Nobody anticipates paying for car insurance, particularly when it costs too dang much.
Unbelievably, the vast majority of car insurance customers have been with the same company for more than four years, and roughly 40% of drivers have never compared rates to find lower-cost insurance. The average driver in Florida could cut their rates by roughly $1,100 a year by just shopping around, but they just don't want to save money by comparing rate quotes. Companies like State Farm and GEICO persitently shower you with TV and radio ads and it is difficult to see past the geckos and flying pigs and take the time to shop coverage around.
The car insurance companies shown below offer price comparisons in Sarasota, FL. To buy the best cheap auto insurance in Florida, we suggest you click on several of them to get the best price comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Malibu LS||$1,626||$813||$136|
|Chevrolet Silverado Crew Cab Hybrid 4WD||$1,708||$854||$142|
|Dodge Ram Crew Cab Laramie 4WD||$1,566||$783||$131|
|Ford Edge Sport AWD||$1,228||$614||$102|
|Ford Escape Limited 4WD||$1,152||$576||$96|
|Ford F-150 STX Super Cab 4WD||$942||$471||$79|
|Ford Focus SES 2-Dr Coupe||$1,482||$741||$124|
|Honda Accord EX 4-Dr Sedan||$1,040||$520||$87|
|Honda CR-V LX 4WD||$914||$457||$76|
|Honda Civic EX 4-Dr Sedan||$1,654||$827||$138|
|Nissan Altima 2.5 4-Dr Sedan||$1,378||$689||$115|
|Toyota Camry Hybrid||$1,484||$742||$124|
|Toyota Corolla XLE||$1,548||$774||$129|
|Toyota Tacoma Double Cab 4WD||$1,700||$850||$142|
|Volkswagen Jetta S 4-Dr Sedan||$1,298||$649||$108|
|Get Your Own Custom Quote Go|
Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, multi-policy, and safe-driver. Table data does not factor in vehicle garaging location which can influence premiums considerably.
An analysis of deductible level
The information below shows how choosing a deductible and can influence Honda Accord yearly insurance costs for each different age category. The information is based on a single male driver, full coverage, and no policy discounts are applied.
Honda Accord rates are for example purposes only. To get rates for your specific vehicle, click here.
Can higher deductibles save money?
When shopping for auto insurance, a common question is how high should the deductibles for physical damage be. The premium rates below determine the rate fluctuation when you select higher and lower policy deductibles. The first set of prices uses a $250 physical damage coverage deductible and the second price chart uses a $500 deductible.
Nissan Sentra rates are for example purposes only. To get rates for your specific vehicle, click here.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Sentra 2.0 S||$280||$640||$418||$24||$124||$1,511||$126|
|Sentra 2.0 SR||$280||$640||$418||$24||$124||$1,511||$126|
|Sentra 2.0 SL||$322||$640||$418||$24||$124||$1,553||$129|
|Sentra SE-R SPEC V||$322||$736||$418||$24||$124||$1,649||$137|
|Get a Quote for Your Vehicle Go|
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Sentra 2.0 S||$228||$516||$418||$24||$124||$1,310||$109|
|Sentra 2.0 SR||$228||$516||$418||$24||$124||$1,310||$109|
|Sentra 2.0 SL||$262||$516||$418||$24||$124||$1,344||$112|
|Sentra SE-R SPEC V||$262||$594||$418||$24||$124||$1,422||$119|
|Get a Quote for Your Vehicle Go|
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Prices do not factor in vehicle garaging location which can affect coverage prices substantially.
We can derive from the above data that using a $250 deductible would cost the average driver about $17 more each month or $204 each year than opting for the higher $500 deductible. Since the policyholder would be required to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you normally go at a minimum 15 months between claims, you would more than likely save some money if you opt for a higher deductible. Here is an example of how you can do this calculation yourself.
|Average monthly premium for $250 deductibles:||$128|
|Average monthly premium for $500 deductibles (subtract):||- $111|
|Monthly savings from raising deductible:||$17|
|Difference between deductibles ($500 - $250):||$250|
|Divide difference by monthly savings:||$250 / $17|
|Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible||15 months|
An important thing to remember is that increasing deductibles to save money results in a higher out-of-pocket expense when you have a physical damage claim. That will force you to have enough money in the bank in the event you have to pay the higher deductible in order to repair your vehicle.
Auto insurance rates based on gender
The chart below illustrates the difference between auto insurance costs for male and female drivers in Sarasota. Data assumes no accidents or driving violations, comp and collision included, $1,000 deductibles, drivers are single, and no discounts are applied on a Toyota Corolla XRS.
Toyota Corolla rates are for example purposes only. To get rate quotes for your specific vehicle, click here.
Companies offer money-saving discounts on insurance
Some companies do not list every policy discount very clearly, so the next list breaks down some of the best known in addition to some of the lesser obvious discounts that you may qualify for. If you are not receiving all the discounts possible, you're paying more than you need to.
- Anti-theft Discount - Vehicles optioned with advanced anti-theft systems are less likely to be stolen and that can save you a little bit as well.
- Driver Education Discount - Make teen driver coverage more affordable by requiring them to successfully complete driver's ed class as it will make them better drivers and lower rates.
- Professional Memberships - Having an affiliation with a professional or civic organization could trigger savings when getting a Sarasota auto insurance quote.
- Accident Forgiveness Coverage - Not really a discount, but some companies like GEICO, Progressive, and Allstate allow you one accident before they charge you more for coverage with the catch being you have to be claim-free for a certain period of time.
- Driving Data Discount - Insureds who allow their company to track when and where they use their vehicle by installing a telematics device like Drivewise from Allstate or In-Drive from State Farm might get better premium rates if they are good drivers.
- Mature Driver Discount - If you qualify as a senior citizen, you may be able to get a small decrease in premiums.
- Auto/Home Discount - If you can bundle your auto and home insurance and place coverage with the same company they may give you a discount of at least 10 to 15 percent or more.
- Safe Driver Discounts - Drivers who avoid accidents can save as much as half off their rates than less cautious drivers.
- Early Renewal Discounts - Some insurance companies reward drivers for buying a policy before your current coverage expires. It could save around 10% when you buy Sarasota auto insurance online.
- Defensive Driver Discounts - Taking a defensive driver course may get you a small discount depending on where you live.
Drivers should understand that most discount credits are not given to the entire cost. Some only apply to the price of certain insurance coverages like medical payments or collision. Even though it may seem like you would end up receiving a 100% discount, it's just not the way it works. But all discounts will positively reduce your policy premiums.
Companies who might offer some of the discounts shown above may include but are not limited to:
Before you buy a policy, ask every prospective company which discounts they offer. Some discounts might not be offered everywhere.
What if I want to buy from local Sarasota auto insurance agents?
A lot of people just want to get professional advice from a licensed agent. Agents will help you protect your assets and help you file claims. One of the best bonuses of comparing insurance prices online is that you can find better rates and still choose a local agent.
Upon completion of this simple form, your insurance data is emailed to agents in your area that can provide free Sarasota auto insurance quotes for your business. It's much easier because you don't need to contact any insurance agencies because prices are sent instantly to you. If you need to compare rates for a specific company, you just need to search and find their rate quote page and fill out their quote form.
Picking the best insurer requires more thought than just a low price. Here are some questions to ask:
- Does the company allow you to choose your own collision repair facility?
- Will the agent help in case of a claim?
- How many years of experience in personal auto insurance do they have?
- When do they do policy reviews?
- Will the quote change when the policy is issued?
- Do they regularly work with personal auto policies in Sarasota?
- Is there a 24/7 contact number?
Car insurance agents in Sarasota come in two varieties
If you're trying to find a reliable agent, you need to know there are two types of agencies and how they differ in how they quote coverages. Sarasota agents are classified as either independent agents or exclusive agents. Both can provide car insurance policies, but it's worth learning the difference between them since it can affect buying decisions.
Exclusive insurance agents work for only one company like American Family, State Farm, and AAA. These agents are unable to provide other company's prices so if the price isn't competitive there isn't much they can do. These agents are highly trained on their products and sales techniques which aids in selling service over price.
Independent Car Insurance Agents
Independent insurance agents do not have single company limitations so they have the ability to put coverage with a variety of different insurance companies and potentially find a lower price. If you are not satisfied with one company, they simply move the coverage in-house and you don't have to switch agencies.
If you need cheaper car insurance rates, you need to include rate quotes from several independent insurance agents in order to have the best price comparison.
How do I know if I need professional advice?
Always remember that when buying coverage online or from an agent, there really is no single plan that fits everyone. Your needs are unique to you.
These are some specific questions might help in determining whether or not you will benefit from professional help.
- How high should my uninsured/underinsured coverage be in Florida?
- Do I need PIP coverage since I have good health insurance?
- Do I need special endorsements for business use of my vehicle?
- Why does it cost so much to insure a teen driver in Sarasota?
- I have good health insurance, so how much medical payments coverage do I need?
- What is the ISO rating for a vehicle?
- Is water damage covered by my policy?
- Why do I need rental car insurance?
- I have a DUI can I still get coverage?
- Who does medical payments coverage extend to?
If you're not sure about those questions but a few of them apply, you may need to chat with an agent. If you don't have a local agent, take a second and complete this form. It is quick, free and can help protect your family.
Decisions you make can impact your prices
When buying auto insurance it's important to understand the factors that go into determining the level of your policy premiums. If you have a feel for what impacts premium levels, this enables informed choices that may reward you with lower premium levels.
The list below includes just a few of the factors auto insurance companies consider when setting your rates.
How your age affects rates - Inexperience drivers are proven to be less responsible when at the wheel of a vehicle therefore auto insurance rates are much higher. Having to add a teenage driver to your auto insurance policy will cause a huge premium hike. Older people have been proven to be more responsible, cost insurance companies less in claims, and receive fewer citations.
Little extras can really add up - Insurance companies have many optional add-on coverages that can add up if you aren't careful. Coverages for coverage for rental cars, towing, and extra life insurance coverage are some examples. They may seem good when talking to your agent, but if you don't need them remove them from your policy.
Save money with high credit - Your credit score is a big factor in determining what you pay for auto insurance. Consumers who have good credit tend to be more responsible and file fewer claims as compared to drivers with lower credit ratings. Therefore, if your credit is not that good, you could be paying less to insure your vehicle by improving your rating.
High coverage deductibles save money - Comprehensive and collision coverage deductibles tell how much you are required to spend before your auto insurance pays a claim. Insurance for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. Some instances where coverage would apply would be colliding with a stationary object, hail damage, or theft of your vehicle. The more of the claim you are required to pay out-of-pocket, the less your auto insurance will be.
Uninterrupted coverage lowers prices - Allowing your auto insurance policy to lapse is a quick way to drive up your policy premiums. In addition to paying higher rates, not being able to provide proof of insurance may earn you a license revocation or jail time. You may have to file a SR-22 with the Florida motor vehicle department.
Costs impacted by your city - Living in small towns and rural areas has it's advantages when it comes to auto insurance. People in densely populated areas have to deal with traffic congestion and longer commute times. Fewer drivers on the road translates into fewer accident claims in addition to lower liability claims
Where do you drive? - Driving more miles annually the higher the price you pay to insure it. A lot of insurance companies calculate prices based on how the vehicle is used. Autos that are left in the garage qualify for better rates than cars that get driven a lot. It's a smart idea to ensure your auto insurance coverage states the proper vehicle usage.
Safer cars means lower prices - Cars with high safety ratings can get you lower premiums. Highly rated vehicles result in less severe injuries and reduced instances of injuries means less money paid by your insurance company and lower rates for you. If your car, truck, or SUV has ratings of a minimum an "acceptable" rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website you are probably receiving a discount.
Insurance is an important decision
Even though it can be expensive, paying for insurance serves an important purpose.
- Just about all states have minimum liability requirements which means the state requires specific minimum amounts of liability coverage if you don't want to risk a ticket. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your vehicle has a loan, more than likely the lender will make it mandatory that you buy insurance to ensure loan repayment if the vehicle is totalled. If you cancel or allow the policy to lapse, the lender may have to buy a policy to insure your vehicle for a lot more money and force you to reimburse them the higher premium.
- Insurance safeguards both your assets and your vehicle. It will also cover many types of medical costs for you, any passengers, and anyone injured in an accident. Liability coverage also covers legal expenses if you are named as a defendant in an auto accident. If mother nature or an accident damages your car, collision and comprehensive (also known as other-than-collision) coverage will pay to restore your vehicle to like-new condition.
The benefits of having insurance more than offset the price you pay, particularly when you have a large claim. According to a survey of 1,000 drivers, the average driver overpays as much as $800 each year so it's very important to do a rate comparison at every renewal to help ensure money is not being wasted.
One last note
Insureds who switch companies do it for a number of reasons such as unfair underwriting practices, poor customer service, lack of trust in their agent and even questionable increases in premium. Whatever your reason, finding a great new company is easier than you think.
You just learned some good ideas how you can find cheaper coverage online. The key thing to remember is the more times you quote, the better your comparison will be. You may even find the best price on insurance is with a small local company.
Cheaper insurance in Sarasota is possible on the web and from local agencies, and you should compare price quotes from both in order to have the best chance of saving money. A few companies don't offer the ability to get a quote online and usually these small, regional companies only sell through local independent agents.
Additional detailed information can be read in the articles below:
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- What Insurance is Cheapest for a Jeep Wrangler in Florida? (FAQ)
- Understanding Your Insurance Deductible (Insurance Information Institute)
- Parking Tips to Reduce Door Dings (State Farm)
- Child Safety FAQ (iihs.org)
- Auto Insurance Learning Center (State Farm)