What Factors Affect Your Auto Insurance Cost In Florida

Any number of clothing articles may well be classified as “one-size-fits-all”. But when it comes to insurance rates, that is definitely not the case! What you’ll pay for your auto insurance is determined by numerous factors.

If you’re wondering what influences your auto insurance cost in FL, check out the information we’ve included here. The truth is, where you live, the vehicle you drive, a grade-point average, your age, your credit rating, and more can affect how much you pay for insurance. Let’s look specifically at what influences Florida insurance companies regarding what they charge drivers for auto insurance.

Personal Demographics

The cost of insurance can be determined by the driver. Typically, rates lower once you reach 25 years of age. The number of drivers on your policy, whether or not you own your home, where you live, and your driving record also help determine rates.

Example: If you live in an area that experiences a lot of deer/auto accidents or an area with a high theft rate, you will probably pay a higher price for your insurance. Additionally, if you’ve experienced a lot of car accidents – whether they were your fault or not – your rates may be higher. You’re considered a questionable risk.

Your Vehicle, Costs, and Lower Rates

How much you pay to insure a car can have a lot to do with the type of car you drive. The make and model of your car signal value.

For example, let’s say that a no-frills American car and a foreign luxury vehicle are in an accident and both receive the same damage. Repairs to the luxury foreign car are likely going to cost much more than repairs to the no-frills American car. So, guess which one costs more to insure.

If rather than purchasing a used car you buy a brand-new car, new car discounts are available through some insurance companies. If you’re insuring numerous vehicles on the same policy and/or if your vehicle has theft protection, lower rates may also be available.

Insurance Companies

Depending on what’s profitable for an insurance company, they work off of different business models. They may provide discounts for being insured with them for a number of years, for safe driving, and more. Various payment plans may also be offered by different insurance companies.

Example: Rather than paying every month, you may spend less money if you pay for six months at a time.

Remember one important factor – insurance companies are a business. Businesses need and want to make money. An insurance company may profess to care about you as a valued customer and as a person. But their true interests lie in watching out for themselves. It’s nothing personal. It’s just business.

How Can You Get the Most Affordable Auto Insurance in Florida?

At K&N Brokerage, we will take as much time as is needed to get to know not only you but what you need in the way of insurance. We’ll answer your questions, explain our insurance brokerage system, and more. Thousands of people have already customized and shopped their insurance with the help of our customer service representatives. If you’d like to join them, contact us today.

We offer umbrella insurance, renters, RV, condo insurance, boat, and motorcycle insurance as well as home and auto insurance. Whatever kind of insurance you need, we have your best interests at heart.

Click here to fill out a few quick pieces of information for a quote.