Driving without the proper automobile insurance is never a good practice. Whether you have an accident or you are pulled over for a traffic violation, not having proof of insurance will turn a bad situation into a worse one. Although automobile insurance is a necessity, a little time spent shopping can make it less of a financial burden.
Average Auto Insurance Rates in Jacksonville, FL
Drivers in Jacksonville, Fl have an advantage over drivers in the rest of the state as far as their average auto insurance rates go. The average paid is over $600 less than the state average of $2,173. However, city drivers will pay about one percent more than the average of rates paid by Duval County residents.
How the Premium is Determined
Insurance rates are all about risk. The insurance company uses complex formulas to evaluate risk based on experience and expectations. They collect information on factors that affect risk. These include such things as the area in which the automobile is driven, the driver’s safety and driving violations history and the make and model of the car to be insured.
Some of the items that affect your insurance premium will be under your control, such as your driving history and credit report. Other factors such as your age and costs of auto repairs in your area will have the same impact on everyone’s rates. Different companies will offer ways to save on your total insurance costs such as combining your auto and home insurance.
What the Policy Covers
Your total automobile insurance cost is going to reflect the types and levels of insurance that you select. Auto insurance requirements in Jacksonville, FL specify that every driver has to carry a minimum of what is described as 10/20/10 liability coverage. This simply provides personal injury coverage of up to $10,000 for an individual and up to a total of $20,000 per accident. The third number indicates coverage of up to $10,000 for property damage.
Beyond the minimums, there are a number of options and coverages that can be purchased to minimize your financial exposure in an accident. The most popular is Personal Injury Protection (PIP) that covers medical expenses for the policyholder and passenger. This insurance can be purchased for various levels and pays regardless of who is at fault.
Other options can include total coverage of the cost of repairing or replacing your vehicle, provision of a rental car and multiple other choices. A major factor in determining the total rate will be the deductible, the amount the policyholder pays before insurance coverage begins.
What the Policy Doesn’t Cover
It is important to choose your auto insurance coverage as much for what it doesn’t cover as what it does insure. When the policy is written, you will be given a number of options, including uninsured or under insured driver coverage. This protects you when the other party in an accident has no or inadequate coverage. The options you choose will basically add to or decrease the risks you assume. The more risk that the insurer assumes, the higher the rates you can expect. To find cheap car insurance in Florida, enter your zip code into the quote box to compare rates.Auto Insurance Guide - A Toolkit for Consumers
Florida's Department of Financial Services
Florida Insurance Council