Why Should Florida Residents Shop Their Auto Insurance Every 6 Months?
Posted on October 29, 2018
Your car insurance policy is supposed to save you money in the case of an accident, but it hardly feels like it when you see the monthly invoice from your insurance company.

Finding better rates in Florida, however, can ease the pain of paying that premium—especially if the coverage is as good or better. One way to be sure that you’re getting the best auto insurance rates in Florida is to shop every six months. 

While this may seem counterintuitive—especially since auto policies are issued annually—there are some very good reasons why you should consider shopping more frequently.

The fact is, if your credit score has recently improved, or if you’ve gotten married or moved in the last few months, you may be a candidate for cheaper car insurance. There are many other factors that determine your annual premium, so even if none of the above apply, you may still want to check your options.

Let’s face it, no one gets excited at the prospect of shopping for auto insurance quotes in Florida. However, it does not have to be a struggle. Easy to use websites have made the process fairly simple. And even if you don’t find less expensive insurance this time, checking back in six months may yield a completely different result.

Let’s take a look at some of the reasons why you should consider shopping for insurance every six months.

1. Traffic violations are no longer on your record

Even a single speeding ticket can raise your insurance rates, so make sure you know how long those infractions will stay on your driving record. When your record clears up, consider shopping around for new insurance.

2. Rates may change

Insurance carriers frequently change their rates, so by shopping every six months, you may be able to take advantage of the best pricing. Keeping an eye on pricing in this way, and purchasing insurance when rates are suppressed could put an extra hundred dollars or more in your pocket.

3. Your credit score improves

Your credit score is calculated using many different factors, but auto insurance companies in Florida choose the parts they believe are the most important (different for every carrier) and create a score used to help determine a rate. 

Generally speaking, a better credit score can lead to a cheaper rate. In Florida, your credit score can affect your insurance premiums by well over 50%! 

4. A life event may get you a cheaper rate

Moving into a new house in a different zip code, starting a new job, or even getting married can all affect your insurance rates. Insurance carriers have access to vast actuarial tables to help underwriters uncover patterns. 

For example, one zip code may have a markedly lower rate of auto accidents vs. a neighboring zip code, and the insurance rates would reflect that. So, by moving to a different zip code—even within the same city—means you may get a more favorable rating.

Likewise, actuarial data often shows that married people and college graduates tend to have fewer automobile accidents and enjoy better insurance rates. Also, if you get a new job and the commute is shorter, your rates may go down.

If you do find cheaper car insurance, check to make sure you will get a refund from your existing insurance company if you terminate the policy early. If not, you may want to wait until renewal time before shopping. 

Are you ready to shop your auto insurance? Contact us today to speak with a licensed auto insurance agent. Get a free quote now.

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