How to Know You're Paying Too Much for Car Insurance in South Miami

Nobody looks forward to paying for car insurance, especially when they are paying too much. Online insurance companies like State Farm, Allstate, GEICO and Progressive constantly bombard you with advertising and consumers find it hard to sift through the bull and effectively compare rates to find the best deal.

South Miami Rates are Influenced by These Factors

Consumers need to have an understanding of some of the elements that go into determining your car insurance rates. Having a good understanding of what impacts premium levels enables informed choices that could result in lower car insurance prices.

Lower deductibles cost more - Your deductibles represent how much money you are willing to pay before your car insurance pays a claim. Insurance for physical damage to your car, also known as collision and other-than-collision, is used to repair damage to your car. Some instances where coverage would apply are colliding with a building, collision with an animal, and windstorm damage. The more expense you are required to pay out-of-pocket, the lower your rates will be.
Credit scores impact car insurance rates - A driver's credit score is a big factor in determining your rates. Therefore, if your credit rating is lower than you'd like, you could save money insuring your by improving your credit score. Drivers who have good credit tend to be better drivers and file fewer claims than drivers who have poor credit.
More than one policy can earn a discount - Most companies will award you with lower prices to policyholders who buy several policies from them such as combining an auto and homeowners policy. Discounts can add up to anywhere from five to ten percent in most cases. Even if you're getting this discount it's still a good idea to comparison shop to ensure the best deal.
Better crash test results mean better rates - Cars with high safety ratings are cheaper to insure. Safe vehicles reduce injuries and fewer injuries means less money paid by your insurance company and more competitive rates for policyholders.

More discounts equal less premium

Companies do not advertise all available discounts in a way that's easy to find, so the following is a list of some of the more common and also the lesser-known car insurance savings. If you aren't receiving every discount you qualify for, you are paying more than you should be.

Multi-car Discount - Having more than one vehicle with the same company can get a discount on all vehicles.
Anti-lock Brake Discount - Vehicles equipped with ABS or steering control are safer to drive and qualify for as much as a 10% discount.
Anti-theft Discount - Anti-theft and alarm systems help deter theft and earn discounts up to 10%.
Service Members Pay Less - Having a deployed family member could mean lower rates.
Good Student - This discount can get you a discount of up to 25%. The good student discount can last until age 25.
Student in College - Children living away from home attending college and do not have a car may be able to be covered for less.

As a disclaimer on discounts, most of the big mark downs will not be given to your bottom line cost. The majority will only reduce specific coverage prices like physical damage coverage or medical payments. So when the math indicates it's possible to get free car insurance, car insurance companies aren't that generous.

To choose insurers offering car insurance discounts in South Miami, follow this link.

Switch companies and save? Really?

Consumers can't ignore all the ads for cheaper car insurance by Allstate, GEICO and Progressive. All the companies say the same thing about savings if you switch to their company.

How can each company make the same claim? It's all in the numbers.

All companies have a certain "appetite" for the driver that makes them money. A good example of a profitable customer could be between 30 and 50, owns a home, and has great credit. A customer who fits that profile gets the lowest rates and therefore will save when they switch companies.

Drivers who do not match the requirements must pay a higher premium which usually ends up with business going elsewhere. Company advertisements say "customers who switch" not "everyone that quotes" save that much. That is how companies can truthfully advertise the savings. This illustrates why you should get a wide range of price quotes. Because you never know which company will fit your personal profile best.

It's not one size fits all

When buying coverage for your vehicles, there really is not a best way to insure your cars. Every situation is different so your insurance needs to address that. Here are some questions about coverages that might point out if you might need professional guidance.

Am I covered when driving on a suspended license?
Can I get a multi-policy discount for packaging my home and auto coverage?
Am I covered when renting a car or should I buy coverage from the car rental agency?
Do I have coverage when using my vehicle for my home business?
Do I need to file an SR-22 for a DUI in Florida?
Why does it cost so much to insure a teen driver in South Miami?
Should I buy additional glass protection?

If you don't know the answers to these questions but one or more may apply to you, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, fill out this quick form or go to this page to view a list of companies. It is quick, free and you can get the answers you need.

Even more information can be read at the Florida Office of Insurance Regulation website. Consumers can report car insurance fraud, find out industry alerts, read consumer alerts, and find disaster information.

A tidy conclusion

Cheap car insurance can be found from both online companies and also from your neighborhood South Miami agents, so compare prices from both to have the best selection. There are still a few companies who may not provide online price quotes and usually these small insurance companies provide coverage only through local independent agents.

When you buy insurance online, it's not a good idea to buy poor coverage just to save money. In too many instances, an insured cut collision coverage and discovered at claim time that the few dollars in savings costed them thousands. Your focus should be to buy the best coverage you can find at the best price while not skimping on critical coverages.