Everyone knows that auto insurance companies don’t want you to look at other companies. Insureds who do rate comparisons are highly likely to buy a new policy because they have a good chance of finding a lower-priced company. A recent auto insurance study discovered that people who faithfully checked for cheaper rates saved about $3,500 over four years compared to policyholders who don’t regularly compare prices.
If finding the cheapest price for auto insurance in Miami is your ultimate goal, then having some knowledge of the best way to compare auto insurance can make it easier for you to save money.
The preferred way to get discount auto insurance rates is to make a habit of comparing prices annually from companies in Miami.
Step 1: Try to learn a little about how car insurance works and the measures you can control to drop your rates. Many rating criteria that are responsible for high rates like traffic citations and a bad credit score can be controlled by making minor changes in your lifestyle.
Step 2: Compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can give quotes from a single company like Progressive or Allstate, while independent agencies can provide prices from multiple companies.
Step 3: Compare the new rate quotes to the premium of your current policy to see if a cheaper price is available. If you can save some money, ensure coverage does not lapse between policies.
An important part of this process is to try to use the same deductibles and limits on every quote request and and to get price estimates from every insurance company. This helps ensure a level playing field and a complete price analysis.
Finding and comparing affordable coverage in Miami is not as time-consuming as you think. Just about every car owner who is shopping for car insurance most likely will find a cheaper policy. Although Florida consumers must learn how big insurance companies charge you for coverage and use it to find better rates.
When shopping for affordable Lexus NX 200t insurance quotes, there are a couple of ways to compare rate quotes from many insurance companies in Florida. One of the best ways to lower the rate you pay for Lexus NX 200t insurance is to jump online and get quotes.
Comparison shopping rates online is easy and it replaces the need to waste gas driving to insurance agencies in your area. Quoting and buying Lexus NX 200t insurance online has reduced the need for local agents unless you have a complicated situation and need the professional guidance that only a licensed agent can provide. Although, it is possible price shop your coverage online but have your policy serviced through an agent. When quoting insurance, remember that making a lot of price comparisons helps locate more affordable insurance.
The companies shown below provide price quotes in Miami, FL. In order to find the best cheap auto insurance in Florida, we recommend you compare several of them to find the most competitive car insurance rates.
Car insurance just makes sense
Even though it’s not necessarily cheap to insure a Lexus in Miami, insurance may be required and benefits you in several ways.
First, most states have minimum mandated liability insurance limits which means state laws require specific minimum amounts of liability protection if you want to drive legally. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if you have a loan on your Lexus NX 200t, almost every bank will stipulate that you buy insurance to guarantee their interest in the vehicle. If the policy lapses, the bank or lender will purchase a policy for your Lexus for a lot more money and require you to reimburse them much more than you were paying before.
Third, insurance safeguards not only your Lexus NX 200t but also your financial assets. Insurance will pay for medical expenses for yourself as well as anyone injured by you. As part of your policy, liability insurance also covers legal expenses if you are sued as the result of your driving. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.
The benefits of buying enough insurance outweigh the cost, particularly if you ever have a claim. In a recent study of 1,000 drivers, the average customer is wasting up to $830 a year so smart consumers compare quotes at least once a year to ensure rates are inline.
Information about specific coverages
Knowing the specifics of a auto insurance policy aids in choosing the best coverages and proper limits and deductibles. Auto insurance terms can be confusing and even agents have difficulty translating policy wording. These are typical coverage types offered by auto insurance companies.
Auto liability – Liability coverage protects you from damage that occurs to people or other property that is your fault. Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 10/20/10 which stand for $10,000 bodily injury coverage, a per accident bodily injury limit of $20,000, and property damage coverage for $10,000. Occasionally you may see one number which is a combined single limit that pays claims from the same limit with no separate limits for injury or property damage.
Liability coverage protects against things like attorney fees, bail bonds, structural damage, medical services and emergency aid. The amount of liability coverage you purchase is a personal decision, but it’s cheap coverage so purchase as large an amount as possible. Florida requires drivers to carry at least 10/20/10 but you should think about purchasing better liability coverage.
The next chart shows why buying minimum limits may not be high enough to cover claims.
Protection from uninsured/underinsured drivers – This coverage gives you protection when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include injuries to you and your family and damage to your Lexus NX 200t.
Because many people have only the minimum liability required by law (which is 10/20/10), their liability coverage can quickly be exhausted. So UM/UIM coverage is very important. Usually the UM/UIM limits are set the same as your liability limits.
Medical expense insurance – Coverage for medical payments and/or PIP pay for short-term medical expenses such as nursing services, surgery and hospital visits. They are used to fill the gap from your health insurance policy or if there is no health insurance coverage. Medical payments and PIP cover you and your occupants in addition to if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay
Comprehensive (Other than Collision) – Comprehensive insurance pays for damage that is not covered by collision coverage. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive insurance covers claims like hitting a bird, damage from getting keyed, falling objects, damage from flooding and vandalism. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Collision coverage – This coverage will pay to fix damage to your NX 200t resulting from colliding with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.
Collision can pay for things such as rolling your car, hitting a parking meter, scraping a guard rail and crashing into a building. Collision is rather expensive coverage, so consider removing coverage from vehicles that are older. You can also choose a higher deductible on your NX 200t to save money on collision insurance.
Best car insurance in Florida
Picking the highest-rated car insurance company can be rather challenging considering how many companies sell coverage in Miami. The ranking data in the lists below can help you analyze which insurers to look at comparing rate quotes with.
Top 10 Miami Car Insurance Companies by A.M. Best Rank
- Travelers – A++
- USAA – A++
- GEICO – A++
- State Farm – A++
- Titan Insurance – A+
- Esurance – A+
- Progressive – A+
- The Hartford – A+
- Allstate – A+
- Nationwide – A+