TUESDAY, JANUARY 23, 2024
As residents in Florida have observed, car insurance premiums are on an upward trend. At Gene Smith Insurance Agency, we understand the concerns surrounding rising insurance costs and are here to shed light on the reasons behind these increases.
Auto Insurance Premiums
It can be frustrating to see auto insurance premiums when you haven’t made a claim and have a driving record free from moving violations and convictions. However, auto insurance rates are on the rise for Florida drivers for numerous reasons unrelated to driving history.
The state’s popularity as a tourist destination leads to busier roadways and a higher statistical probability of accidents. Factors such as the high percentage of uninsured drivers, increasing labor and parts costs, and more expensive healthcare costs also contribute to larger auto insurance claims. Insurers typically pass part of those costs on to drivers to help offset the resulting increases in paid claims.
How to Reduce Auto Insurance Costs
Shopping for better prices is one of the most effective ways to reduce your auto insurance rates. Our agents can help you compare auto insurance quotes from numerous Florida insurance companies.
Florida residents can take several practical steps to lower their auto insurance premiums, including the following:
- Increase deductibles—Choose a deductible amount that is affordable for you in case of a claim.
- Maintain a good credit score—In Florida, insurers can legally use your credit score to determine premiums.
- Drive safely—Moving violations, auto insurance claims and DUI convictions typically result in higher insurance costs, as these events increase the likelihood you may make a claim in the future.
- Review and update coverage—Ensure your policy covers only what you need. Over-insuring your vehicle can result in unnecessarily high premiums.
- Consider usage-based insurance (UBI)—Florida drivers may be eligible to participate in UBI, which collects real-time information about driving habits. UBI can help reduce auto insurance rates for safe drivers.
- Consider taking a safe driving course—Some insurers offer auto insurance discounts upon completion of safe driving classes. Your agent can provide more information.
Contact Us
Contact Gene Smith Insurance Agency in Dade City, Florida, today. Our team will evaluate your current auto insurance coverage, identify available discounts and help you get appropriate coverage at a favorable rate.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.
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NOTICE: This blog and website are made available by the publisher for educational and informational purposes only.
It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
in your state. By using this blog site you understand that there is no broker client relationship between
you and the blog and website publisher.
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