7 Factors used by to Auto Insurance Companies in Florida to Determine Your Car Insurance Costs

In most states some level of car insurance is required, Florida included. That is why it is so important to understand insurance and how auto insurance companies in Florida factor your premiums. Car insurance rates depend on a number of factors. These include:

1. Age. How old you are plays a big part of how much you are going to pay for car insurance. Teenagers and senior citizens are much more likely to be involved in a car accident and therefore pay more to be insured.
2. Marital status. Insurance companies work with data that has shown married individuals are safer drivers, and therefore less of a risk to insure. When you are settled down for good, your car insurance company gives you a little break!
3. Average annual distance driven. The more you drive your vehicle, the more likely you are to get into an accident. That just makes sense! Those who drive a few blocks each day have much fewer opportunities to get into any type of crash than someone getting on the interstate and driving to another city each day.
4. Where you live. This is true for two reasons. When you own a home, you pay less for car insurance probably for the same reason as when you get married; you are considered to be less of a risk. Remember that your car insurance doesn’t just cover accidents, but also theft and vandalism. This means where you park your car each night is a big deal to your car insurance company!
5. Your credit score. Fair or not, car insurance companies use your credit score to determine to responsible you are and how likely you are to pay your premium on time every month. Something like getting behind on student loan debt can make your car insurance premiums go up!
6. The vehicle you are covering. The fair market value of your car and the history of other drivers with the same make and model play a factor in your auto insurance rates. Sadly, your brand new red sports car is going to cost you quite a bit to insure even if you are a safe driver. A sensible, white sedan on the other hand will cost significantly less to insure for the exact same driver.
7. Your coverage amount and type. Exactly how much coverage you want is one of the biggest factors in how much you will pay. More coverage costs more and less coverage costs less, of course!

Because of all of these different factors, who is the most affordable Florida auto insurance company for one driver may not be the same as someone else. You need to do your research on your own unique situation. Don’t just listen to a television commercial or choose the same company as your best friend. Your driving history, personal details, and vehicle all factor into which policy is going to be the least expensive for you.

Your driving history, personal details, and vehicle all factor into which policy is going to be the least expensive for you.