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Cheap Car Insurance Orlando, Florida

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image via Flickr by Pictures of Money

One of the most crucial factors in selecting an insurer for your vehicle is price. Is it possible to get cheap car insurance in Orlando, Florida? The average annual cost of car insurance in Orlando is $2,302, which is comparable to the statewide average of $2,309, but more than the national rate of $1,548. If you understand what aspects go into determining insurance premiums, then you’ll be able to shop around for the best deals.

Minimum Car Insurance Requirements in Orlando

Only bodily injury and property damage liability are mandatory in Florida, so you have the option of adding a policy for yourself, your occupants, and your car. It’s a good idea to purchase comprehensive and collision coverage if you have a newer model car. On an annualized average in Florida, comprehensive insurance costs $153 and collision insurance costs $491.

There is a deductible attached to these supplemental coverages. This is the amount you must pay before your insurance provider reimburses you. The most common deductibles are $1,000, $500, and $250, and you can choose what you’d like. Your premiums will be lower if your deductible is greater. The best vehicle insurance isn’t always the most affordable, but if you’re in an accident and your insurance doesn’t cover all the damages, you could end up paying more in the long run.

Minimum Car Insurance Requirements in Florida

All motor vehicles that are driven or parked on Florida roads must be insured. The certificate of insurance must always be present in your vehicle at all times and produced:

  • When law enforcement has made a request
  • During vehicle registration renewal
  • When a car has been involved in an incident

The following are the minimum liability coverage requirements for private passenger vehicles:

$10,000 no-fault or personal injury protection insurance

If a driver’s car is involved in an accident that causes injury to another person, a personal injury protection policy protects them. The state of Florida requires a $10,000 minimum cap.

Liability coverage can assist culprits with expenses involved in court proceedings as a result of a car accident. The minimum coverage required by Florida law includes bodily injury coverage. While PIP is mandatory in Florida, bodily injury liability is not unless the policyholder is culpable in an accident or has committed certain infractions, such as driving under the influence.

$10,000 property damage liability insurance

The sunshine state mandates a $10,000 minimum threshold for property damage liability insurance. This plan covers damage repair to another person’s property if an insured motorist is at fault in a car accident. If a covered motorist is embroiled in a lawsuit as a result of an accident, property damage coverage pays for legal expenses up to the specified policy amount.

Does Credit Rating Matter in Your Insurance Premiums?

Many insurance providers often use credit scores to weigh the risk of its clients. Drivers with bad or no credit are likely to pay more for insurance than those with strong or exceptional credit. This means that paying down debt and improving your credit score by a few points can result in lower rates. In fact, upgrading from a Very Poor to an Exceptional credit rating might save you up to 60% on your annual spending.

How Does Gender and Marital Status Impact Insurance Rates in Orlando?

Your marital status and gender also influence your premiums. Some insurance providers perceive married motorists to be safer drivers than unmarried motorists and offer them savings of up to $90 per year. In Orlando, female drivers pay more than male drivers for insurance in Orlando.

How Does Your Geographical Location Affect Your Insurance Rates?

Even within Orlando, Florida, different areas can have varied prices. This is because some zip codes have more inhabitants or traffic than others. These policyholders are more probable to submit a claim because of an accident, car theft, or burglary.

Insurance companies may take into account not just your residency in Orlando, but also your commute time. Spending more time on the road in your daily commute can result in higher rates than drivers who spend less time getting to their worksite.

How Much Does Insurance Go Up for Tickets in Orlando?

Drivers in Orlando may face a rate change of up to 32% for traffic offenses like tailgating or blowing through a red signal and 53% for more serious infractions like DUI. Keep in mind, though, that since insurance providers assess risk differently, you can still save money by shopping around. For example, one carrier may fine you heavily for a citation, while another may just raise your rate by a small amount.

How Much Does Insurance Cost for Teen Drivers?

Adding a 16-year-old daughter to your Orlando insurance coverage can raise your rates by an average of 110% per year. Including a son of a similar age will raise your annual cost by approximately 134%. According to federal statistics, teen drivers have less experience and get implicated in more accidents than older drivers. As a result, insurance firms classify them as high-risk drivers, making them more expensive to insure.

Do I Have to Maintain Car Insurance For a Vehicle That’s Not Driven Year-round?

Your Florida sticker is usable for a set duration of time, and the car must be insured throughout the registration term. You can relinquish your sticker and registration every time you leave Florida and then re-register your vehicle when you return to avoid getting penalized for a gap in coverage. However, if you have good insurance coverage, it may be less expensive to keep it throughout rather than paying extra payments.

It can be tough to choose an insurer in Orlando. While there is no one-size-fits-all carrier for each policyholder, getting quotes from a couple of different insurance companies can be beneficial. Examine not just the price of each package, but also the coverage it provides. It’s possible to get cheap car insurance in Orlando, Florida if you understand what aspects go into determining insurance premiums and shop around for the best deals.

FIXD Research Team

At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.

We’re here to help you simplify car care and save, so this post may contain affiliate links to help you do just that. If you click on a link and take action, we may earn a commission. However, the analysis and opinions expressed are our own.

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About the Author

FIXD Research Team

FIXD Research Team

At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.

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