Would you like to find more affordable auto insurance rates in Panama City, FL? Finding affordable quotes might seem difficult for vehicle owners that are relatively new to comparing rates over the internet. Since there are so many online companies, how can you efficiently compare them all to find the best pricing?
A recent study showed that about 70% of customers kept their policy with the same company for at least four years, and nearly the majority have never quoted rates to find lower-cost coverage. The average driver in Panama City could save as much as $1,100 a year, but they don't want to take the time to compare rate quotes online.
If you are insured now, you will definitely be able to cut your premiums using these tips. The intent of this article is to familiarize you with the most effective way to quote insurance and also save some money in the process Although Florida drivers should learn how insurance companies price online insurance and use it to your advantage.
Cheaper Panama City insurance rates with discounts
Car insurance companies don't necessarily list the entire discount list very well, so the following list contains some of the best known as well as the least known discounts that you can inquire about if you buy Panama City auto insurance online. If you check and find you aren't receiving every discount you qualify for, you are just wasting money.
- Paperwork-free - Some larger companies may give you up to $50 get Panama City auto insurance on their website.
- Accident Waiver - Not necessarily a discount, but some insurance companies will allow you to have one accident without getting socked with a rate hike if you are claim-free for a specific time period.
- Braking Control Discount - Cars, trucks, and SUVs equipped with ABS or steering control have fewer accidents and qualify for as much as a 10% discount.
- Savings for New Vehicles - Buying a new car instead of a used car can be considerably cheaper due to better safety requirements for newer models.
- Passive Restraints - Vehicles equipped with air bags or automatic seat belts can qualify for discounts of more than 20%.
- Discount for Life Insurance - Select companies reward you with a lower rate if you buy a life insurance policy as well.
- Panama City Homeowners Pay Less - Simply owning a home can save you money since home ownership demonstrates responsibility.
- Seat Belt Usage - Forcing all vehicle occupants to use a seat belt can save up to 10 percent (depending on the company) on the premium charged for medical payments and/or PIP.
- Distant College Student Discount - Kids who attend college more than 100 miles from Panama City and do not take a car to college may be able to be covered for less.
It's important to note that most discounts do not apply the the whole policy. Most only cut the cost of specific coverages such as liability, collision or medical payments. So when it seems like you can get free auto insurance, you won't be that lucky.
A few popular companies and some of the premium reductions they offer include:
- Progressive has discounts for online quote discount, online signing, homeowner, good student, and multi-vehicle.
- AAA discounts include multi-policy, education and occupation, multi-car, AAA membership discount, and pay-in-full.
- Farmers Insurance includes discounts for homeowner, teen driver, mature driver, business and professional, multi-car, and alternative fuel.
- GEICO may include discounts for seat belt use, good student, anti-lock brakes, multi-policy, military active duty, membership and employees, and federal employee.
- Esurance offers discounts including DriveSense, paid-in-full, safety device, anti-lock brakes, homeowner, and anti-theft.
- SAFECO may have discounts that include accident prevention training, multi-car, teen safe driver, homeowner, and teen safety rewards.
- State Farm offers discounts for Drive Safe & Save, multiple policy, defensive driving training, accident-free, Steer Clear safe driver discount, and safe vehicle.
When getting free Panama City auto insurance quotes, it's a good idea to each company which discounts can lower your rates. Some credits may not be available in your area. If you would like to choose from a list of companies that offer many of these discounts in Panama City, click here.
Most larger insurance companies such as Progressive, GEICO, Allstate and State Farm give insurance quotes on their websites. Comparing insurance rates online is fairly simple as all you need to do is type in your coverage information as requested by the quote form. After you submit the form their rating system automatically orders your driving record and credit report and provides a quote based on these factors.
Getting online rate quotes streamlines rate comparisons, and it's very important to do this in order to find a better rate.
To quickly compare pricing, take a look at the companies shown below. If you have a policy now, it's recommended you copy your coverages identical to your current policy. This makes sure you will have a rate comparison using the same coverage and limits.
The auto insurance companies shown below are our best choices to provide price quotes in Florida. If you wish to find cheap auto insurance in Florida, we recommend you visit several of them to get a more complete price comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Silverado LS Crew Cab 4WD||$1,810||$905||$151|
|Dodge Grand Caravan Hero||$1,080||$540||$90|
|Dodge Ram Quad Cab SLT 4WD||$1,516||$758||$126|
|Ford Escape Limited 2WD||$1,006||$503||$84|
|Ford F-150 STX Regular Cab 4WD||$1,104||$552||$92|
|Ford Focus SE 4-Dr Sedan||$1,222||$611||$102|
|Ford Fusion Hybrid 4-Dr Sedan||$1,224||$612||$102|
|Honda Accord LX-P 4-Dr Sedan||$1,062||$531||$89|
|Honda CR-V EX-L 2WD||$954||$477||$80|
|Honda Civic SI 4-Dr Sedan||$1,394||$697||$116|
|Hyundai Elantra GLS Touring Station Wagon||$1,062||$531||$89|
|Hyundai Sonata GLS 4-Dr Sedan||$1,756||$878||$146|
|Jeep Grand Cherokee Laredo 2WD||$1,446||$723||$121|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,536||$768||$128|
|Toyota Camry LE||$1,478||$739||$123|
|Toyota Corolla XLE||$1,314||$657||$110|
|Get Your Own Custom Quote Go|
Data rating is based on single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Premium amounts do not factor in specific location which can change prices significantly.
Illustration showing the impact of accidents and violations
The information below shows how speeding tickets and accidents can drive up Nissan Sentra yearly insurance costs for different categories of driver ages. The rate quotes are based on a single male driver, full coverage, $250 deductibles, and no policy discounts are applied.
Nissan Sentra rates are for example purposes only. To get rates for your specific vehicle, click here.
Comparison of car insurance rates by gender
The chart below illustrates the comparison of insurance premiums for male and female drivers in Panama City. The rate quotes are based on no claims or driving violations, comp and collision included, $500 deductibles, marital status is single, and no other discounts are factored in on a Chevrolet Malibu LS.
Chevrolet Malibu rates are for example purposes only. To get rate quotes for your specific vehicle, click here.
How your Panama City prices are determined
Many things are taken into consideration when pricing auto insurance. Most are fairly basic such as your driving history, but others are more obscure such as your credit history and annual miles driven.
- Avoid traffic tickets - How you drive influences premium rates substantially. Even one chargable violation could increase your next policy renewal forty percent or more. Attentive drivers receive lower rates compared to bad drivers. Drivers with license-revoking citations such as DUI, reckless driving or excessive speeding may find that they have to to file a SR-22 with their state motor vehicle department in order to keep their license.
- Prevent your car from being stolen - Purchasing a vehicle with anti-theft technology or alarm system can save you a little every year. Advanced theft deterrents like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems all help prevent your car from being stolen.
- Impacts performance impacts premiums - The performance level of the car or truck you are insuring makes a significant difference in your auto insurance rates. The lowest performance passenger cars usually are quite affordable to insure, but your final cost has many other factors.
- Pay more if you have a long commute - Residing in less populated areas can be a good thing if you are looking for the lowest rates. People who live in big cities regularly have traffic congestion and longer commutes to work. Fewer drivers and short commutes means less chance of accidents and lower theft and vandalism rates.
You may need specialized car insurance coverage
When it comes to buying insurance from an agent or online, there really is not a perfect coverage plan. Coverage needs to be tailored to your specific needs.
For example, these questions could help you determine whether you will benefit from professional help.
- When should my teen driver be added to my policy?
- Does my vehicle qualify for pleasure use?
- Am I covered when driving a rental car?
- At what point should I drop full coverage?
- Am I covered if I have no license?
- Do I need replacement cost coverage?
- Can good grades get a discount?
- Do I have coverage for damage caused while driving under the influence?
If you can't answer these questions, you may need to chat with an insurance agent. To find lower rates from a local agent, fill out this quick form.
Compare rate quotes but still have a local Panama City insurance agent
A small number of people would prefer to buy from a licensed agent and often times that is recommended One of the benefits of getting online price quotes is that drivers can save money and get the lowest rates but also keep your business local. And buying from neighborhood insurance agencies is especially important in Panama City.
To help locate an agent, after submitting this quick form, your coverage information is sent to local insurance agents in Panama City who will give competitive quotes for your coverage. You won't need to leave your house because prices are sent straight to your inbox. You can find lower rates AND a local agent. If you need to get a price quote from a particular provider, you would need to navigate to their website and give them your coverage information.
If you want to use a reputable insurance agent or broker, it helps to know the two different types of agencies that you can choose from. Insurance agencies in Panama City can be classified as either exclusive or independent.
Independent Car Insurance Agencies
Independent agencies are not restricted to one company and that allows them to write policies with many different companies and help determine which has the cheapest rates. If your agent finds better pricing, they can switch companies in-house without you having to go to a different agency.
When comparison shopping, we highly recommend that you get rate quotes from several independent insurance agents to get the best comparison. Most can insure with smaller mutual companies which may have better rates.
Exclusive agencies can usually just insure with one company like AAA, Allstate, and State Farm. Exclusive agents are unable to compare other company's rates so they really need to provide good service. Exclusive agents are trained well on sales techniques which can be an advantage. Some people will only buy from exclusive agents primarily because of the brand legacy rather than low rates.
Choosing the best car insurance agent should depend on more than just a cheap price. Here are some questions you might want to ask.
- What companies can they write with?
- Are they primarily personal or commercial lines agents in Panama City?
- Does the agency provide any after hours assistance?
- Is the agent CPCU or CIC certified?
- Does the agency have a current Errors and Omissions policy?
- Does the company have a local claim office in Panama City?
Car insurance is an important decision
Despite the high cost, car insurance is required by state law in Florida and it also provides benefits you may not be aware of.
First, almost all states have minimum liability requirements which means you are required to buy a specific minimum amount of liability insurance coverage in order to drive the car legally. 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.
Second, if you have a loan on your vehicle, almost every bank will require you to buy insurance to guarantee their interest in the vehicle. If coverage lapses or is cancelled, the lender may insure your vehicle at a significantly higher premium and make you pay much more than you were paying before.
Third, insurance safeguards both your vehicle and your personal assets. Insurance will also pay for many types of medical costs for both you and anyone you injure as the result of an accident. One of the most valuable coverages, liability insurance, will also pay to defend you if you cause an accident and are sued. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay to restore your vehicle to like-new condition.
The benefits of having car insurance are definitely more than the cost, particularly if you ever have a claim. In a recent study of 1,000 drivers, the average customer overpays as much as $820 a year so compare rate quotes once a year at a minimum to ensure rates are competitive.
One last note
People switch companies for any number of reasons including denial of a claim, high prices, policy non-renewal or unfair underwriting practices. No matter why you want to switch, choosing a new insurance company can be pretty painless.
We just covered a lot of tips how to get a better price on auto insurance in Panama City. The most important thing to understand is the more times you quote, the better likelihood of getting low cost Panama City auto insurance quotes. You may even find the lowest priced auto insurance comes from some of the smallest insurance companies.
There are still a few companies who don't offer the ability to get a quote online and usually these small, regional companies provide coverage only through independent insurance agents. Affordable auto insurance in Panama City is possible from both online companies and from local agencies, and you should compare price quotes from both in order to have the best price selection to choose from.
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