A recent insurance study revealed that the majority of drivers kept their coverage with the same insurance company for at least the last four years, and nearly the majority have never compared insurance rates at all. With the average insurance premium being $1,847, American drivers could save $860 a year by just comparing rate quotes, but they just don’t understand how easy it is to compare rate quotes online.
The best way we recommend to get cheaper Tesla Model S insurance is to compare quotes once a year from providers that sell auto insurance in Miami. You can shop around by following these guidelines.
- Step 1: Learn about auto insurance and the modifications you can make to keep rates in check. Many policy risk factors that are responsible for high rates like speeding and poor credit rating can be rectified by improving your driving habits or financial responsibility.
- Step 2: Request price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can only give prices from a single company like Progressive or Allstate, while independent agencies can provide prices from many different companies.
- Step 3: Compare the new rates to your existing coverage and determine if cheaper Model S coverage is available. If you find a lower rate quote, ensure coverage does not lapse between policies.
- Step 4: Notify your current company to cancel your existing policy and submit a down payment and signed policy application to the newly selected company. Immediately put the new proof of insurance paperwork with the vehicle registration.
One thing to remember is that you’ll want to compare similar limits and deductibles on every quote request and and to get rates from every insurance company. This helps ensure an accurate price comparison and maximum price selection.
Car insurance providers offering cheap rates in Florida
The companies shown below are our best choices to provide price quotes in Florida. To find the best cheap car insurance in Florida, we recommend you compare several of them to get a more complete price comparison.
Get discounts on Miami car insurance
Insuring your fleet can be pricey, but you may be missing some discounts to help bring down the price. Some discounts apply automatically when you get a quote, but less common discounts must be asked about prior to getting the savings.
- Low Mileage Discounts – Maintaining low annual mileage may enable drivers to earn substantially lower rates.
- Driver’s Ed – Reduce the cost of insurance for teen drivers by having them successfully complete driver’s ed class if offered at their school.
- Good Grades Discount – A discount for being a good student may save you up to 25%. The discount lasts up until you turn 25.
- ABS Braking Discount – Vehicles with ABS braking systems or traction control can reduce accidents and earn discounts up to 10%.
- Claim Free – Claim-free drivers can save substantially in comparison with policyholders that have many claims.
- Discount for Life Insurance – Select car insurance companies reward you with lower premium rates if you buy some life insurance in addition to your auto policy.
- Senior Citizen Rates – If you’re over the age of 55, you may qualify for lower premium rates.
- More Vehicles More Savings – Buying insurance for multiple cars on one policy may reduce the rate for each vehicle.
- Professional Organizations – Being in specific professional or occupational memberships or organizations is a good way to get lower rates on car insurance.
As a disclaimer on discounts, most discounts do not apply to your bottom line cost. The majority will only reduce specific coverage prices like liability, collision or medical payments. Even though the math looks like it’s possible to get free car insurance, car insurance companies aren’t that generous.
A few popular companies and some of the discounts are outlined below.
- Progressive offers discounts for multi-vehicle, homeowner, online quote discount, good student, multi-policy, and continuous coverage.
- MetLife discounts include claim-free, good driver, multi-policy, accident-free, good student, defensive driver
- Mercury Insurance includes discounts for ease of repair, accident-free, age of vehicle, professional/association, annual mileage, good driver, and location of vehicle.
- Nationwide may include discounts for business or organization, multi-policy, easy pay, accident-free, and anti-theft.
- GEICO has savings for good student, anti-theft, anti-lock brakes, defensive driver, federal employee, daytime running lights, and driver training.
- AAA offers premium reductions for good student, pay-in-full, multi-policy, multi-car, anti-theft, and education and occupation.
Before purchasing a policy, check with all companies you are considering which discounts you qualify for. Some of the discounts discussed earlier might not be offered in your state. To find companies who offer car insurance discounts in Miami, click here.
Learn How to Buy Auto Insurance for Less
Many different elements are used in the calculation when you get a price on insurance. Some are pretty understandable such as your driving record, but other criteria are more transparent like where you live or your vehicle rating.
The list below includes some of the most common factors used by your company to calculate premiums.
Premiums are lower the older you get – More mature drivers are shown to be more cautious, cause fewer claims and accidents, and tend to be get fewer driving tickets. Drivers with little experience are statistically proven to be careless and easily distracted in a vehicle and because of this, their auto insurance rates are much higher.
Gender and auto insurance premiums – Statistics show women are more cautious behind the wheel. That doesn’t necessarily mean that women are BETTER drivers than men. Both sexes tend to get into at-fault accidents at about the same rate, but the men tend to have more serious accidents. They also get more serious tickets such as driving while intoxicated (DWI) or driving recklessly. Youthful male drivers are several times more likely to be in an accident and thus pay the highest rates.
Consider raising comp and collision deductibles – Your deductibles are the amount of money you are required to spend out-of-pocket if a claim is determined to be covered. Protection for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. Examples of covered claims would be rear-ending another vehicle, damage caused by hail, and damage from wind. The more you are required to pay out-of-pocket, the less your company will charge you for insurance.
Credit rating impacts prices – A driver’s credit rating is a big factor in your rate calculation. Insureds that have very high credit ratings tend to be more responsible than drivers with lower credit ratings. So if your credit score could use some work, you could be paying less to insure your Tesla Model S if you improve your credit rating.
Where you live factors in – Living in less populated areas has it’s advantages when buying auto insurance. Drivers in populated areas regularly have more traffic problems and much longer commute distances. Lower population translates into fewer accidents in addition to lower liability claims.
Limits of liability coverage – Liability insurance is the coverage that protects you if ever you are ruled to be at fault for causing damage or personal injury in an accident. Liability provides legal defense which can be incredibly expensive. Carrying liability coverage is mandatory and cheap when compared to the cost of physical damage coverage, so drivers should buy more than the minimum limits required by law.
Tesla Model S historical loss data – Car insurance companies include the past claim trends for vehicles when setting rates for each model. Models that the data determines to have higher loss trends will be charged more to insure. The table below outlines the compiled insurance loss statistics for Tesla Model S vehicles.
For each insurance policy coverage type, the loss probability for all vehicles combined as an average is equal to 100. Values below 100 indicate better than average losses, while numbers shown that are more than 100 indicate frequent claims or statistically larger claims.
|Vehicle Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Tesla Model S 4dr Electric 2WD||324||116||208||39||46||104|
|Tesla Model S 4dr Electric 4WD||333|
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Insurance can be complex
When it comes to the right insurance coverage, there is no cookie cutter policy. Each situation is unique and your insurance should be unique as well.
These are some specific questions may help you determine if you would benefit from professional advice.
- Am I covered when renting a car or should I buy coverage from the car rental agency?
- What is PIP insurance?
- Should I have combined single limit or split liability limits?
- Is my ex-spouse still covered by my policy?
- How high should my medical payments coverage be?
- How can I find cheaper teen driver insurance?
- How can I get my company to pay me more for my totaled car?
- Is business equipment covered while in my vehicle?
If you don’t know the answers to these questions, you might consider talking to an insurance agent. To find an agent in your area, complete this form or go to this page to view a list of companies. It is quick, free and can help protect your family.
Insurance is available from your local insurance agencies
Many drivers would prefer to buy from a local agent and that is a smart decision Experienced insurance agents can help you choose the best coverages and help file insurance claims. An additional benefit of comparing insurance prices online is that you can find cheap insurance quotes and still have a local agent.
To help locate an agent, after submitting this short form, the quote information is submitted to insurance agents in Miami who will gladly provide quotes for your coverage. You don’t have to leave your house since price quotes are sent to the email address you provide. If you want to get a price quote from a specific insurance provider, feel free to jump over to their website and fill out the quote form the provide.
Selecting an company requires more thought than just the price. Here are some questions to ask:
- Is auto insurance their primary focus in Miami?
- Can you contact them at any time?
- Do they get paid more for recommending certain coverages?
- Is the agency active in community causes in Miami?
- Are all drivers listed on the coverage quote?
- Will they take your side in the event of a claim?
Two types of Miami auto insurance agents
When looking for a local insurance agency, you must know there are a couple types of agencies and how they can service your needs differently. Insurance agencies in Miami may be either independent or exclusive depending on the company they work for. Either one can sell and service insurance coverage, but it is a good idea to know the difference in the companies they write for because it may have an impact on the type of agent you choose.
Exclusive Insurance Agents
Agents in the exclusive channel have only one company to place business with like AAA, State Farm, Farmers Insurance, and Allstate. Exclusive agents cannot provide rate quotes from other companies so they really need to provide good service. They are very knowledgeable on their company’s products and that can be a competitive advantage. Some insured continue to buy from the same agent for years mostly because of loyalty to the company and solid financial strength.
Below are exclusive agencies in Miami that can give you price quote information.
- Allstate Insurance: Ramon Balladares
2455 SW 27th Ave #210 – Miami, FL 33145 – (305) 859-8556 – View Map
- Rick Burke – State Farm Insurance Agent
2250 S Dixie Hwy Ste. 2 – Miami, FL 33133 – (305) 860-0616 – View Map
- GEICO Insurance Agent
8514 SW 8th St – Miami, FL 33144 – (305) 595-2911 – View Map
Independent Agencies or Brokers
These type of agents often have affiliation with several companies and that gives them the ability to insure through many companies and possibly get better coverage at lower prices. If you are not satisfied with one company, an independent agent can move your coverage and you won’t have to switch agencies. If you are comparing insurance prices, you definitely need to contact multiple independent agents to get the best comparison. They also have the ability to place coverage with smaller regional carriers that can offer cheaper rates than bigger companies.
Shown below is a short list of independent agents in Miami who can help you get price quotes.
- Avante Insurance Agency
7490 W Flagler St – Miami, FL 33144 – (305) 648-7070 – View Map
- Miami Auto Insurance Agency
3132 NW 7th St – Miami, FL 33125 – (305) 649-1800 – View Map
- Beck and Lo’s Insurance Agency
3636 NW 36th St – Miami, FL 33142 – (305) 634-3306 – View Map
Cheaper car insurance is a realistic goal
In this article, we presented a lot of tips how to compare Tesla Model S insurance auto insurance rates in Miami. It’s most important to understand that the more quotes you get, the higher your chance of finding cheaper Miami auto insurance quotes. Consumers could even find that the lowest priced car insurance comes from some of the smallest insurance companies. These companies can often provide lower premium rates in certain areas than their larger competitors like Progressive and GEICO.
Cheap Tesla Model S insurance in Miami is definitely available on the web and also from your neighborhood Miami agents, and you need to comparison shop both to have the best rate selection. Some car insurance companies may not provide rates over the internet and most of the time these regional carriers only sell through independent agents.
For more information, feel free to browse the articles below:
- Auto Insurance Facts and Statistics (Insurance Information Institute)
- Who Has Affordable Auto Insurance for a Nissan Versa in Miami? (FAQ)
- What Car Insurance is Cheapest for a Ford Explorer in Miami? (FAQ)
- What Auto Insurance is Cheapest for Teenage Females in Miami? (FAQ)
- How Much are Auto Insurance Quotes with Multiple Speeding Tickets in Miami? (FAQ)
- What Car Insurance is Cheapest for First-time Drivers in Miami? (FAQ)
- Who Has Cheap Auto Insurance Rates for a 20 Year Old Male in Miami? (FAQ)
- Who Has Cheap Auto Insurance Rates for Handicapped Drivers in Miami? (FAQ)
- Property Damage Coverage (Liberty Mutual)
- Drunk Driving Statistics (Insurance Information Institute)