Florida is one of the top vacation and retirement destinations in the country, thanks to its mild climate and numerous attractions. If you live in Florida, you have the luck of experiencing this year round. But Florida insurance rates are some of the highest in the nation in both home and auto, which means Floridians are paying a good chunk of their paychecks each month on insurance.
But even if you live in a state with high rates, you can still find affordable insurance. There are many discounts and tips that can help you save hundreds each year on your Florida insurance.
Florida Auto Insurance
Florida is a no-fault state when it comes to auto insurance, meaning your policy will cover you regardless of whether or not you caused the accident. It also limits the amount the injured party can seek from the at-fault driver in litigation. Florida law requires that drivers carry a minimum of $10,000 in Personal Injury Protection (which covers medical expenses for those involved in the accident) and $10,000 in Property Damage Liability (which covers any property you damage).
These amounts are bare minimums and do not offer a lot of coverage. Many experts recommend you also include comprehensive coverage as well and increase the limits of PDL and PIP. This will also raise your premium amounts, but these money-saving tips can help you find lower Florida insurance rates:
- Shop around. Rates can differ dramatically from company to company so shopping around and comparing rates is essential. This is easy when you use localinsurance.com. This site can provide you with Florida insurance rates quickly and easily, so you know which company offers the best deal.
- Look for discounts. There are many discounts available, from good student discounts for high school and college students to good driver discounts if you haven't had an accident to multiple policy discounts if you insure your home through the same company.
- Drive smart and safe. Tickets and accidents are the quickest ways to drive your rates through the roof. For example, just one ticket can increase your Florida insurance rates by over $30 a month, and it stays on your record for up to 3 years.
Florida Home Insurance
One of the main reasons people flock to Florida—coastal living—is one of the reasons Florida is one of the most expensive states to insure a home. Hurricanes and the extensive damage they cause make rates high, but there are a few things you need to know to make sure your home and belongings are sufficiently covered.
- Hurricane insurance must be purchased separately. Your typical homeowners insurance policy excludes damage caused by hurricanes. That means that even if your policy covers wind damage, it won't cover wind damage that results from a hurricane. Hurricane insurance mainly covers wind damage, however, not damage caused by flooding.
- Flood insurance must be purchased separately. Florida residents should also have flood insurance, which is regulated by FEMA and not included in homeowners insurance. As a result, it's crucial you include flood coverage when getting quotes of Florida insurance rates.
Getting the Best Deal
Localinsurance.com is an excellent source for helping you find the lowest rates on all types of Florida insurance. It's fast, easy, and free, allowing you to find the right coverage for your home and vehicle while giving you the confidence of knowing you are paying the lowest price possible.
