Sick and tired of not being able to afford each month for car insurance? Your situation is no different than many other Florida drivers. Because there are so many options, it can be challenging to find the cheapest car insurance quotes in Tampa, FL.
The cost of insuring your cars can be expensive, but discounts can save money and there are some available to help bring down the price. Certain discounts will be triggered automatically when you purchase, but some may not be applied and must be inquired about before you get the savings. If you aren’t receiving every discount available, you’re paying more than you need to.
A little note about advertised discounts, most credits do not apply the the whole policy. A few only apply to specific coverage prices like liability, collision or medical payments. So when it seems like you could get a free car insurance policy, you won’t be that lucky. Any qualifying discounts will cut the cost of coverage.
Florida drivers can’t ignore all the ads for cheaper car insurance from companies such as Progressive, GEICO, Allstate and State Farm. They all seem to say the same thing that you’ll save big if you change your policy.
How can each company say the same thing? This is how they do it.
All companies are able to cherry pick for the type of customer that earns them a profit. A good example of a profitable customer might be profiled as between 25 and 40, a clean driving record, and has excellent credit. Any driver who matches those parameters receives the best rates and as a result will probably cut their rates substantially.
Drivers who do not match these standards will have to pay a higher premium and ends up with the customer not buying. The ads say “customers who switch” not “people who quote” save that much. That’s the way insurance companies can confidently state the savings.
Because of the profiling, it is so important to compare as many rates as you can. It’s impossible to know which insurance companies will have the lowest rates.
When it comes to buying coverage, there really is not a one size fits all plan. Every insured’s situation is different so your insurance should reflect that For instance, these questions might point out if your insurance needs could use an agent’s help.
If you can’t answer these questions but a few of them apply, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It’s fast, doesn’t cost anything and may give you better protection.
Having a good grasp of your policy aids in choosing appropriate coverage at the best deductibles and correct limits. Policy terminology can be confusing and reading a policy is terribly boring. Below you’ll find typical coverage types found on the average car insurance policy.
Uninsured/Underinsured Motorist (UM/UIM) – Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include hospital bills for your injuries as well as your vehicle’s damage.
Since a lot of drivers only carry the minimum required liability limits (10/20/10), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea. Most of the time the UM/UIM limits are identical to your policy’s liability coverage.
Med pay and Personal Injury Protection (PIP) – Med pay and PIP coverage provide coverage for bills such as pain medications, EMT expenses and hospital visits. They are used to cover expenses not covered by your health insurance program or if you are not covered by health insurance. It covers you and your occupants and will also cover if you are hit as a while walking down the street. PIP is only offered in select states but it provides additional coverages not offered by medical payments coverage
Auto liability insurance – Liability coverage will cover damages or injuries you inflict on other people or property by causing an accident. Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show policy limits of 100/300/100 which stand for $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property. Some companies may use one number which is a combined single limit which limits claims to one amount and claims can be made without the split limit restrictions.
Liability insurance covers things such as emergency aid, legal defense fees and pain and suffering. How much liability coverage do you need? That is up to you, but you should buy as high a limit as you can afford. Florida state law requires minimum liability limits of 10,000/20,000/10,000 but it’s recommended drivers buy higher limits.
Collision – This coverage covers damage to your vehicle caused by collision with an object or car. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for claims like rolling your car, colliding with another moving vehicle, hitting a parking meter, crashing into a ditch and crashing into a building. Paying for collision coverage can be pricey, so consider removing coverage from vehicles that are older. Another option is to raise the deductible to save money on collision insurance.
Comprehensive insurance – Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive insurance covers things like a broken windshield, falling objects, damage from getting keyed and damage from flooding. The most your car insurance company will pay is the market value of your vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.
More information can be read on the website for the Florida Office of Insurance Regulation located here. Consumers can get help finding coverage, read state legal mandates and laws, view agent and company licensing information, and download brochures.
Discount car insurance is attainable both online and with local Tampa insurance agents, so compare prices from both in order to have the best chance of saving money. Some companies do not offer online price quotes and most of the time these small, regional companies sell through independent agents.
As you shop your coverage around, it’s a bad idea to buy lower coverage limits just to save a few bucks. In many cases, an insured dropped liability coverage limits only to find out that the small savings ended up costing them much more. Your strategy should be to purchase plenty of coverage at an affordable rate while not skimping on critical coverages.