Auto Insurance Florida: How Much Is It?

Auto Insurance Florida – Use our insurance online calculator

Driving without an auto insurance Florida can be an adventure. Florida ranks number one state in the nation in terms of the number of questionable insurance claims each year. This results in higher auto premiums for all other drivers in Fl, while those committing the fraud receive benefits. Drivers should be aware of types of fraud, including staged or intentional accidents, and take care to drive safely. Keeping accidents off your driving history helps keeps premiums lower.

Florida’s Minimum Auto Insurance Requirements

Florida drivers must maintain certain state-required liability insurance coverage. This ensures they can pay for any injuries or damage that happens to another party in an auto accident. The standard liability insurance is not required in Florida. However, drivers must still have certain types of car coverage if they want to register a vehicle in the state. In order to maintain a valid Fl registration and license plates, drivers must purchase a minimum of $10,000 personal injury protection coverage, and $10,000 of property damage liability (PDL) coverage.

PIP/no-Fault Insurance

Personal injury protection (PIP) covers the driver regardless of who causes an accident and is known as no-fault insurance. PIP also covers anyone else in the household, as long as they do not own their own vehicle. PIP also covers children if they are injured while riding as a passenger on a school bus. If a driver is injured while in another person’s vehicle while acting as a pedestrian or riding a bicycle, PIP insurance will provide coverage. PDL coverage pays for any damages the policyholder or his family members commit to another person’s property as the result of a motor vehicle accident.

If a driver chooses not to insure his vehicle in Florida, he must surrender the car’s license plate along with the registration to any tax collector. Or Fl driver license office before canceling his auto insurance Florida. If a driver receives a license suspension for driving without car insurance, Florida, there is no temporary license.

Additional Coverage Types

Comprehensive and collision coverage are options drivers can select when buying auto insurance, Florida. These types of coverage help take care of damages to a person’s vehicle, whether it resulted from a collision with another car or object or a force of nature such as a big tree branch falling during a rainstorm. Uninsured/underinsured motorist coverage either compensates accident victims if the driver causing an accident does not have enough car insurance Florida to pay for all the damages, or has no insurance at all.

Factors Affecting Auto Insurance Florida Premiums

Auto insurance Florida companies make a profit by estimating the number of drivers who will be in accidents each year, and the dollar amounts needing to be paid out for damages and medical bills. Estimating risk involves complex financial models, along with years of historical accident data. Additionally, each consumer brings his own set of characteristics into the equation, which has an effect on his risk profile.

Credit history/Premiums

Recently, companies have even started to consider a person’s credit history when calculating premiums. People who have low credit scores seem to get in more car accidents. A person’s age group also plays a part, especially for younger drivers. The driver’s history of accidents or traffic violations also be factors and can have a dramatic effect if several violations or a DUI are on their record. The state a person lives also has some impact on his rates.

Latest Auto Insurance Florida Legislation

Two new bills in the Senate may change Florida’s car insurance Fl laws. The new legislation would lower rates for drivers and provide some remedy for the increasing fraud. Many companies support the bills since they would potentially be able to reject a larger number of claims that are suspected as fraudulent.

Average Rates on Auto Insurance Florida

The average rates for car insurance Florida, for the state of Florida in 2014 was $1,699. Average rates are tracked on an annual basis and updated each month to reflect any changes. In Florida, the current cost of insurance has risen very slightly in the first few months of 2013, to bring the moving average up to $1,704 per year.

Florida’s Car Accident Statistics

The National Highway Traffic and Safety Administration is an organization that tracks fatal accident statistics by state. Traffic accidents are tracked in different ways, divided by different types of crashes. In Florida, 2017 saw 2,742 total traffic fatalities, with 1,474 of those taking place in urban cities in the state. The rest of the fatalities happened in rural areas of Florida.

When viewing the statistics based on the number of fatalities per 100 million vehicle miles driven (VMD), rural areas Fl appear more dangerous since 2.82 fatalities took place per 100 million VMD. Only .93 fatalities per 100 million VMD took place in more crowded urban areas. A larger proportion of drivers died in car accidents because they were not wearing a seatbelt than restrained drivers. Additionally, speeding caused 535 fatalities, and 770 fatalities were due to drivers with a blood alcohol content above the legal limit of .08%.

Florida Traffic Fatality Rates

Florida’s overall traffic fatality rates have been scaling each year since 2011, from 2,408 total fatalities in 2011 to 3,221 fatalities in 2018. In comparison to the United States average, Florida had 1.31 fatalities per 100 million VMD, while the U.S. was slightly lower at 1.14 fatalities per 100 million VMD.

How Much Does Car Insurance Florida Cost Per Month?

Based on Florida’s average annual auto insurance Florida cost of $1,704 as of April 2014, the average per month translates to $142. This compares to a monthly national average of $119.50.

Finding Good Rates on Auto Insurance

Finding the best rates on Car insurance Fl may take a little bit of work, but thanks to the internet, the whole process is much faster. Many companies provide online quote tools that can give consumers personalized quote information in about 10 minutes. One of the best ways to keep premiums low is to comparison shop among companies. Auto insurance Florida is a competitive business, and insurers want to provide the lowest premiums possible.