We don’t have to tell you that auto insurance companies don’t want policyholders to shop around. Insureds who shop around once a year are inclined to switch to a new company because there is a high probability of finding a more affordable policy. A recent survey found that drivers who shopped around annually saved over $3,400 over four years as compared to drivers who never shopped around.
If finding the lowest rates on auto insurance in Miami is why you’re reading this, then understanding the best ways to find and compare insurance coverage can make it easier to shop your coverage around.
It takes a little time, but the best way to save money on Subaru Impreza insurance in Miami is to do a yearly price comparison from insurance carriers in Florida.
Step 1: It will benefit you to learn about what coverages are included in your policy and the things you can control to keep rates in check. Many things that cause rate increases like speeding tickets, careless driving and a not-so-good credit score can be controlled by being financially responsible and driving safely.
Step 2: Compare price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from a single company like Progressive or State Farm, while independent agencies can provide price quotes from multiple companies.
Step 3: Compare the price quotes to the premium of your current policy and determine if cheaper Impreza coverage is available. If you find better rates and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.
The most important part of shopping around is that you use identical coverage information on every price quote and and to analyze all possible companies. Doing this enables a fair rate comparison and a better comparison of the market.
If you have coverage now, you stand a good chance to be able to cut your premiums using the ideas you’re about to read. This information will help you learn how car insurance companies work and some tips to save money. But Florida consumers must comprehend the way insurance companies determine premium rates.
Subaru Impreza coverage analysis
The rate information displayed below covers different insurance costs for Subaru Impreza models. Having insight into how policy rates are calculated is important for making smart choices when selecting a coverage provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Impreza 2.5I 4WD Station Wagon||$226||$352||$438||$26||$132||$1,174||$98|
|Impreza 2.5I 4WD Station Wagon||$226||$352||$438||$26||$132||$1,174||$98|
|Impreza Outback Sport 4WD Station Wagon||$226||$430||$438||$26||$132||$1,252||$104|
|Impreza 2.5I AWD 4-Dr||$254||$430||$438||$26||$132||$1,280||$107|
|Impreza 2.5I Premium Package AWD 4-Dr||$254||$506||$438||$26||$132||$1,356||$113|
|Impreza WRX 4WD Station Wagon||$254||$506||$438||$26||$132||$1,356||$113|
|Impreza 2.5 GT 4WD Station Wagon||$284||$506||$438||$26||$132||$1,386||$116|
|Impreza WRX AWD 4-Dr||$284||$582||$438||$26||$132||$1,462||$122|
|Impreza 2.5I GT AWD 4-Dr||$284||$582||$438||$26||$132||$1,462||$122|
|Impreza WRX STI 4WD Station Wagon||$284||$582||$438||$26||$132||$1,462||$122|
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Premium data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, safe-driver, and claim-free. Price information does not factor in specific garaging location which can raise or lower insurance rates greatly.
The example below highlights how deductible choice and can raise or lower Subaru Impreza insurance premiums for different categories of driver ages. The price estimates are based on a married female driver, comp and collision included, and no additional discounts are factored in.
Rate comparison of full coverage and liability-only
The example below shows the comparison of Subaru Impreza premium costs with full coverage compared to only the Florida minimum liability coverage. Data assumes a clean driving record, no at-fault accidents, $500 deductibles, drivers are not married, and no discounts are factored in.
Should you be buying full coverage?
There is no set guideline for phasing out physical damage insurance, but there is a guideline you can consider. If the yearly cost for physical damage coverage is more than around 10% of the settlement you would receive from your company, then you may want to consider only buying liability coverage.
For example, let’s assume your Subaru Impreza claim settlement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $6,000 after paying the physical damage deductible. If you are paying over $600 annually for physical damage coverage, then you might want to think about dropping full coverage.
There are some conditions where buying only liability insurance is not in your best interest. If you still have a loan on your vehicle, you are required to maintain full coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should keep full coverage on your policy.
What Determines Subaru Impreza Insurance Costs?
Part of the insurance buying process is learning some of the things that help determine the price you pay for insurance. When you know what positively or negatively influences your rates, this helps enable you to make changes that may reward you with cheaper rates.
- Limits of liability – Liability insurance will afford coverage if a jury decides you are liable for an accident. It provides for a legal defense to attempt to prove you were not liable. This coverage is very inexpensive when compared with rates for comp and collision, so do not skimp.
- Remove unneeded extra policy coverages – Policies have add-on coverages that you can buy if you aren’t careful. Things like roadside assistance, towing, and motor club memberships may be wasting your money. The coverages may be enticing when you first buy your policy, but if they’re wasting money eliminate the coverages to reduce your premium.
- You may save more by bundling policies – Most larger insurers will give discounts to customers that purchase more than one policy. It’s known as a multi-policy discount. Even with this discount, it’s in your best interest to compare other company rates to make sure you are getting the best deal. It’s possible to still save more without the discount even if you insure with multiple companies
Is your car built for speed? – The performance of the car you need insurance for makes a substantial difference in how high your rates are. The cheapest rates will generally be found on smaller low performance passenger models, but there are many factors that impact the final cost.
The following data assumes a single female driver age 20, full coverage with $500 deductibles, and no discounts or violations. The chart compares Subaru Impreza rates compared to other makes and models that have different risk factors.
- High claims frequency drives up insurance rates – If you tend to file frequent claims, you can pretty much guarantee either higher rates or even cancellation. Car insurance companies in Florida award better rates to insureds that do not abuse their auto insurance. Your car insurance is intended for more catastrophic claims.
- Prevent your car from being stolen – Selecting a car model that has an advanced theft prevention system can get you a discount on your insurance. Advanced theft deterrents such as LoJack tracking devices, vehicle tamper alarm systems or GM’s OnStar system can thwart your car from being stolen.
- Coverage lapses raise rates – Not having insurance is illegal and companies may charge more for letting your coverage have a gap. In addition to paying higher premiums, getting caught without coverage may result in fines or a revoked license.
- The higher your credit rating the lower your costs – Credit score is a big factor in calculating your premium rate. Therefore, if your credit is lower than you’d like, you could pay less to insure your Subaru Impreza if you improve your credit rating. Insureds that have very high credit ratings tend to be better risks to insure than those with poor credit.
Insurance loss data for Subaru Impreza vehicles – Insurers take into consideration historical loss data for every vehicle as a tool for profitable underwriting. Vehicles that have increased losses will cost more to insure. The data below shows the insurance loss data for Subaru Impreza vehicles.
For each type of coverage, the claim probability for all vehicles combined as an average is set at 100. Numbers shown that are under 100 imply a favorable loss record, while values over 100 point to more losses or an increased probability of a larger loss.
Subaru Impreza Insurance Claim Statistics Specific Subaru Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Subaru Impreza 4WD 96 80 110 79 78 81BETTERAVERAGEWORSE
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Get the best coverage at the best price
There are still a few companies who may not offer online price quotes and most of the time these small insurance companies sell through independent agents. More affordable car insurance in Miami is available from both online companies in addition to local insurance agencies, and you should compare price quotes from both to have the best rate selection.
Insureds leave their current company for many reasons like questionable increases in premium, high rates after DUI convictions, delays in paying claims and poor customer service. No matter why you want to switch, finding a great new company can be easy and end up saving you some money.
We just showed you a lot of ways to shop for Subaru Impreza insurance online. It’s most important to understand that the more you quote Miami auto insurance, the better likelihood of getting the cheapest Subaru Impreza rate quotes. You may even find the lowest auto insurance rates are with a company that doesn’t do a lot of advertising.
- Auto Insurance Facts and Statistics (Insurance Information Institute)
- How Much are Miami Auto Insurance Rates for Immigrants? (FAQ)
- What Auto Insurance is Cheapest for Drivers Over Age 70 in Miami? (FAQ)
- Who Has Cheap Miami Auto Insurance Quotes for Homeowners? (FAQ)
- Drunk Driving Statistics (Insurance Information Institute)
- Hybrid vehicles cost insurers more (Insurance Institute for Highway Safety)
- All About Airbag Safety (State Farm)
- What to do at the Scene of an Accident (Insurance Information Institute)