Which Type of Florida Car Insurance Policy is Right for You?

Which Type of Florida Car Insurance Policy is Right for You?

Everybody in Florida needs car insurance. It’s not an opinion, it’s actually the law in nearly every state in the country. Because of this, auto insurance companies at https://floridainsurancequotes.net/florida-auto-insurance/ offer customers a plethora of options to choose from when selecting their coverage. Car insurance policies are not one size fits all, some drivers may need more intense coverage than others.

Insurance rates have be on the incline over the years. Residents have surely noticed and Florida has been no exception. Car insurance prices and rates will be based heavily on any perceived risk the policy holder may be in. Driver statistics can affect policy rate. Younger drivers, those with less experience behind the wheel, may be facing a higher rate than those who have been driving for decades. Certain types of cars also carry heavier rates than others. Vehicles with four wheel drive will often carry a higher rate as will sports cars and convertibles.

But one of the things that will most affect the cost of insurance from driver to driver is the type of coverage purchased. Here are just a few policy options that are on the market today for Florida drivers.

No. 1: Liability Insurance

When a state law requires drivers to have car insurance, they are almost always referring to liability insurance. Liability insurance will cover costs associated with an accident if the policy holder is decided to be at fault for the damages. Liability will not cover any type of weather damage or losses due to theft. It will, however, pay for repairs for damage done to another’s property in the case of a collision. This includes damage to buildings or medical bills accrued due to injury for the other driver.

It is often a good idea to go a bit beyond the minimum requirements when purchasing liability insurance. The more liability insurance owned, the more money that will be provided in the case of an accident.

No. 2: Collision

The main problem with only having the minimum requirement of liability insurance, is any damage done to your own personal car will not be covered in the case of an accident. Liability will only pay for damage to the other involved person’s property.

Anyone who relies heavily on their car for work would be wise to have at least collision as well as liability. This means any damage done to your property will also be covered. This will help those who need their car get back behind the wheel quickly and without having to pay large out of pocket expenses to get on the road again.

No. 3: Comprehensive

Comprehensive coverage is a policy of auto insurance Florida drivers should never go without according to https://floridainsurancequotes.net/florida-auto-insurance/. This coverage will pay for the repair of any damage done to the car in the case of damage caused by weather or similar natural disaster. This includes fires, falling trees or limbs, or flooding. Comprehensive coverage is also the policy that will also cover theft. If a car is stolen, even if unrecovered, cheap auto insurance in Florida will help pay to replace any stolen parts or even, in some cases, the entire car.

Unfortunately, because of its wide span of coverage options, comprehensive coverage can be a pricey addition if added to an auto insurance plan.

No. 4: Gap

Gap insurance is often the additional coverage that will be required by loan offices when purchasing a new car. If you are still making payments on a car and owe more to the dealership than the car is currently worth (due to deflating prices on new cars) gap insurance can help make up this difference in the case of an accident. Because most insurance types will only cover the value of the car, not the price to actually replace it with a similar car, gap coverage can often be a good choice. It will make up for the value owed on the car as opposed to the blue book value of the car.