Having to pay for expensive insurance in Lauderdale Lakes can dry up your bank account and force you to make tough financial choices. Comparing rates annually is recommended to tighten up your finances.

Shocking but true, the majority of drivers have bought insurance from the same company for at least four years, and almost 40% of drivers have never compared rates to find cheaper insurance. Florida drivers could pocket almost $1,130 a year by just comparing quotes, but they underestimate the amount of savings they would get if they moved their coverage to a different company. You have multiple car insurance companies to buy insurance from, and even though it's nice to have a choice, so many choices can make it hard to find a good deal.

It's important to take a look at other company's rates every six months since prices are usually higher with each renewal. If you had the lowest price on insurance at your last renewal you will most likely find a better rate today. Ignore everything you know about insurance because you're about to learn the proper way to reduce your cost while improving coverage.

The method we recommend to get policy rate comparisons is to know the fact all the major auto insurance companies pay for the opportunity to give you rate quotes. To get started, all you need to do is provide information such as if a SR-22 is required, the ages of drivers, how much school you completed, and which vehicles you own. The data is sent automatically to many different companies and you get price estimates quickly.

If you would like to compare rates now, click here and see if a lower rate is available in Lauderdale Lakes.

The companies in the list below provide free quotes in Florida. If several companies are displayed, it's a good idea that you click on several of them to find the most competitive car insurance rates.

Insurance Rates for Popular Vehicles in Lauderdale Lakes
Make, Model, and Trim Level Annual Policy Premium 6-month Policy Premium Monthly Premium
Chevrolet Colorado LT Crew Cab 4WD $1,292 $646 $108
Chevrolet Equinox LS 2WD $1,258 $629 $105
Chevrolet Silverado LS Regular Cab 2WD $1,316 $658 $110
Dodge Grand Caravan SXT $1,666 $833 $139
Dodge Ram Crew Cab SLT 2WD $1,332 $666 $111
Ford Escape XLT 2WD $928 $464 $77
Ford F-150 FX2 2WD $1,440 $720 $120
Ford Focus SE 4-Dr Sedan $1,440 $720 $120
Ford Fusion Sport 4-Dr Sedan $1,428 $714 $119
Honda Accord LX-S 2-Dr Coupe $1,232 $616 $103
Honda CR-V EX-L 2WD $938 $469 $78
Honda Civic VP 4-Dr Sedan $1,504 $752 $125
Honda Odyssey EX-L $1,912 $956 $159
Mazda 3 S Sport 4-Dr Hatchback $1,368 $684 $114
Nissan Altima 2.5 S 4-Dr Sedan $1,168 $584 $97
Toyota Camry XLE $1,580 $790 $132
Toyota Corolla S $1,738 $869 $145
Toyota RAV4 Limited 2WD $1,224 $612 $102
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Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Table data does not factor in specific zip code location which can affect premiums considerably.

Gender-based auto insurance rates

The example below illustrates the comparison of auto insurance rates for male and female drivers in Lauderdale Lakes. The data assumes a clean driving record, no at-fault accidents, comp and collision included, $250 deductibles, single marital status, and no discounts are applied on a Nissan Altima 2.5 S.

Nissan Altima rates are for example purposes only. To get rate quotes for your specific vehicle, click here.

Liability-only versus full coverage

The diagram below examines Nissan Altima insurance prices with full coverage compared to only the Florida minimum liability coverage. The rate quotes are based on no violations or accidents, $1,000 deductibles, married male driver, and no other discounts are factored in.

Nissan Altima rates are for example purposes only. To get rates for your specific vehicle, click here.

Deciding between full coverage and liability only

There is no definitive formula to delete physical damage coverage on your policy, but there is a guideline you can use. If the yearly cost of full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.

For example, let's pretend your Nissan Altima replacement value is $6,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $5,000 after paying your policy deductible. If you are paying more than $500 annually for physical damage coverage, then you might want to consider buying only liability coverage.

There are a few cases where eliminating full coverage is not in your best interest. If you still owe a portion of the original loan, you have to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not drop full coverage.

Drive responsibly or pay higher rates

The information below highlights how speeding tickets and at-fault fender-benders increase Chevrolet Malibu insurance rates for different age groups. The price estimates are based on a married female driver, comp and collision included, $500 deductibles, and no policy discounts are applied.

Chevrolet Malibu rates are for example purposes only. To get rates for your specific vehicle, click here.

Insurance policy discounts you can't miss

Not many people think insurance is cheap, but there are discounts available to cut the cost considerably. Most are applied when you complete an application, but a few need to be asked for prior to receiving the credit.Discount insurance

Discounts reduce rates, but you should keep in mind that most of the big mark downs will not be given to all coverage premiums. Most only apply to specific coverage prices like liability and collision coverage. Just because you may think you can get free auto insurance, companies wouldn't make money that way.

A few popular companies and their offered discounts are outlined below.

Before buying, ask each insurance company which credits you are entitled to. Some discounts listed above may not be offered in Lauderdale Lakes. To find insurance companies with significant discounts in Florida, click this link.

Make smart decisions and lower your rates

Multiple criteria are considered when you get your auto insurance bill. Some factors are common sense like a motor vehicle report, but other criteria are less obvious like your continuous coverage or your financial responsibility. An important part of buying insurance is that you know the factors that help calculate the level of your policy premiums. If you have some idea of what positively or negatively impacts your premiums, this allows you to make good choices that may result in cheaper rates.

Higher physical damage deductibles are cheaper - Physical damage deductibles define the amount the insured will be required to pay before your auto insurance pays a claim. Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, insures against damage to your car. Examples of covered claims are collision with another vehicle, hail damage, and damage from wind. The larger the amount the insured is willing to pay, the better rate you will receive.

Gaps in coverage mean higher auto insurance rates - Not maintaining insurance is a misdemeanor and as a result your rates will increase for letting your coverage cancel without a new policy in place. Not only will you pay higher rates, the inability to provide proof of insurance might get you a hefty fine and possibly a revoked license. You will then be forced to submit proof of financial responsibility or a SR-22 with the Florida motor vehicle department.

Gals tend to be lower risk - Statistics show that men are more aggressive behind the wheel. Now that doesn't mean males are worse at driving than females. They both cause accidents at about the same rate, but men have accidents that have higher claims. Men also get more serious tickets like reckless driving and DUI. Males from age 16 to 21 are the most expensive to insure and therefore have the most expensive auto insurance rates.

Car insurance liability protection limits - A critical coverage on your policy, liability insurance is the coverage that protects you if you are ruled to be at fault for personal injury or accident damage. Liability provides for a legal defense which can cost thousands of dollars. This coverage is relatively inexpensive when compared to the cost of physical damage coverage, so drivers should carry high limits.

Do you really need the extra coverages? - There are a lot of extra add-on coverages that sound like a good idea at the time but may not be useful. Insurance for rental car reimbursement, towing coverage, and membership fees are probably not needed. The coverages may be enticing when talking to your agent, but if you don't need them think about removing them and cutting costs.

When should you not file a claims? - If you file claims often, you can expect increased rates or even have your policy non-renewed. Car insurance companies in Florida provide most affordable rates to people who do not file claims often. Your car insurance is intended to be relied upon for major claims that would cause financial hardship.

Your address can push rates up or down - Choosing to live in small towns and rural areas is a good thing when trying to find low car insurance rates. Less people translates into fewer accident claims in addition to fewer liability claims. Drivers who live in large Florida cities have more traffic problems and more time behind the wheel. Spending more time driving means more chances of being involved in an auto accident.

Insurance agents can help

When quoting and comparing your policy for your personal vehicles, there isn't really a best way to insure your cars. Your needs are not the same as everyone else's so your insurance needs to address that.Drive safe and save Here are some questions about coverages that may help you determine if your situation could use an agent's help.

If you don't know the answers to these questions but you think they might apply to your situation, you may need to chat with an insurance agent. To find lower rates from a local agent, take a second and complete this form or go to this page to view a list of companies. It's fast, free and you can get the answers you need.

Vehicle claim statistics

Which vehicles statistically have the fewest claims? The following statistics outline the good and bad makes and models for the overall chance of having to file claims for each type of coverage listed.

Liability Coverage Claims by Manufacturer Model
Lowest Claims Highest Claims
Acura MDX Chevrolet Cruze
Audi A6 Kia Rio
Chevrolet Corvette Chrysler 200
Volvo XC60 Chevrolet Impala
Subaru Outback Hyndai Accent
Subaru Forester Mitsubishi Mirage

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Lowest and Highest Car Insurance Collision Claims by Vehicle Make and Model
Lowest Claims Highest Claims
Jeep Wrangler BMW M6
Ford Edge Maserati Ghibli
Mini Cooper Bently Continental GT
Nissan Xterra Ferrari 458
Ford F-150 SuperCrew Nissan GT-R
Chevrolet Colorado Bentley Continental Flying Spur

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Comprehensive Coverage Claims by Manufacturer Model
Lowest Claims Highest Claims
Smart ForTwo Bentley Continental GT
Chevy Spark Audi S7
Infiniti QX50 Bentley Continental GTC
Nissan Xterra Porsche Panamera GTS
GMC Sierra 2500 Maserati Granturismo
Ford F-350 BMW M6

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Vehicles with the Lowest and Highest Medical Payment Claims
Lowest Claims Highest Claims
Audi A4 Allroad Chrysler 200
Chevrolet Silverado 3500 Nissan Sentra
Ford F-350 SuperCrew Hyundai Accent
Land Rover Range Rover Sport Chevrolet Spark
Tesla Model S Chevrolet Sonic
Ford Expedition Mitsubishi Mirage

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Do drivers who switch really save?

Florida consumers can't get away from ads that claim the cheapest rates from the likes of Allstate and Progressive. They all seem to advertise claims that drivers can save some big amount if you move your policy.

How can each company offer drivers better rates? Here is the trick they use.

Insurance companies have a preferred profile for the type of driver that will generate a profit. An example of this type of risk profile may need to be a married male, has other policies, and drives a safe vehicle. Any customer that hits that "sweet spot" will get very good Lauderdale Lakes auto insurance rates and will probably save a lot on Lauderdale Lakes car insurance if they switch.

People who do not meet these standards will see a more expensive rate and this results in the customer buying from a different company. The ads say "drivers who switch" but not "all drivers who get quotes" save that kind of money. That's the way companies can truthfully make claims that they all have the best premium rates.

This really drives home the point why drivers must get as many free Lauderdale Lakes auto insurance quotes as possible. It is impossible to guess with any certainty which company will give you lower auto insurance rates than your current company.

Smart consumers save more

In this article, we presented some good ideas how to find cheaper coverage online. The key thing to remember is the more rate comparisons you have, the more likely it is that you will get a better rate. You may even discover the lowest rates come from the smaller companies. Smaller companies may cover specific market segments cheaper compared to the large companies like State Farm and Allstate.

As you shop your coverage around, make sure you don't buy lower coverage limits just to save a few bucks. In many instances, an insured cut liability limits or collision coverage and discovered at claim time they didn't purchase enough coverage. The goal is to buy enough coverage at an affordable rate and still be able to protect your assets.

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