Although high-risk insurance for auto can be costly, Florida’s high-risk insurance can seem excessive. Florida is home to a larger population than other states and has more claims and crashes than any other state. The average U.S. death rate per 100,000 people is 11. It’s currently 14.8 in Florida.
The state had 401 867 crashes in 2019. 2.951 people died in those crashes. This includes 12% who were injured due to drinking. Of all the age groups, 16% involved teenage drivers.
What is a high risk driver? An insurance company considers a high-risk driver someone who is more likely to file an insurance claim in the future due to their credit history, age, or past history. These drivers are charged more for car insurance because of this.
Florida rates for high-risk auto insurance
These rates are based upon average increases following certain violations. Your driving record and severity of the violation will determine how much you pay. A DUI is more severe than a speeding ticket. However, 10 miles per hour over the speed limit is still not as serious as 20.
Rates for speeding tickets
After a speeding ticket, drivers typically notice a significant increase in their premiums. The amount of the increase will depend on the speeding ticket and your driving record. Because speeding is a leading cause of accidents and claims in the country, premiums are often influenced by speeding tickets.
Pay attention to the difference in percentages between companies. Some companies are more expensive after a violation than others. However, some companies may be cheaper before a violation occurs. You should do your research before you choose your provider.
Rates for an accident
There are many kinds of accidents. There are:
- Fender benders
- Extreme property loss
- Property damage and medical injuries
- Property damage and medical injuries that result in death or property loss
- Death/injury to a pedestrian
- Death/injury to cyclists
How severe your accident was will determine how much you will see an increase. Did you speed, drive distracted or drink? Remember that your driving record, including any past speeding or at-fault accidents, will be a significant factor in determining the severity of this problem.
Florida drivers will pay 5-17% more per year for car insurance after an accident, depending on the provider.
Rates for DUI
An SR-22 or FR-22 may be required for a DUI in Florida. Both will prove to the state that your insurance is correct. However, an FR-44 will require you to have double liability.
When calculating your new premium following a DUI, insurance companies will consider your driving record. Keep in mind, however, that in Florida, it is legal for an insurance company to cancel your policy entirely (in other states, they must wait until you renew).
These increases are more severe if there is another DUI arrest, or a crash while intoxicated.
Teen drivers: Rate
High-risk drivers are teens for many reasons. Teens are considered high-risk drivers because they have less driving experience and are more likely to make poor decisions like speeding or using their phone. According to the CDC, 7 teens are killed in car crashes each day. In addition, Americans lost $11.8 billion in medical expenses and work losses due to injuries sustained in accidents involving teenagers in 2018. It’s something that insurance companies take very seriously.
Below is a table that shows how much it costs to add a 16-year-old to their parent’s insurance policy.
Many companies offer discounts for teens, including away school, good student and defensive driving classes. You can also reduce your expenses by using other strategies, but the best thing is to ensure that your teenager has good driving habits and a clean driving record.
Who are high-risk drivers?
High risk drivers are usually those who have one or more of these:
- Speeding tickets
- At-fault accidents
- Living in an area of high risk
- Teen driver
- DUI
- Bad credit
- Coverage gaps
Their insurance company believes they will file a claim in future. This is why they charge them more.
A high-risk driver is one who cannot get coverage from their preferred carrier. This is the industry’s definition. This may be true in some cases, but it can also be false in others. Florida drivers who have high-risk insurance on their autos will pay more for the same coverage, but it’s possible that their carrier might drop them entirely after a serious violation.
How to lower your rate for high-risk drivers
Florida high-risk car insurance usually means that you will pay more. You might still be able find a lower rate.
- Compare your options: Car insurance companies have different rates. Getting multiple quotes will help you get a better understanding of your options.
- Compare discounts: While many insurance companies offer the same discounts, some companies will offer more savings than others. Bundling with Geico can save you up to 25%, while most companies offer only 10%.
- Older cars are more affordable to insure and replace, so it is a good idea to drive an older car. You can save money by choosing an older vehicle with a high safety rating.
- Your credit score should be higher: A lower credit score is more likely to file an insurance claim than someone with a good credit rating. Your credit score should be higher and your premium should drop.
Driving safely is the best thing you can do to protect your premium. Drink and drive responsibly, get out of the car early and obey all traffic laws. You will be able to keep your record clean while your insurance company renews your policy.
Questions frequently asked
What is the average price of car insurance?
The average cost for car insurance in the U.S. for full coverage is $1,674 per year and $565 for minimum. It’s $2,364 full coverage and $1,101 minimum in Florida.
Which Florida insurance company is best?
There is no one insurance provider that will offer the best car coverage for everyone. Some carriers are more appealing than others due to the individual’s driving record, their location and personal preferences.
