Florida auto insurance rates can be an expensive proposition for a number of reasons, but if you know who to talk to and what questions to ask, you can help bring your Florida auto insurance costs under control fairly quickly. Start by educating yourself on multi-line discounts, meaning that if you combine all of your insurance needs with one carrier, you will likely qualify for an across the board discount on everything from auto insurance to homeowners premiums. Increasing your Florida auto insurance deductibles will also help lower costs. The kind of car you drive, how often you drive, and even where you drive in the state of Florida are factors affecting your rates as well. Once you are familiar with the kinds of coverage you may need, consulting a licensed Florida auto insurance broker may be your best bet, since a licensed auto insurance agent can help sort through the maze of options to secure the best possible coverage at the best possible rates according to your needs.
One of the main reasons auto insurance in Florida is so expensive of course, is because Florida drivers are required to purchase $10,000 in personal injury protection, regardless of who is at fault. The idea behind the personal injury protection requirement was to cut down on lawsuits, and get payments out quickly for injuries resulting from minor car accidents. In the last five years however, the state has seen a 275 percent increase in the number of personal injury protection lawsuits, mostly by drivers looking to take advantage of the no fault system. As a result, Florida car insurers were put on notice to reduce PIP premiums by 10 percent as of October 1, 2012, or make a case to regulators why they could not. A number Florida auto insurers have filed paperwork asking the state to increase PIP rates since the deadline, making a Florida auto insurance broker even more valuable in the search for affordable auto insurance rates. Brokers not only have access to up to the minute auto insurance rates for drivers who qualify for discounts, they also have access to a list of auto insurance companies who have already seen their new rates approved (and in some cases, reduced), as well as a Florida state auto insurance pool for drivers who are considered high risk. These companies specialize in providing insurance options for drivers with DUI's, reckless driving violations, accidents and other issues drivers may have even before the PIP requirement.
Because Florida car insurance requirements and premiums can seem overwhelming, it's important to know that there are ways to reduce costs. Many of your questions can be answered by going online to check out what factors impact your rates, the basic coverage required by Florida state law, and any additional changes to the PIP laws that may affect insurance rates you should be aware of. You may find that by combining your efforts with those of a Florida auto insurance broker, your Florida auto insurance rates may be more manageable, and more affordable, than you could have ever imagined.
