How to Know You're Spending Too Much for Auto Insurance in Coconut Grove

Paying for high-priced auto insurance can dwindle your bank account and put a big crunch on your finances. Comparison shopping is free and is an excellent way to help make ends meet.

Insurance companies such as GEICO and Progressive promote their brand names with ads and it can be hard to sift through the bull and effectively compare rates to find the best deal.

It's important to check auto insurance prices quite often because insurance rates are constantly changing. Just because you found the best deal two years ago the chances are good that you can find a lower rate today. So ignore everything you know about auto insurance because you're about to learn the proper way to save money, get proper coverage and the best rates.

Take advantage of discounts

Car insurance is not cheap, but there are discounts available that you may not know about. Certain discounts will be triggered automatically at quote time, but some must be specially asked for in order for you to get them.

  • Braking Control Discount - Anti-lock brake equipped vehicles can reduce accidents and earn discounts up to 10%.
  • Resident Student - Any of your kids who live away from home and do not have access to a covered vehicle may qualify for this discount.
  • Own a Home - Being a homeowner may earn you a small savings due to the fact that maintaining a home requires personal responsibility.
  • Accident Free - Drivers who don't have accidents can earn big discounts compared to bad drivers.
  • Driver Safety - Completing a course in driver safety could cut 5% off your bill and easily recoup the cost of the course.
  • Good Student Discount - A discount for being a good student can get you a discount of up to 25%. The discount lasts well after school through age 25.

A little note about advertised discounts, most discount credits are not given to the overall cost of the policy. A few only apply to individual premiums such as comprehensive or collision. So when it seems like all the discounts add up to a free policy, you won't be that lucky. Any amount of discount will reduce your overall premium however.

To see a list of providers who offer auto insurance discounts in Coconut Grove, click this link.

Coconut Grove auto insurance quote

Free Quotes for Auto Insurance in Coconut Grove, Florida

There are several ways of comparing rate quotes from local Coconut Grove auto insurance companies. The best method to compare insurance prices is to perform an online rate comparison. This can be done using a couple different methods.

  • The best way to get quotes is to use a rate comparison form (click to open form in new window). This form saves time by eliminating multiple quote forms for every auto insurance company. One form gets you price quotes from multiple low-cost companies.
  • A less efficient way to compare rate quotes requires visiting the website for each individual company to complete a price quote. For instance, let's say you want comparison quotes from , and . To get rate quotes you would need to go to every website and enter your policy data, which is why the first method is more popular. To view a list of companies in Coconut Grove, click here.
  • The hardest way to get comparison rates is to spend your day driving to local Coconut Grove insurance agencies. The internet has reduced the need for local agents unless you require the trained guidance of a local Coconut Grove agent. Drivers can obtain prices from the web and still use a local agent.

It's up to you how you get prices quotes, just make darn sure you compare exactly the same quote information for every company. If your comparisons have mixed coverages it will be impossible to decipher which rate is best in Coconut Grove. Having just a slight variation in coverages can make a big difference in price. And when comparison shopping, quoting more will improve the odds of getting the best offered rates.

What determines how much you pay?

An important part of buying insurance is that you know the rating factors that help determine the price you pay for auto insurance. Having a good understanding of what impacts premium levels allows you to make educated decisions that can help you get lower auto insurance prices.

  • Multi-policy discounts can save money - Many auto insurance companies give discounts to customers who carry more than one policy such as combining an auto and homeowners policy. Discounts can be ten or even up to twenty percent in some cases. Even if you're getting this discount you still need to compare rates to make sure you are getting the best deal.
  • Mature drivers pay less - More mature drivers tend to be more responsible, tend to file fewer claims and receive fewer citations. Teen drivers are known to be more careless when driving and because of this, their auto insurance rates are much higher.
  • Increase deductibles and save - Insurance for physical damage to your car, commonly called comprehensive (or other-than-collision) and collision coverage, protects your car from damage. Examples of covered claims could be a windshield shattered by a rock, damage caused by hail, and windstorm damage. Physical damage deductibles are the amount of money you are required to spend before your auto insurance pays a claim. The more money you're willing to pay, the bigger discount you will receive.
  • Occupation reflects on rates - Did you know that where you work can have an impact on rates? Occupations like doctors, executives and dentists tend to pay the highest average rates because of high stress levels and lengthy work days. Other professions such as pilots, historians and performers have the lowest average rates.
  • Policy add-ons can waste money - There are a ton of add-on coverages you can purchase on your auto insurance policy. Insurance for roadside assistance, better glass coverage and motor club memberships may be wasting your money. These may sound like a good investment when you first buy your policy, but if you don't need them eliminate the coverages to reduce your premium.

How to know if you need help

When choosing proper insurance coverage for your personal vehicles, there really is not a one size fits all plan. Everyone's needs are different so this has to be addressed. These are some specific questions may help you determine whether your personal situation will benefit from professional help.

  • Do I need PIP (personal injury protection) coverage in Florida?
  • Why does it cost so much to insure a teen driver in Coconut Grove?
  • Does my policy cover my teen driver if they drive my company car?
  • Are there companies who specialize in insuring high-risk drivers?
  • Should I have combined single limit or split liability limits?
  • Do I need to file an SR-22 for a DUI in Florida?
  • What can I do if my company won't pay a claim?
  • Does medical payments coverage apply to all occupants?

If it's difficult to answer those questions, then you may want to think about talking to an agent. To find an agent in your area, fill out this quick form or click here for a list of auto insurance companies in your area.

Are auto insurance companies telling the truth?

Companies like Allstate and Progressive continually stream ads on TV and radio. All the ads make the same claim about savings after switching to them. How can each company make almost identical claims?

All companies have a preferred profile for the type of driver that is profitable for them. An example of a preferred risk could possibly be between the ages of 40 and 55, insures multiple vehicles, and chooses high deductibles. A driver who matches those parameters receives the best rates and most likely will save when they switch companies.

Potential insureds who don't qualify for the requirements will be charged more money which leads to the driver buying from a lower-cost company. Company advertisements say "customers that switch" not "people who quote" save money. This is how companies can truthfully state the savings.

That is why drivers must compare as many rates as you can. It is impossible to predict which insurance companies will give you the biggest savings.

Final considerations

When buying insurance coverage, it's a bad idea to reduce coverage to reduce premium. Too many times, drivers have reduced liability limits or collision coverage only to find out that their decision to reduce coverage ended up costing them more. The aim is to buy enough coverage at a price you can afford, not the least amount of coverage.

Cheaper auto insurance can be sourced online and with local Coconut Grove insurance agents, so you should be comparing quotes from both in order to have the best chance of saving money. Some insurance companies do not offer the ability to get a quote online and many times these smaller companies only sell through independent insurance agents.

In this article, we presented some good ideas how to compare auto insurance prices online. The most important thing to understand is the more quotes you get, the higher your chance of finding lower rates. Drivers may discover the lowest priced auto insurance comes from a small local company. These smaller insurers may cover specific market segments cheaper than their larger competitors like .

Coconut Grove auto insurance comparison

More sites with auto insurance information

Additional information is available on the website for the Florida Office of Insurance Regulation located here. Florida consumers can read consumer alerts, read enforcement actions against agents and companies, report car insurance fraud, and read industry bulletins.