your vehicle beyond repair in a covered accident. This will help cover the cost of replacing a vehicle, which is especially important for families with young children.

How to Choose the Best Rates for Families with Teen Drivers

Families with teenage drivers have a different set of worries to deal with. You want to make sure your teen drivers are fully covered in the event that they cause an accident. To compare the best auto insurance rates accurately, review these common insurance terms:

  • Premiums: What you pay for your policy is your premium – this could be monthly, or you could pay it all in one lump sum.
  • Deductible: A deductible is what you pay before your insurance company covers a claim – you may have separate deductibles for different coverage types.
  • Coverage limits: Your coverage limits are the maximum amount your insurance will cover – you are responsible for any costs that exceed this limit.

Each of these components, along with factors like driving history, type of vehicle, and sometimes even credit score, make up your auto insurance rates.

Tips for Choosing the Best Auto Insurance Rates for Families

Choosing the best auto insurance rates for families can be done easily with a little bit of guidance. Now that you know what makes up your auto insurance rates and what types of coverage your family might need, read through these tips for auto insurance best rates:

  • Calculate what you can afford: Higher deductibles mean lower premiums, so see what your family can afford to pay if you needed to pay a deductible.
  • Get multiple auto insurance quotes: Make sure you’re comparing apples to apples and get as many quotes as possible to make the best decision.
  • Inquire about discounts and bundles: Bundling your auto insurance with other insurance products can save money, as can the many discounts offered by most insurance companies.

With these three simple tips, your family can get the most coverage with the best auto insurance rates – without having to spend hours figuring out what everything means.

How an Insurance Agent or Broker Can Find the Best Auto Insurance Rates for Families

For some people, even reading through this guide is a bit overwhelming. With all of the terms and types of coverage available, how do you choose the best auto insurance policy for your family?

That’s where an insurance agent or broker comes in – they can help you figure out exactly how much coverage your family needs, how much coverage your family can afford, and compare multiple quotes for you so you can make sure you get the best auto insurance rates.

An insurance broker can also help you bundle products and get the most savings out of discounts you and your family are eligible for.

Are you looking for the best auto insurance rate for your family? Talk to Fiorella Insurance Agency today for help putting together the most comprehensive policy for your family.

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