Do you get confused by the crazy number of insurance providers that you can choose from? Lot's of other drivers are too. There are so many choices that it can be more work than you anticipated to locate the lowest insurance rates. Everyone knows that Lakeland has lots to offer, but trying to pay high insurance rates can make it very difficult to meet other financial obligations.
Astonishing but true, most insurance buyers have bought insurance from the same company for more than four years, and practically 40% of insurance customers have never compared rates from other carriers. Florida consumers can cut their rates by nearly $1,100 a year by just shopping around, but they don't want to take the time to find affordable rates by getting comparison quotes.
It's important to get comparison quotes once or twice a year because insurance prices change quite often. Despite the fact that you may have had the lowest rate on insurance two years ago there may be better deals available now. Forget all the misinformation about insurance because you're about to learn how to use online quotes to reduce your cost while increasing coverage.
There are several ways to get quotes from local Lakeland insurance companies. The quickest method to find competitive insurance rates involves getting comparison quotes online.
When comparison shopping, comparing more rates from different companies gives you a better chance of getting the best rates. Some smaller insurers do not give quotes over the internet, so you should also compare price quotes from them, too.
The companies shown below provide comparison quotes in Florida. In order to find cheap car insurance in Florida, it's highly recommended you visit as many as you can in order to get a fair rate comparison.
|Make, Model, and Trim Level||Annual Policy Premium||6-month Policy Premium||Monthly Premium|
|Chevrolet Malibu Hybrid||$1,446||$723||$121|
|Chevrolet Silverado LTZ Crew Cab 4WD||$1,512||$756||$126|
|Dodge Ram Crew Cab TRX 4WD||$1,446||$723||$121|
|Ford Edge SE AWD||$1,268||$634||$106|
|Ford Escape Limited 4WD||$1,354||$677||$113|
|Ford F-150 Lariat Super Cab 4WD||$1,436||$718||$120|
|Ford Focus SES 2-Dr Coupe||$1,542||$771||$129|
|Honda Accord EX 4-Dr Sedan||$934||$467||$78|
|Honda CR-V EX 2WD||$1,068||$534||$89|
|Honda Civic LX 2-Dr Coupe||$1,364||$682||$114|
|Jeep Wrangler Unlimited Rubicon 4WD 4-Dr||$1,726||$863||$144|
|Mazda 3 I SV 4-Dr Sedan||$1,148||$574||$96|
|Nissan Altima 2.5 S 4-Dr Sedan||$1,340||$670||$112|
|Nissan Rogue S AWD||$1,756||$878||$146|
|Toyota Camry XLE||$1,186||$593||$99|
|Toyota Corolla LE||$1,750||$875||$146|
|Volkswagen Jetta SE 2.5 Station Wagon||$1,484||$742||$124|
|Get Your Own Custom Quote Go|
Data variables include single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Rate quotes do not factor in specific location information which can influence coverage prices significantly.
The chart below highlights how deductible choice and can affect GMC Acadia insurance prices for different age groups. The data is based on a single male driver, full coverage, and no discounts are applied to the premium.
GMC Acadia rates are for example purposes only. To get rates for your specific vehicle, click here.
Price comparison of only insuring for liability
The chart below shows the comparison of Nissan Sentra auto insurance costs with liability coverage only compared to full coverage. The data is based on no accidents, no driving violations, $100 deductibles, single female driver, and no discounts are applied to the premium.
Nissan Sentra rates are for example purposes only. To get rates for your specific vehicle, click here.
When to stop buying full coverage
There is no set rule of when to stop paying for full coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is 10% or more of any settlement you would receive from your insurance company, then you might want to consider buying only liability coverage.
For example, let's assume your Nissan Sentra replacement value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, you would only receive $4,000 after paying your policy deductible. If it's costing in excess of $400 a year to have full coverage, then you might want to consider buying only liability coverage.
There are a few situations where eliminating full coverage is not advised. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.
Choosing vehicle insurance is an important decision
Despite the fact that auto insurance is not cheap in Lakeland, auto insurance is a good idea for several reasons.
- Most states have mandatory liability insurance requirements which means you are required to buy a specific minimum amount of liability protection if you drive a vehicle. 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 you bought your vehicle with a loan, it's most likely the lender will have a requirement that you buy insurance to guarantee payment of the loan. If coverage lapses or is cancelled, the bank will be required to insure your vehicle at a much higher premium rate and force you to pay for the much more expensive policy.
- Insurance safeguards both your vehicle and your personal assets. Insurance will also pay for medical expenses for you, your passengers, and anyone else injured in an accident. One of the most valuable coverages, liability insurance, also covers legal expenses if you are sued as the result of your driving. If your vehicle gets damaged, collision and comprehensive (also known as other-than-collision) coverage will pay to restore your vehicle to like-new condition.
The benefits of insuring your car are without a doubt worth the cost, particularly when you have a large claim. On average, a vehicle owner in Lakeland is currently overpaying as much as $865 each year so you should quote your policy with other companies every year to be sure current rates are still competitive.
Why informed consumers pay lower rates in Lakeland
Lots of factors are considered when you get your auto insurance bill. Some are pretty understandable like your driving record, but others are less obvious like where you live and annual miles driven.
Shown below are some of the items utilized by car insurance companies to help set rates.
Does your occupation raise your prices? - Occupations like military personnel, air traffic controllers, and financial analysts are shown to have higher rates than the rest of us attributed to stressful work requirements and incredibly demanding work hours. Conversely, professions such as farmers, engineers and the unemployed generally pay rates lower than average.
Your age impacts your prices - Young drivers in Florida have been known to be less responsible in a vehicle and because of this, their auto insurance rates are much higher. Parents adding a beginning driver to your auto insurance policy will cause a huge premium hike. Older, more experienced drivers are more cautious drivers, cause fewer claims and accidents, and are safer drivers.
Companies want multiple policies - Lots of insurance companies apply better rates to people that purchase more than one policy such as combining an auto and homeowners policy. Even if you qualify for this discount already, you may still want to comparison shop to guarantee you are still saving the most. You may still save even more by buying insurance from more than one company.
High credit scores save money - Credit score factor in calculating your auto insurance rates. Drivers who have high credit ratings tend to be more responsible than those with bad credit. If your credit history can be improved, you could potentially save money when insuring your vehicle by spending a little time repairing your credit.
Where do you drive? - The more miles you rack up on your car annually the higher your rate. The majority of insurers charge to insure your cars based on how the vehicle is used. Autos that sit idle most of the time qualify for better rates compared to those used for work or business. Verify your vehicle rating reflects how each vehicle is driven, because it can save money.
Gender as a rate factor - Over time, data shows that women are safer drivers than men. This data doesn't prove that males are worse at driving than females. Males and females are responsible for at-fault accidents in similar percentages, but the men cause more damage and cost insurance companies more money. Not only that, but men also get more serious tickets like DWI (DUI) or reckless driving. Males from age 16 to 21 generally have the highest accident percentage and therefore have the most expensive auto insurance rates.
Take policy discounts and save on auto insurance
Some insurers don't always publicize all available discounts very clearly, so we break down some of the best known and also the more inconspicuous discounts that you can inquire about if you buy Lakeland auto insurance online.
- Anti-lock Brake Discount - Cars with anti-lock braking systems can avoid accidents and qualify for as much as a 10% discount.
- Employee of Federal Government - Federal government employees could qualify for a slight premium decrease with certain companies.
- Low Mileage Discounts - Driving less could qualify for lower auto insurance rates on the low mileage vehicles.
- Discounts for Good Drivers - Drivers without accidents may save up to 50% more compared to accident prone drivers.
- No Claim Discounts - Drivers with accident-free driving histories pay less as opposed to bad drivers.
Just know that many deductions do not apply to the entire policy premium. A few only apply to the price of certain insurance coverages like comp or med pay. Despite the appearance that all the discounts add up to a free policy, it just doesn't work that way.
For a list of companies with discount auto insurance rates in Lakeland, click here to view.
Car insurance agents near you
A small number of people just prefer to get professional advice from a licensed agent and that is just fine! An additional benefit of comparing rate quotes online is the fact that you can find the best rates and still choose a local agent. Putting coverage with neighborhood insurance agencies is important particularly in Lakeland.
To find an agent, once you fill out this form (opens in new window), the quote information is transmitted to agents in your area that give free quotes for your coverage. There is no need to find an agent on your own since rate quotes are delivered to you instantly. You'll get the best rates without the usual hassles of price shopping. If for some reason you want to quote rates from a particular provider, just go to their quote page and fill out their quote form.
When researching a local Lakeland insurance agent, it can be helpful to understand the different types of agents that you can select. Car insurance agencies may be either independent (non-exclusive) or exclusive.
Independent Car Insurance Agencies
Independent agents do not work for one specific company so they can quote policies amongst many companies and find you cheaper rates. If you want to switch companies, they simply move your policy to a different company which is easy for the insured.
When comparing car insurance rates, it's a good idea to include price quotes from at least one independent agent to get the best comparison. Most have the option of insuring with smaller regional carriers that can offer cheaper rates than bigger companies.
Exclusive Insurance Agents
Exclusive agencies have only one company to place business with like State Farm, Allstate and AAA. They are unable to give you multiple price quotes so you might not find the best rates. Exclusive agents are well schooled on their products and sales techniques and that enables them to sell even at higher rates. Consumers frequently buy from exclusive agents mostly because of high brand loyalty rather than having low rates.
Deciding on a insurance agent requires more thought than just a low price. A good agent in Lakeland will have answers to these questions.
- Are there any discounts for paying up front?
- Is the coverage adequate for your vehicle?
- Can you get a list of referrals?
- If you raise deductibles, how much can you save?
- Is assistance available after office hours?
- Do they offer accident forgiveness?
- Which members of your family are coverage by the policy?
- What company do they have the most business with?
How much can you save?
Throughout this article, we presented many ideas to compare insurance rates in Lakeland. It's most important to understand that the more price quotes you have, the higher your chance of finding cheaper Lakeland auto insurance quotes. Drivers may even discover the lowest rates are with the smaller companies.
Insureds leave their current company for a number of reasons such as poor customer service, not issuing a premium refund, an unsatisfactory settlement offer or even lack of trust in their agent. Regardless of your reason, finding the right insurance provider is pretty easy and you might even save some money in the process.
When getting Lakeland auto insurance quotes online, it's a bad idea to buy poor coverage just to save money. There have been many situations where someone dropped full coverage and learned later that the few dollars in savings costed them thousands. The proper strategy is to purchase a proper amount of coverage at the lowest possible cost.
More learning opportunities
- Protecting Teens from Drunk Driving (Insurance Information Institute)
- Who Has Affordable Florida Auto Insurance for Handicapped Drivers? (FAQ)
- Who Has Cheap Florida Auto Insurance Quotes for Used Cars? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Seniors in Florida? (FAQ)
- How Much are Florida Car Insurance Quotes for Drivers Requiring a SR22? (FAQ)
- Medical Payments Coverage (Liberty Mutual)
- Steps to Take After an Auto Accident (Insurance Information Institute)
- How Much Auto Coverage do I Need? (Insurance Information Institute)
- Auto Insurance Learning Center (State Farm)