For drivers in Coral Springs, one of the more important components that aid in calculating the cost of insurance is where your car is garaged. Regions with more people or even just more weather-related claims tend to have higher rates, whereas less populated areas have the benefit of cheaper car insurance.
The following table sorts the priciest cities in Florida to buy auto insurance in. Coral Springs ranks #12 with an annual premium of $2,499 for the average policy, which is approximately $208 monthly.
|6||West Palm Beach||$2,705|
|19||Port St. Lucie||$1,975|
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Rate information is approximated as the specific area where the vehicle is garaged can revise premiums greatly.
Now that we understand where Coral Springs ranks for price, comparing rates for affordable insurance is not the easiest thing to do, and figuring out which company quotes the most affordable car insurance rates in Coral Springs takes even more perseverance. Each auto insurance company has a different formula for determining rates in each state, so let's take a look at the car insurance companies with the most affordable rates in Florida.
Best Auto Insurance Prices in Coral Springs
|Rank||Company||Cost Per Year|
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USAA may offer some of the cheapest car insurance rates in Coral Springs at around $957 annually. This is $1,491 less than the average premium paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Mercury would also be considered some of the cheapest Coral Springs, FL car insurance companies.
In the above rates, if you are a policyholder with Mercury and switched to Electric, you might achieve savings of roughly $202. Customers with Travelers may save as much as $233 a year, and Allied policyholders might see rate reductions of $292 a year.
To see how much you can save, click here to start your custom quote or quote rates from the companies below.
Remember that these premiums are averages across all drivers and vehicles in Florida and do not take into consideration an exact vehicle garaging location in Coral Springs. So the insurer that is best for you may not even be in the top 21 companies shown above. That points out the importance of why you need to get car insurance quotes using your own driver information and specific vehicle type.
Can you find cheaper Coral Springs car insurance?
Coral Springs car insurance rates are impacted by many factors that may substantially change the price you have to pay for coverage. Simply improving your credit, moving across town, or having a fender bender can trigger changes in premium that can make some companies more affordable than others.
In addition, insurers file new rates every year or even multiple times each year to adjust for heavy claims or excess profits. Heavier than normal losses may result in increased policy costs, while lower claim levels can produce more affordable Coral Springs car insurance rates.
For instance, the bar chart below analyzes the cheapest car insurance in Coral Springs, FL for a 35-year-old female driver with no accidents, a clean driving record, and a high credit rating. When comparing rates based on her personal profile, USAA may offer the most affordable car insurance rates in Coral Springs at $1,497 per year. This is $951 less than the average rate paid by Florida drivers of $2,448. Amica, Electric, Progressive, and Travelers are also included in the top five cheapest Coral Springs, FL auto insurance companies.
In this next rate comparison, we will give the driver from above a chargeable accident, less-than-perfect credit, and a few blemishes on her driving record. Due to the fact that each insurance company uses a different method for setting prices, comparing prices may now show a different list of the cheapest car insurance companies in Coral Springs as shown below.
USAA now has the best insurance rate in Coral Springs, FL with Allied, Esurance, Auto-Owners, and State Farm completing the list. This example shows why Coral Springs drivers need to compare many different companies to get the most budget-friendly auto insurance quotes in Coral Springs.
Auto insurance prices are impacted by many risk factors and can change without notice, so the most economical option the last time you checked may now be an over-priced policy.
The car, truck, or SUV that is being insured is a large consideration that determines if you can find the best insurance in Coral Springs. Vehicles with high performance features, a lack of advanced safety features, or a history of substantial liability claims will cost quite a bit more to insure than more modest models. The table below presents coverage premiums for some of the cheaper automobiles to insure.
|Make and Model||Estimated Cost for Full Coverage|
|Honda CR-V LX 4WD||$2,108|
|Ford Edge SE AWD||$2,230|
|Jeep Grand Cherokee Laredo 4WD||$2,274|
|GMC Sierra SLE Regular Cab 2WD||$2,281|
|Jeep Wrangler Unlimited Sport 2WD 4-Dr||$2,305|
|Ford Escape Limited 4WD||$2,349|
|Hyundai Elantra SE Touring Station Wagon||$2,355|
|Honda Accord EX-L 4-Dr Sedan||$2,349|
|Ford Explorer XLT 4WD||$2,358|
|Toyota Camry SE||$2,399|
|Honda Odyssey EX-L||$2,404|
|Nissan Rogue S 2WD||$2,443|
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Above prices assume single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, multi-vehicle, and claim-free. Rate quotes do not factor in vehicle location which can modify auto insurance rates significantly.
Based upon these rates, we can conclude that vehicles like the Honda CR-V, Toyota Prius, and Ford Edge are going to be a few of the most economical vehicles to insure for drivers in Coral Springs.
Get discounts on Coral Springs auto insurance rates
Insurance providers that offer cheap quotes in Coral Springs could also offer discounts that can reduce rates by 40% or more if you qualify for them. A list of car insurance companies and some of the discounts are detailed below.
- GEICO includes discounts for emergency military deployment, multi-vehicle, good student, five-year accident-free, anti-theft, and multi-policy.
- MetLife has discounts for claim-free, multi-policy, accident-free, good driver, good student, defensive driver
- State Farm policyholders can earn discounts including defensive driving training, good driver, Steer Clear safe driver discount, driver's education, multiple policy, and Drive Safe & Save.
- Progressive has savings for good student, online quote discount, homeowner, multi-vehicle, multi-policy, and continuous coverage.
- Mercury Insurance offers premium reductions for location of vehicle, low natural disaster claims, good student, multi-car, multi-policy, and type of vehicle.
- 21st Century offers discounts including air bags, teen driver, homeowners, automatic seat belts, student driver, and defensive driver.
- Allstate may include discounts for anti-lock brakes, early signing, premier discount, passive restraint, auto/life discount, and anti-theft.
The example below compares car insurance costs with and without discounts applied to the premium. The data is based on a female driver, no violations or accidents, Florida state minimum liability limits, comp and collision included, and $100 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with defensive driving course, vehicle safety, homeowner, multiple vehicle, accident-free, and anti-theft discounts applied. When drivers qualify for the discounts, theaverage yearly reduction on car insurance in Coral Springs is 28% or $844.
The illustration below demonstrates how deductibles can affect premium costs when searching for cheap insurance in Coral Springs. Data assumes a married female driver, full physical damage coverage, and no discounts are factored in.
As shown above, a 50-year-old driver could lower rates by $384 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $578 by using a $1,000 deductible. Young drivers, like the 20-year-old, could roll back prices up to $952 every year by selecting a higher deductible.
When using a larger deductible, it is important to have enough funds in savings to enable you to cover the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
Rate comparison of full coverage and liability-only
Saving money when shopping for car insurance is the goal of most people, and one of the easiest ways to buy cheaper insurance in Coral Springs is to buy only liability coverage. The diagram below shows the comparison of insurance rates with and without physical damage coverage. The costs are based on no claims or driving violations, $100 deductibles, drivers are not married, and no discounts are factored in.
Averaged for all age groups, comprehensive and collision coverage on your policy costs an additional $3,196 per year more than just buying liability only. That is a large expense and it proposes the question if paying for full coverage is a waste of money. There is no exact formula for dropping full coverage on your policy, but there is a general convention. If the annual cost of coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.
For example, let's assume your vehicle's claim settlement value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, you would only receive $2,000 after you pay the deductible. If you are paying over $200 annually for physical damage coverage, then you might want to consider buying only liability coverage.
There are some circumstances where dropping physical damage coverage is not a good plan. If you haven't paid off your loan, you are required to maintain full coverage as part of the loan conditions. Also, if you don't have enough money to buy a different vehicle in case of an accident, you should maintain full coverage.
How to find the cheapest car insurance in Coral Springs
Lowering your rates is not difficult, and here are a few penny-pinching suggestions that can help Coral Springs drivers get more affordable coverage.
- Having too many claims will increase rates substantially
- Maintain a clean driving record
- Do not pay for full coverage on older vehicles
- Save money by bundling your home and auto policies
- Choose a safer vehicle and pay lower rates
- Remain accident-free and save
- Compare rate quotes frequently
The last item on the list is incredibly vital, as was stressed in this piece. Prices can change considerably in a year, so drivers shouldn't hesitate to buy a different policy if a more affordable rate is found.
Staying with the same company for years is fine, but it's not recommended if that inflexibility results in costing you a small fortune year after year. If you have a few minutes, shop around and find cheaper car insurance in Coral Springs.