Cheap Kia Optima Insurance in Tampa

The preferred way to find lower priced Kia Optima insurance in Tampa is to start doing a yearly price comparison from providers that insure vehicles in Florida. Rates can be compared by following these guidelines.

1. Spend some time learning about the coverage provided by your policy and the steps you can take to keep rates low. Many policy risk factors that cause rate increases like speeding tickets, careless driving and a lousy credit rating can be controlled by being financially responsible and driving safely.
2. Get rate quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only quote rates from one company like GEICO or Farmers Insurance, while independent agencies can provide prices from multiple insurance companies.
3. Compare the new rate quotes to your existing coverage to see if cheaper Optima coverage is available. If you find a lower rate quote and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.

The key thing to know about shopping around is that you’ll want to make sure you compare the same physical damage deductibles and liability limits on every price quote and and to analyze all possible companies. This guarantees a fair price comparison and a thorough selection of prices.

It’s well known that car insurance companies don’t want customers comparing rates. Consumers who shop around for a cheaper policy are inclined to switch to a new company because they have good chances of finding a more affordable policy premium. A recent car insurance study discovered that drivers who did price comparisons regularly saved as much as $3,450 over four years compared to policyholders who don’t make a habit of comparing rates.

If finding the best rates on auto insurance in Tampa is your ultimate target, then having some knowledge of the best way to shop and compare insurance coverage can make it simple to find affordable coverage.

Most companies allow consumers to get price estimates online. Getting Kia Optima insurance prices online is quite simple as you simply type in the coverages you want into the form. After you submit the form their system requests credit information and your driving record and quotes a price based on the information you submitted.

This makes it simple to compare prices and it is imperative to have as many quotes as possible in order to get lower-cost rates.

To save time and find out how much you’re overpaying now, consider comparing rates from the companies shown below. If you have your current policy handy, we recommend you type in your coverages exactly as shown on your declarations page. This makes sure you will have an apples-to-apples comparison using the same coverage and limits.

The following companies are ready to provide quotes in Tampa, FL. To find the cheapest auto insurance in Tampa, we recommend you click on several of them in order to get a fair rate comparison.

Insurance coverage analysis

The data table shown below outlines a range of insurance premium costs for Kia Optima models. Learning how auto insurance policy rates are determined can help you make smart choices when choosing a car insurance company.

Prices based on single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Rates do not factor in specific Tampa garaging location which can change coverage rates greatly.

Where to set your deductibles

The hardest decision when buying coverage is the level to set your comp and collision deductibles. The rates below may help to conceptualize the differences in price of buying low and high deductibles. The first set of rates uses a $100 physical damage deductible and the second rate table uses a $500 deductible.

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-vehicle, homeowner, claim-free, safe-driver, and multi-policy. Price information does not factor in specific garaging location which can change coverage prices significantly.

Based on the above data, using a $100 deductible costs about $30 more each month or $360 annually averaged for all Optima models than selecting the higher $500 deductible. Since you would have to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you tend to average at least 13 months between claim filings, you would probably save some money going with the higher deductible.

The chart below demonstrates how deductible levels and can increase or decrease Kia Optima insurance costs for each different age category. The premiums are based on a single female driver, comp and collision included, and no discounts are factored in.

Responsible drivers pay cheaper car insurance rates

The illustration below illustrates how violations and accident claims raise Kia Optima auto insurance rates for each different age group. The rates are based on a single female driver, full coverage, $100 deductibles, and no discounts are taken into consideration.

Full coverage rates vs. liability-only in Tampa

The example below compares Kia Optima premium costs with and without full coverage. The rate quotes are based on no tickets, no at-fault accidents, $100 deductibles, marital status is single, and no discounts are taken into consideration.

Should you pay for full coverage?

There is no written rule of when to stop paying for physical damage coverage, but there is a general guideline. If the yearly cost of comp and collision coverage is 10% or more of the settlement you would receive from your company, then you may need to consider dropping full coverage.

For example, let’s pretend your Kia Optima claim settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $4,000 after you pay the deductible. If you are paying in excess of $400 annually to have full coverage, then you might consider buying liability only.

There are some conditions where removing full coverage is not a good idea. If you still have a loan on your vehicle, you must maintain physical damage coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not consider dropping full coverage.

Choosing Kia Optima insurance is an important decision

Despite the high insurance cost for a Kia Optima in Tampa, maintaining insurance is mandatory in Florida but it also protects more than you think.

• Almost all states have mandatory liability insurance requirements which means you are required to carry specific limits of liability 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 have a lien on your Kia, almost every bank will require that you have insurance to guarantee loan repayment. If coverage lapses or is canceled, the lender may insure your Kia at a significantly higher premium and force you to reimburse them the higher price.
• Auto insurance preserves both your car and your assets. It will also reimburse you for most medical and hospital costs for you, any passengers, and anyone injured in an accident. One of the most valuable coverages, liability insurance, also pays expenses related to your legal defense in the event you are sued. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will pay to restore your vehicle to like-new condition.

The benefits of buying enough insurance are without a doubt worth the cost, particularly if you ever have a claim. But the average driver in Florida is wasting up to $810 a year so you should quote your policy with other companies once a year at a minimum to ensure rates are inline.

Informed Drivers Can Cut Insurance Costs

Many different elements are part of the equation when you get a price on insurance. A few of the factors are predictable like a motor vehicle report, but other factors are more obscure like your continuous coverage or your commute time. Part of the insurance buying process is learning some of the factors that help determine insurance rates. When consumers understand what determines premiums, this allows you to make good choices that could result in big savings.

• Small claims can cost you – If you’re an insured who likes to file claims you can pretty much guarantee either higher rates or even cancellation. Car insurance companies in Florida generally give lower rates to drivers who do not file claims often. Your car insurance is designed for the large, substantial claims.

• More performance means higher premiums – The make and model of the car, truck or SUV you are buying insurance for makes a substantial difference in your rates. Smaller low performance passenger cars receive the most favorable rates, but many other things help determine your insurance rates.

  The following data uses these assumptions: single male driver age 30, full coverage with $100 deductibles, and no discounts or violations. The chart compares Kia Optima car insurance rates compared to other makes and models that have a range of performances.

• Marriage discount – Having a spouse may earn you lower rates when buying insurance. Having a spouse translates into being more responsible and statistics show married couples file fewer claims.
• Job impacts rates – Careers like military generals, social workers, and medical professionals are shown to have the highest average rates attributed to job stress and lengthy work days. Other jobs like actors, students and performers get better rates.
• Don’t buy extra coverages that aren’t used – Insurance companies have many optional add-on coverages you can purchase on your insurance policy. Insurance for things like rental car reimbursement, towing coverage, and additional equipment coverage may not be needed and are just wasting money. These coverages may sound good when you first buy your policy, but if you have no use for them consider taking them off your policy.

• Kia Optima claim data – Insurance companies use statistical claims data as a tool for profitable underwriting. Vehicles that the statistics show to have a trend towards higher claims will have higher premium rates. The table below demonstrates the collected loss data for Kia Optima vehicles.

  For each policy coverage, the claim probability for all vehicles, regardless of manufacturer or model, is equal to 100. Percentage values below 100 imply a favorable loss record, while percentage numbers above 100 point to more frequent losses or an increased chance of larger losses than average.

  
  

  Kia Optima Insurance Loss Statistics

  Vehicle Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Kia Optima	115	101	107	133	142	120
  Kia Optima Hybrid	143	115	116	139	158	151

  BETTER

  AVERAGE

  WORSE

  Statistics from IIHS.org for 2013-2015 Model Years

Do the work, save more money

People switch companies for many reasons like high prices, policy cancellation, denial of a claim and even poor customer service. Whatever your reason, choosing a new company can be pretty painless.

As you go through the steps to switch your coverage, it’s very important that you do not reduce coverage to reduce premium. There are too many instances where someone dropped liability coverage limits only to regret at claim time that the savings was not a smart move. Your goal should be to purchase plenty of coverage at the best possible price, but don’t skip important coverages to save money.

There are still a few companies who may not provide the ability to get quotes online and many times these small, regional companies work with independent agents. The cheapest Kia Optima insurance in Tampa is definitely available both online as well as from independent agents in Tampa, so compare prices from both to get a complete price analysis.

Additional information is available on the following sites:

• Five Mistakes to Avoid (Insurance Information Institute)
• What Car Insurance is Cheapest for Drivers with Accidents in Tampa? (FAQ)
• Who Has the Cheapest Auto Insurance Quotes for a Chevrolet Silverado in Tampa? (FAQ)
• Automakers compete to add autobraking (Insurance Institute for Highway Safety)
• What is Covered by GAP Insurance? (Allstate)