If you are new to getting Miami car insurance quotes online, by this point your are probably overwhelmed by the sheer number of auto insurance companies who all claim to have the lowest rates for Fiat 500 insurance in Miami.
Steps to finding lower priced Fiat 500 insurance in Miami
It takes a few minutes, but the best way to get cheaper car insurance rates is to compare quotes once a year from providers who can sell car insurance in Miami.
Step 1: Get a basic knowledge of car insurance and the modifications you can make to drop your rates. Many risk factors that are responsible for high rates like traffic citations, accidents, and an unacceptable credit history can be improved by making lifestyle changes or driving safer. Read the full article for tips to get cheaper rates and find possible discounts that are available.
Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give prices from a single company like Progressive or Farmers Insurance, while agents who are independent can quote prices from multiple sources.
Step 3: Compare the new rates to your current policy and see if there is a cheaper rate in Miami. If you can save some money and change companies, make sure coverage is continuous and does not lapse.
Step 4: Provide notification to your current company of your intention to cancel your existing policy. Submit a signed application and payment for your new policy. As soon as you have the new policy, place your new proof of insurance paperwork along with your vehicle registration.
A key point to remember is to use the same physical damage deductibles and liability limits on each quote and and to get quotes from all possible companies. Doing this enables an apples-to-apples comparison and the most accurate and complete price analysis.
Unthinkable but true, over 70% of consumers have bought auto insurance from the same company for at least four years, and nearly the majority have never compared auto insurance rates at all. Many consumers in the United States can save hundreds of dollars each year just by comparing rates, but they just feel it’s too hard to find cheap auto insurance rates.
Learn How to Buy Insurance at a Discount
It’s important that you understand the different types of things that aid in calculating your premiums. When you know what positively or negatively positively or negatively impacts your premiums, this empowers consumers to make smart changes that may result in much lower annual insurance costs.
How many miles do you drive? – Driving a lot of miles each year the more you’ll pay to insure it. Almost all companies price each vehicle’s coverage based upon how much you drive. Vehicles that have low annual miles receive better premium rates than those that get driven frequently. Having an incorrect usage rating on your 500 may be costing you. It’s a good idea to make sure your insurance declarations sheet shows the right rating data, because it can save money.
Good drivers pay the best rates – Drivers who don’t get tickets tend to pay less for car insurance than their less careful counterparts. Just one moving violation can increase rates twenty percent or more. Drivers who have received careless violations like DUI or reckless driving might be required by their state to submit a SR-22 or proof of financial responsibility with their state’s licensing department in order to continue driving.
Cheaper rates by bundling – The majority of companies give better rates to buyers who carry more than one policy in the form of a multi-policy discount. The discount can add up to ten or even up to twenty percent in some cases. Even though this discount sounds good, you may still want to compare other company rates to verify if the discount is saving money. You may still be able to save even more by buying from different companies
Better premiums on safer vehicles – Vehicles with high crash test scores are cheaper to insure. Safer cars result in less severe injuries and reduced instances of injuries means your insurance company pays less passed on to you as lower rates.
Lower rates for married couples – Having a spouse actually saves money on your insurance policy. Having a significant other translates into being more mature and responsible and statistics show drivers who are married file infrequent claims.
Liability insurance limits on your policy – A critical coverage on your policy, liability insurance is the protection when you are ruled to be at fault for causing personal injury or damage in an accident. Your policy’s liability insurance provides legal defense coverage to attempt to prove you were not liable. This coverage is relatively inexpensive compared to insuring for physical damage coverage, so buy as much as you can afford.
Fiat 500 historical loss data – Insurance companies use past loss statistics for each vehicle to help determine rates. Vehicles that the statistics show to have increased claim numbers or amounts will cost more for specific coverages. The table shown below demonstrates the collected loss data for Fiat 500 vehicles.
For each policy coverage type, the statistical loss for all vehicles, regardless of make or model, is equal to 100. Numbers that are below 100 mean the vehicle has better than average losses, while values that are above 100 indicate more frequent claims or tendency to have larger claims.
| Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Fiat 500 | 72 | 76 | 66 | 96 | 89 | 84 |
| Fiat 500 Convertible | 76 | 79 | 60 | 85 | ||
| Fiat 500 Electric | 73 | 59 | 76 | 60 | ||
| Fiat 500L | 112 | 80 | 102 | 128 | 93 | 97 |
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
When comparing insurance rates, know that getting more free quotes helps you find the best rates. Not every company allows you to get online price quotes, so it’s necessary to compare quotes from them as well.
The car insurance companies shown below have been selected to offer quotes in Florida. To buy cheap auto insurance in Miami, FL, we suggest you visit several of them in order to get a fair rate comparison.
Auto insurance protects more than just your car
Despite the fact that auto insurance is not cheap in Miami, insurance may be required for several reasons.
- The majority of states have mandatory insurance requirements which means you are required to buy a specific level of liability coverage if you don’t want to risk a ticket. 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.
- If you bought your Fiat with a loan, more than likely the lender will make it mandatory that you buy insurance to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the lender will be forced to insure your Fiat at a more expensive rate and force you to pay the higher price.
- Insurance safeguards not only your Fiat 500 but also your assets. It will also reimburse you for medical transport and hospital expenses for both you and anyone you injure as the result of an accident. Liability coverage also covers legal expenses if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, your auto insurance policy will cover the damage repairs after a deductible is paid.
The benefits of having auto insurance definitely exceed the price paid, particularly for liability claims. According to a recent study, the average American driver is overpaying over $869 every year so we recommend shopping around once a year at a minimum to help ensure money is not being wasted.
Discounts mean cheaper rates for Fiat 500 insurance in Miami
Some providers don’t necessarily list every policy discount in a way that’s easy to find, so the next list breaks down both well-publicized and also the lesser-known credits that you can use to lower your rates.
- Telematics Data Discounts – Miami drivers who agree to allow data collection to track where and when they drive through the use of a telematics system like In-Drive from State Farm and Progressive’s Snapshot could possibly reduce rates if their driving habits are good.
- Include Life Insurance and Save – Not every insurance company offers life insurance, but if they do you may earn lower rates if you buy auto and life insurance together.
- Savings for New Vehicles – Insuring a vehicle that is new can save you some money because new model year vehicles keep occupants safer.
- Federal Government Employee – Active or retired federal employment can save as much as 8% with some insurance companies.
- Accident Forgiveness Coverage – Not really a discount, but companies like State Farm and Progressive permit an accident without the usual rate increase as long as you don’t have any claims for a certain period of time.
- Discount for Home Ownership – Owning a house in Miami can earn you a little savings since owning and maintaining a home is proof of financial responsibility.
Remember that most discounts do not apply to all coverage premiums. Most only cut the price of certain insurance coverages like collision or personal injury protection. If you do the math and it seems like you can get free auto insurance, it’s just not the way it works.
Companies that possibly offer most of these discounts include:
If you want affordable Fiat 500 insurance quotes, ask every prospective company how many discounts you can get. Savings might not be available to policyholders in your state. To locate insurers that offer the discounts shown above in Miami, click this link.
You may need help from an insurance agency
Some people would prefer to talk to a local agent and often times that is recommended A good thing about comparing car insurance online is you may find cheap rate quotes but still work with a licensed agent.
Once you complete this simple form, your coverage information is emailed to local insurance agents who will give you quotes to get your business. It makes it easy because there is no need to visit any agencies due to the fact that quote results will go to you directly. You can find better rates without requiring a lot of work. If for some reason you want to compare rates from a particular provider, you just need to go to their quote page and fill out their quote form.
Finding the right insurer requires more thought than just the premium amount. Any agent in Miami should have no problem answering these questions:
- Is vehicle mileage a factor when determining depreciation for repairs?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
- Are there any discounts that you might be missing?
- Is the coverage adequate for your vehicle?
- How often do they review coverages?
- Which members of your family are coverage by the policy?
If you are searching for a local Miami insurance agency, there are a couple of types of agencies and how they differ in how they can insure your vehicles. Agents in Miami are considered either independent agents or exclusive agents.
Exclusive Agencies
Agents in the exclusive channel generally can only insure with one company and some examples include Farmers Insurance, Allstate, or State Farm. These agents are unable to provide prices from multiple companies so keep that in mind. Exclusive insurance agents receive a lot of sales training on their company’s products which helps them sell on service rather than price. A lot of people buy from exclusive agents mostly because of loyalty to the company instead of buying on price only.
Shown below is a list of exclusive agents in Miami who can help you get price quote information.
- Rick Gonzalez – State Farm Insurance Agent
8830 Coral Way – Miami, FL 33165 – (305) 226-3412 – View Map - Mario Obregon – State Farm Insurance Agent
6701 Sunset Dr #115 – South Miami, FL 33143 – (305) 661-7667 – View Map - Gus Figueredo – State Farm Insurance Agent
7950 W Flagler St #103 – Miami, FL 33144 – (305) 262-0440 – View Map
Independent Agents (or Brokers)
Agents of this type are not required to write business for one company and that gives them the ability to insure through many different car insurance companies and get you the best rates possible. If you are not satisfied with one company, they can switch companies in-house and that require little work on your part.
If you are trying to find cheaper rates, we recommend you get several quotes from at a minimum one independent agency to have the best price comparison. Most can insure with additional companies that you may not be familiar with which may have better rates.
Listed below is a list of independent agencies in Miami who can help you get price quote information.
- Eguino and Associates Insurance Agency, Inc.
7229 SW 24th St – Miami, FL 33155 – (305) 266-1700 – View Map - GreatFlorida Insurance – Westchester Insurance Agency
8833 Bird Rd – Miami, FL 33165 – (786) 409-2211 – View Map - Leading Insurance Agency
1733 SW 22nd St – Miami, FL 33145 – (305) 857-0075 – View Map
Cheap insurance rates are possible
Insureds who switch companies do it for a variety of reasons including not issuing a premium refund, delays in paying claims, unfair underwriting practices or even an unsatisfactory settlement offer. It doesn’t matter why you want to switch finding a new company can be less work than you think.
Some insurance companies do not provide rate quotes online and many times these small insurance companies only sell coverage through independent agents. Lower-priced insurance in Miami is possible online and with local Miami insurance agents, and you need to price shop both to have the best rate selection.
As you shop your coverage around, do not buy lower coverage limits just to save a few bucks. There are a lot of situations where drivers have reduced liability coverage limits only to regret that it was a big error on their part. Your strategy should be to purchase a proper amount of coverage at the best possible price, but do not skimp to save money.
How to find lower priced Fiat 500 insurance in Miami
If you want to save the most money, the best way to get the cheapest car insurance rates is to begin comparing prices regularly from different companies that insure vehicles in Miami.
- First, gain an understanding of auto insurance and the things you can control to prevent high rates. Many rating factors that cause rate increases like speeding tickets, careless driving and bad credit can be improved by making minor driving habit or lifestyle changes.
- Second, quote rates from direct, independent, and exclusive agents. Direct and exclusive agents can provide rates from a single company like GEICO or State Farm, while independent agents can quote prices from many different companies.
- Third, compare the new quotes to your current policy premium to see if a cheaper price is available in Miami. If you can save some money and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
An important bit of advice to remember is to use the same coverage limits and deductibles on each price quote and and to look at as many different companies as possible. Doing this provides an apples-to-apples comparison and plenty of rates choose from.
Helpful learning opportunities
- Rental Car Insurance Tips (Insurance Information Institute)
- Who Has Cheap Miami Auto Insurance Rates for College Students? (FAQ)
- Who Has the Cheapest Auto Insurance for Electric Cars in Miami? (FAQ)
- Who Has Cheap Car Insurance Rates for a Subaru Forester in Miami? (FAQ)
- What Car Insurance is Cheapest for First-time Drivers in Miami? (FAQ)
- How to shop for a safer car (Insurance Institute for Highway Safety)
- Auto Crash Statistics (Insurance Information Institute)
- Understanding Car Crashes Video (iihs.org)
- Five Tips to Save on Auto Insurance (Insurance Information Institute)