Sick and tired of wondering where the money will come from to pay auto insurance each month? You have the same problem as many other Florida consumers.
It goes without saying that insurance companies don’t want you comparing rates. People who shop around for cheaper prices are inclined to buy a new policy because the odds are good of finding discount prices. A recent survey revealed that consumers who routinely shopped around saved an average of $3,400 over four years compared to people who never compared prices.
If finding the cheapest price for insurance is the reason you’re reading this, understanding how to shop for insurance coverage can make the process more efficient.
Due to the abundance of different company options, it can be difficult for people to find the most cost effective company.
Finding the cheapest car insurance coverage in Tampa is really not that difficult. Virtually everyone who is required to buy car insurance should find a lower price. Nevertheless, Florida consumers can benefit from knowing the way companies calculate your policy premium and use this information to your advantage.
Cheap Tampa auto insurance rates with discounts
Auto insurance companies don’t always advertise all possible discounts very clearly, so below is a list some of the best known and the harder-to-find ways to save on auto insurance.
- Waiver for an Accident – This one is not really a discount per se, but certain companies will allow you to have one accident without getting socked with a rate hike if you are claim-free before the accident.
- Discounts for Government Workers – Federal government employees can earn a discount up to 10% depending on your company.
- Discount for Life Insurance – Companies who offer life insurance give a break if you buy life insurance.
- Discount for Home Ownership – Just being a homeowner may earn you a small savings because owning a home is proof that your finances are in order.
- Discount for Passive Restraints – Cars that have air bags may earn rate discounts of 20 to 30 percent.
- Good Student – This discount may save you up to 25%. The good student discount can last well after school through age 25.
- 55 and Retired – If you qualify as a senior citizen, you may qualify for a small discount on rates.
- Use Seat Belts – Requiring all passengers to fasten their seat belts can save 10% or more on the medical payments or PIP coverage costs.
We need to note that some credits don’t apply to the entire cost. Most only reduce the cost of specific coverages such as comp or med pay. So when the math indicates all the discounts add up to a free policy, auto insurance companies aren’t that generous.
A list of auto insurance companies and a selection of discounts are included below.
- State Farm has discounts for Drive Safe & Save, good student, defensive driving training, multiple autos, student away at school, good driver, and anti-theft.
- GEICO may include discounts for anti-theft, membership and employees, daytime running lights, military active duty, anti-lock brakes, multi-vehicle, and five-year accident-free.
- Allstate discounts include auto/life discount, safe driver, early signing, utility vehicle, and 55 and retired.
- SAFECO policyholders can earn discounts including teen safety rewards, safe driver, accident prevention training, anti-theft, and anti-lock brakes.
- Farm Bureau offers discounts including multi-policy, multi-vehicle, renewal discount, youthful driver, and 55 and retired.
- Progressive offers discounts for multi-vehicle, good student, multi-policy, continuous coverage, and online signing.
- AAA may offer discounts for good student, education and occupation, AAA membership discount, pay-in-full, and good driver.
When getting free Tampa auto insurance quotes, it’s a good idea to every prospective company which discounts they offer. All car insurance discounts might not apply everywhere.
When looking for affordable BMW M2 insurance quotes, there are a couple ways to get quotes from different companies. The easiest way to find competitive insurance rates is to use the internet to compare rates.
It’s so simple to compare insurance rate quotes online makes it a waste of time to physically go to insurance agencies in your area. The ability to buy insurance online eliminates the need for an insurance agent unless you have a complicated situation and need the trained advice of a local agency. If you prefer, some companies allow you to comparison shop your insurance online and still use a local agent.
When quoting insurance, remember that comparing more rates from different companies helps locate a better price. Not every company provides price estimates online, so it’s important to also get rates from them as well.
The car insurance companies shown below are our best choices to provide quotes in Tampa, FL. To find cheap car insurance in FL, we recommend you visit several of them to get the most affordable price.
Which policy gives me the best coverage?
When it comes to choosing insurance from an agent or online, there really is no perfect coverage plan. Coverage needs to be tailored to your specific needs so your insurance should reflect that For example, these questions may help highlight whether or not you might need professional guidance.
- Can my teen drive my company car?
- Is other people’s property covered if stolen from my vehicle?
- Am I covered if hit by an uninsured driver?
- Does my BMW M2 qualify for pleasure use?
- What if I don’t agree with a claim settlement offer?
- Do I need higher collision deductibles?
- What policy terms are available?
If you’re not sure about those questions but a few of them apply, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, complete this form or you can go here for a list of companies in your area.
Car insurance agents can help
A small number of people still like to talk to an insurance agent and doing that can be a smart decision A nice benefit of comparing rate quotes online is that you can find lower car insurance rates and still choose a local agent.
Upon completion of this form (opens in new window), the quote information is sent to participating agents in Tampa who will return price quotes for your insurance coverage. You never need to find an agent on your own since rate quotes are delivered to you. You can find better rates without requiring a lot of work. If you wish to compare prices for a specific company, feel free to jump over to their website to submit a rate quote request.
Choosing the best insurer is decision based upon more than just a low price. Get answers to these questions too.
- Do they receive special compensation for putting your coverage with one company over another?
- Are there any discounts that you might be missing?
- Do the coverages you’re quoting properly cover your vehicle?
- Will your rates increase after a single accident?
- Can they help ensure a fair claim settlement?
- Can glass claims be handled at your home?
- Do they have 24-hour customer assistance?
- How does the company pay claims for a total loss?
If you receive satisfactory answers to any questions you have and locked in a price quote, you may have found an provider that is professional and can properly insure your vehicles. Keep in mind once you purchase a policy you can cancel your coverage when you choose so never assume you are locked into any specific agency for the entire policy term.
Three reasons to not skimp on insurance
Even though it can be expensive, buying insurance may be mandatory for several reasons.
First, most states have mandatory insurance requirements which means state laws require specific limits of liability insurance in order to get the vehicle licensed. 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 lien on your car, almost all lenders will require that you have full coverage to guarantee loan repayment. If you cancel or allow the policy to lapse, the lender may insure your BMW for a lot more money and force you to reimburse them the higher premium.
Third, insurance preserves not only your vehicle but also your financial assets. It also can pay for most medical and hospital costs for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, will also pay to defend you in the event you are sued. If mother nature or an accident damages your car, your insurance policy will cover the damage repairs after a deductible is paid.
The benefits of carrying enough insurance outweigh the cost, especially when you need to use it. An average driver in America is overpaying more than $865 each year so compare rates each time the policy renews to help ensure money is not being wasted.
Educate yourself about auto insurance coverages
Learning about specific coverages of a auto insurance policy helps when choosing appropriate coverage for your vehicles. Auto insurance terms can be impossible to understand and reading a policy is terribly boring. Shown next are typical coverages available from auto insurance companies.
Insurance for medical payments
Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for funeral costs, dental work, ambulance fees and doctor visits. They are often utilized in addition to your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants in addition to getting struck while a pedestrian. Personal Injury Protection is only offered in select states but can be used in place of medical payments coverage
Collision protection
Collision coverage covers damage to your M2 from colliding with another car or object. You first must pay a deductible then your collision coverage will kick in.
Collision coverage protects against claims such as scraping a guard rail, colliding with another moving vehicle, sideswiping another vehicle, damaging your car on a curb and sustaining damage from a pot hole. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. Another option is to raise the deductible on your M2 to save money on collision insurance.
Comprehensive coverage (or Other than Collision)
This will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive can pay for claims like fire damage, a tree branch falling on your vehicle and damage from a tornado or hurricane. The maximum payout a auto insurance company will pay at claim time is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Liability car insurance
This coverage will cover damages or injuries you inflict on other people or property. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 10/20/10 which stand for $10,000 bodily injury coverage, $20,000 for the entire accident, and $10,000 of coverage for damaged property.
Liability coverage protects against claims such as repair bills for other people’s vehicles, legal defense fees, structural damage, pain and suffering and medical services. How much coverage you buy is a decision to put some thought into, but it’s cheap coverage so purchase as high a limit as you can afford. Florida state minimum liability requirements are 10/20/10 but it’s recommended drivers buy more liability than the minimum.
The next chart shows why low liability limits may not be adequate.
Uninsured Motorist or Underinsured Motorist insurance
Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family and damage to your BMW M2.
Due to the fact that many Florida drivers only purchase the least amount of liability that is required (Florida limits are 10/20/10), their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.
Smart shoppers get results
As you restructure your insurance plan, don’t be tempted to reduce coverage to reduce premium. There are many occasions where drivers have reduced liability limits or collision coverage only to regret that the small savings ended up costing them much more. The aim is to purchase a proper amount of coverage for the lowest cost while still protecting your assets.
Lower-priced BMW M2 insurance in Tampa is attainable both online and with local Tampa insurance agents, and you should compare price quotes from both to get a complete price analysis. Some auto insurance companies may not provide online price quotes and usually these smaller companies sell through independent agencies.
Steps to finding cheaper BMW M2 insurance in Tampa
It takes a few minutes, but the best way to get more affordable car insurance rates is to regularly compare price quotes from providers in Tampa. Rates can be compared by completing these steps.
First, read about auto insurance and the modifications you can make to prevent high rates. Many risk factors that cause high rates such as accidents, careless driving, and a not-so-good credit history can be improved by paying attention to minor details.
Second, compare price quotes from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can give quotes from a single company like GEICO and Allstate, while independent agencies can provide rate quotes for a wide range of companies. Begin your rate comparison
Third, compare the new rate quotes to the price on your current policy and determine if cheaper M2 coverage is available. If you find a lower rate and switch companies, verify that coverage does not lapse between policies.
The key thing to know about shopping around is that you’ll want to compare similar coverage information on every quote and and to get price estimates from as many car insurance companies as possible. Doing this ensures an apples-to-apples comparison and a thorough selection of prices.
More detailed auto insurance information can be found in the articles below:
- Coverage Information (Progressive Insurance)
- What Car Insurance is Cheapest for Drivers with Accidents in Tampa? (FAQ)
- How Much is Auto Insurance for 4×4 Vehicles in Tampa? (FAQ)
- Who Has Affordable Car Insurance Quotes for a Toyota Corolla in Tampa? (FAQ)
- Who Has Cheap Auto Insurance Rates for Hybrid Vehicles in Tampa? (FAQ)
- Who Has Cheap Tampa Auto Insurance for a Toyota Tacoma? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Teenage Females in Tampa? (FAQ)
- What Auto Insurance is Cheapest for Uber Drivers in Tampa? (FAQ)
- Which Company has the Cheapest Car Insurance in Tampa, FL? (FAQ)
- Electronic Stability Control FAQ (iihs.org)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)
- What does Personal Injury Protection (PIP) Cover? (Allstate)