If you're a University driver searching for an affordable car insurance policy, there are plenty of options to consider. Continue reading to discover the most effective ways to save money on premiums and which companies offer the lowest prices.
Florida drivers must purchase Personal Injury Protection (PIP) and property damage liability coverage as part of their policy. While these minimum requirements meet the state's motor vehicle standards, you may want to consider increasing your limits if possible.
Liability car insurance is mandatory in all states and covers damages caused to another person or their property. It also pays medical expenses and lost wages for passengers injured due to a negligent driver.
Liability coverage typically consists of bodily injury (BI) and property damage (PD) coverage. The BI coverage pays for medical costs for those injured in your car, while the PD coverage pays for any property damage done to another car or its owners.
Florida requires a minimum amount of Business Indemnity and Property Damage coverage of $10,000/$20,000, though this can be increased up to $100,000/$300,000 or more. Furthermore, the Florida Financial Responsibility Law requires BI coverage after an accident that causes injuries or property damage.
University drivers in Florida can find a range of car insurance policies for their vehicles, but it's essential to shop around to get the best policy at an affordable rate. Many factors, such as your age, location and driving history, will influence how much you pay for premium coverage.
Young drivers in Florida typically face some of the highest auto insurance rates in the US, so it's essential to look for discounts. Some providers provide incentives for safe drivers or good student programs which could lower your premium significantly.
When searching for University Florida car insurance, two other factors to consider are the type of vehicle you drive and your credit score. These can significantly influence the cost of coverage. Furthermore, Florida has some of the highest uninsured motorist rates in America, so it's essential that you're protected against this risk as well.
Uninsured/Underinsured Motorist Coverage
Uninsured/underinsured motorist coverage is an essential component of a comprehensive insurance policy, especially in Florida where there is one of the highest rates of uninsured drivers nationwide. Unfortunately, there are many drivers out there without protection on the road. Uninsured/underinsured motorist coverage provides peace of mind to those driving without coverage in Florida.
After an accident, victims often face high medical bills that their own insurance won't cover. Uninsured/Underinsured Motorist (UM/UIM) coverage can help cover those costs as well as lost wages and pain and suffering suffered in the aftermath.
Uninsured/Milled Coverage (UM) coverage extends protection to passengers in your car at the time of a crash, provided they are present. Typically, limits for this type of policy are $255,000 per person and $50,000 per accident.
Underinsured motorist coverage (UMC) is a type of protection designed to cover injuries sustained from an at-fault driver who does not have enough liability insurance. When you can afford it, UIM coverage is recommended as it can help you recover damages from the responsible party.
Uninsured/Malpractice coverage (UM coverage) is typically available as an add-on to your standard car insurance policy, usually at a small additional cost. While it's not always cheap, having this protection ensures you're covered in case of an accident with an uninsured driver - something Florida drivers should never do - which happens quite frequently on our roads. If unsure whether UM coverage is necessary for you, speak with an experienced University Florida car insurance attorney who can explain its advantages and help determine whether it makes financial sense for you.
One of the best ways to protect yourself in case of a car accident is having collision coverage. Collision insurance pays for repairs or replacement of your vehicle, less any deductible you may have paid out.
When selecting collision coverage, the amount you pay in premiums depends on the deductible you select and your financial situation. A lower deductible could help reduce monthly costs but leave more out-of-pocket money if there is a claim made.
Most states require you to carry some form of auto insurance. However, that doesn't necessarily mean you need all the coverages available. Typically, stick with the minimums required by your state and then consider adding higher limits or comprehensive coverage for extra protection.
If your vehicle is a high-end model or you drive frequently in areas prone to accidents, collision coverage may be worth the additional expense. But first it's essential that you assess your finances and decide if you can afford replacing or repairing your car in case the worst occurs.
Another way to ensure you have adequate financial coverage in the event of a collision is to purchase uninsured motorist (UM) coverage. This Florida-required coverage protects you in case the other driver doesn't have enough insurance to pay for your losses.
Uninsured/Muttered Driver Insurance (UM) helps cover medical expenses if you're injured in a crash with an uninsured driver. Plus, it's possible to purchase UM coverage for passengers in case of accidents as well.
Comprehensive coverage is an optional form of car insurance that protects your vehicle in case it gets damaged in an accident. While not mandatory in Florida, having this type of coverage could prove beneficial if you're worried about replacing your vehicle after one incident.
University Florida drivers who choose to add comprehensive coverage to their policy can do so by calling your insurer and speaking with an agent; alternatively, you can pay for it upfront and have it added to your monthly payment plan.
Comprehensive coverage is a wise idea for those who drive frequently or own an older vehicle. This type of policy will protect against damages not caused by collisions, such as floods, earthquakes, fires, and theft.
Collision coverage is a form of comprehensive insurance that pays to repair or replace your car after an accident. It helps you avoid high repair costs after an incident and is usually selected with a $500 deductible.
Add comprehensive and collision coverage to your policy by speaking with an insurance agent. They can guide you through the available options and let you know how much the additional payments will impact your monthly bill.
Teen drivers in Florida can save a lot of money by adding their parents' auto insurance to their policies. Many insurers offer discounts for adding younger drivers to family policies, and Progressive even offers a special teen discount that could lower rates by as much as 10%.
State Farm offers a competitively priced full-coverage policy, especially for young drivers. A Florida family with two adults and a teen child was quoted $154 per month for basic coverage and $540 for standard protection. In addition to offering comprehensive and collision coverage, State Farm also provides rental reimbursement coverage - this could cover the cost of renting a vehicle if your own gets in an accident.
Car insurance is one of the biggest expenses students must deal with, so it's wise to look into discounts that may help you save. Many car insurance companies provide various discounts including those for good drivers and student drivers alike.
Your car insurer, age and location all play a role in what kind of discount you may qualify for. For instance, 16-24 year old teen drivers with high grades in school can receive an excellent student discount.
If you're part of a large fraternity or sorority, chances are good that you'll qualify for an affiliation discount with your auto insurer. Some major insurers also give discounts when joining telematics programs that monitor driving behavior like speeding or hard braking.
Alumni of UF may qualify for a special GEICO discount of up to 8 percent on your auto insurance policy in most states.
A good credit score can also grant you access to discounts, particularly if you're a student. Use your credit history and payment history when comparing quotes in order to discover the most competitive rates for your specific situation.
Another way to receive a discount is by bundling your policies. In general, having both your car and homeowners or renters insurance with the same company typically results in receiving a multi-policy discount.
To determine if you qualify for a discount, speak with your insurer and inquire about it. They can answer any queries about your eligibility for the discount and explain its workings in more detail.
As you can see, Florida students have access to a range of discounts. It is recommended that you compare quotes from multiple providers before selecting one policy.