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Auto Insurance Rates in Southwest Florida Are Rising, Here’s What You Can Do

By on February 16, 2022 0

Florida Insider reported that Florida residents now pay the highest insurance rates in the country. The article reports, “The Sunshine State’s average premium in 2021 was just over $2,400, which was nearly 60% higher than the national average.” Auto insurance in the state of Florida is so high due to two key factors. The first is the number of drivers on the road at any given time. The second is the accident rate. These increases have been significant, with some people experiencing a full 100% increase in their monthly premium. This leads many people to think about reducing their coverage to offset the costs. We do not recommend this strategy.

Why You Need Good Auto Insurance Coverage

Our team at Justice Pays has resolved over 10,000 accidental injury cases in Southwest Florida. During this time, we have learned how important a good insurance policy is to protect your future. It’s really important because the state of Florida also ranks number 6 in the country for the least insured drivers. In fact, over 20% of drivers in Florida have no insurance under any law. Therefore, in many accident cases, drivers only have their personal insurance to cover the damage. Unfortunately, in these cases, the accident victim often has to foot the bill. Even in cases that work for the victim, they are also usually more difficult legally and take longer to achieve a full and fair settlement. It is truly a tragic thing, but a good insurance policy can protect you against this situation.

Smart ways to reduce your policy costs and keep your coverage high

To help you maintain a good insurance policy, but also reduce your premium costs with rising rates, here are some ways to reduce those costs:

● Take advantage of bundled discounts: When you bundle your home, auto and life insurance with one provider, your premiums are lower. This is due to two main reasons. First, you’ll get a loyalty discount for bringing all your stuff to them. The second is that they can spread your risk across all three policies. Less risk for them means lower premiums for you.

● Be a safe driver: We can’t always avoid accidents, but we can avoid breaking the law. The cleaner your traffic history, the less risk you pose to insurance companies. So you will save on premiums. You can also compensate for a poor driving record by taking a defensive driving course.

● Invest in a safe vehicle: Car manufacturers are now offering truly technologically advanced safety features. Features like stability control, blind-spot sensors, and pre-crash automation can all reduce your risk and thereby lower your premiums. The same applies to the installation of anti-theft devices. Some insurers also offer discounts for hybrid, electric and alternative fuel vehicles.

● Improve your credit rating: When actuaries calculate your level of risk, one of the things they look at is your credit rating. If you have a low credit rating, they consider you a higher risk. Increasing these scores can result in cost savings.

● Look for other discounts: Insurance companies offer all kinds of discounts. Veterans, students, and more can get discounts. The best way to see what discounts you qualify for is to ask your insurance agent what discount programs they offer.

● Review your coverage: Take the time to go through your coverage line by line. You may find that you may not need some of the coverages you have, such as roadside assistance or rental car insurance.

● Shop around: Another way to lower your insurance premiums is to shop around with different providers. You don’t necessarily want to go with the cheapest provider. However, you may find that you can save more with a reputable insurance company.

● Increase your deductible: Reducing your deductible is always the most favorable choice because it means you will have to come up with more money if something happens. However, it is significantly better than reducing your coverage in the event of an accident.

As you can see, there are several ways to save money on auto insurance without reducing your coverage.

The team at Justice pays, Goldman, Babbani, Fernandez and Walsh is always there to help you, regardless of your insurance coverage. Although we always advise you to have the best policy you can afford, we also understand that this is not always possible. Either way, if you’re involved in a car accident, we’re here for you.