How much is car insurance in Miami, FL?

Miami is one of the largest city complexes in Florida with an estimated population of 2,591,035 in 2012. The combination of good weather and easy access to a deep-water port has attracted people from all over the United States, Cuba, and South America.

The city is a hub of international banking, medical service, and the biotech industry. The Port of Miami has a massive presence with cruise ships and passenger lines thronging the shores.

The population of the city is widely varied. The dichotomy between the most prosperous residents and the poorest of immigrants is wide. For this reason, there are many individuals going without insurance.

Insurance does not represent food or housing so people assume it’s not necessary.

Be sure to always know your car insurance requirements and search for the best rates using the FREE tool above!

Getting a Driving License in Florida

If you are a citizen of the United States, you need to provide proof of birth and your Social Security Number. Valid documents must be produced. The Drug And Alcohol Awareness course must be taken to acquire a license.

If you come from another country, proof of birth and other papers indicating your legality in the United States are required as well as the Drug And Alcohol Awareness course completion.

Car Insurance in Miami

Florida is one of several states in the United States that have no-fault insurance provisions. An explanation of no-fault insurance is necessary:

• No-fault insurance systems were originally intended to release individuals from the usual liability for causing bodily injury in a car accident.
• Insurance in a no-fault system pays for bodily injury to the owner and passengers caused by a car accident, without regard to fault.
• No-fault insurance had the intent of lowering premium costs by avoiding litigation over the causes of accidents or loss of property. Furthermore, it was hoped that quick response to the needs of the injured would reduce pain and suffering.

In the 1970s, no-fault insurance was seen as an answer to high insurance rates. Many states passed no-fault laws, then either repealed them or modified them.

Because of the requirement for no-fault coverage, Florida car insurance is somewhat different in the limits for financial responsibility required by the state. Insurance is required for every vehicle registered in the state.

Statutory Limits of Liability Required by Florida

Here is a brief description of the limits of liability and explanation of coverage required by the state:

• Bodily Injury Liability This is your responsibility for the injury to others as a result of an automobile accident. Florida requires limits of $100,000 per person up to $300,000 per accident.
• Property Damage Liability Your responsibility for damage to property of others as a result of an automobile accident. Florida requires $50,000 per accident.
• Personal Injury Protection and Property Damage Liability (no-fault) $10,000.

None of this coverage applies to your own car, so you need to purchase property coverage.

Property Coverage for your Own Vehicle

• Comprehensive – This pays for the following hazards: vandalism, theft, fire, weather, and glass damage to your own vehicle. A deductible of from $100 to $1,000 can be chosen.
• Collision – This pays for collision damage to your vehicle. A deductible of from $100 to $1,000 can be chosen.

Choose your deductible based upon your ability to afford the outlay and the amount required by the loan company that provided the money for your car.

Insurance Rates

Insurance rates vary from company to company based upon that insurance company’s filing with the State Department of Insurance. Statistics strongly influence insurance rates. These statistics are applied to rate classes, automobiles, and situations.

Different states have different rate filings, too. Statistical variations are wide and the rates reflect that.

For example, insurance rates in Maine are among the lowest in the nation because people in Maine do not often bring lawsuits about car accidents.

However, insurance rates in Louisiana are very high as a result of a legal climate that encourages lawsuits.

It’s rather difficult for individuals to choose to move to a certain area to reduce their insurance rates. It is best to be active in insurance reform in your state to enact change.

Examples of Insurance Quotations in the City of Miami

These quotations are from divergent companies that write insurance in Florida.

The posited individuals for the quotations have the following characteristics: Man and wife, middle-aged (35-55), one son (16) who recently received a driver’s license, living within the city. The car they supposedly drive is a 2014 Volvo.

The first insurance company would charge $3,529.73 for six months coverage; whereas, the second insurance company would charge $2,147.00 for six months coverage for the same individuals.

Be sure to get quotations that reflect your own circumstances, cars, and drivers.

Judging an insurance company or area by quotations obtained second-hand is inaccurate and can be misleading.

Comparison-Shopping for Car Insurance

As you can see, you could save money by checking insurance rates from several different companies. To obtain an online quote, enter “auto insurance quotes” in the search engine of your browser. A number of advertisements will show up on the page.

You can click on any of the sites that indicate free quotes and get a quotation for car insurance.

What you’ll need to have available for a quote:

• Full names, dates of birth, and license numbers for all drivers
• Year, make, and model of all your vehicles
• Usage of your cars – example: commute 20 miles one way to work 5 days a week
• Limits of liability
• $100,000/300,000 bodily injury liability
• $50,000 property damage liability
• $10,000 Personal Injury Protection/Property protection
• $100,000/300,000 uninsured motorists coverage
• $500 deductible collision
• $500 deductible comprehensive

The insurance company will request your Social Security Number. This helps the insurance company investigate your credit rating and other details that affect your ratings.

If you choose not to enter your Social Security Number, the final quotation will only be valid after you do enter it and pay a down payment on the insurance, but you will have an excellent idea of the cost of your insurance.

Try several insurance companies in your search for quotes because they sometimes vary widely. After you’ve chosen one or two insurance companies, you need to check the financial stability of each company.

Go to A. M. Best on the Internet and enter the name of your chosen insurance company to examine the financial rating of the company. The company should be rated as an A or above to indicate financial stability This is important because it means that the company will be able to handle paying catastrophic losses.

Ways of Saving Money on Car Insurance

Insurance companies offer credits for various circumstances. Search to find credits on your insurance:

• Good student discount
• Multiple vehicles
• Membership in certain organization
• Alumni of certain colleges
• Some occupations – for example, the military or teachers
• Bundling homeowners and auto insurance

Often you’ll have to go into the intricacies of completing an application to determine if these credits are available. Sometimes a really good individual as an insurance agent can help you with examining quotes for credits.

Do a competent job of looking for insurance comparison-shopping to ensure the lowest price.

Check on the Internet as well as with your friends, relatives, and acquaintances to make certain that the insurance company you’ve chosen settles their claims promptly and professionally.

Price is definitely important, but so is service because that’s a large portion of the reason for insurance premiums.

Be sure to always compare quotes before deciding on an auto insurance company. Use the FREE comparison tool located on this page!