Which Company Has the Lowest Cost of Car Insurance in Hollywood?

Hollywood, FL is an ocean-front, northerly suburb of Miami that sits just to the south of Fort Lauderdale. With a growing population of around 150,000, Hollywood is a mid-sized city with a median age of 42. Hollywood has an aging population, feeding Florida’s reputation as a retirement haven, and making it possible that residents may see an overall reduction in their auto insurance premiums since insurance companies often look at more mature adults as less of a risk.

Despite the older average age, households in Hollywood still commute to work in large numbers and the average commute time for the city’s 76,000 employees is 28 minutes one-way, almost exactly equal to the national average for commuters. Thus, a two-employee, two-car household logs an average of 9.3 hours per week driving to and from work. When trips to the beach, social gatherings, and weekend errands are factored in, a typical household might log upwards of 11 hours of drive-time per week. These high travel times might negatively impact a household’s insurance premiums since, the longer a driver spends on the road, the more likely they are to be in an accident.

Drivers in Hollywood should also be aware that their metro area is in the nation’s top 100 for auto theft. In fact, the Miami-Fort Lauderdale metro area ranks at #72 nationwide, reflecting over 20,000 thefts in 2018 and an overall theft rate of 323. When paired with the areas propensity for hurricanes and other weather events, drivers may want to consider a more robust auto insurance policy.

What are the Insurance Requirements in Hollywood?

Florida, like most states, requires that every driver purchase an automobile insurance policy. This is to ensure that everyone is covered for any and all property and bodily damage they may cause as an at-fault driver or incur as an accident victim. The state only requires that drivers carry a liability policy. These policies cover the victim’s damage in the event of an accident. Liability policies are mandated to cover both property damage as well as medical bills up to a certain minimum. In fact, Florida’s minimum coverage only covers $10,000 in property damage per accident, where many other states require twice that amount.

Since liability only covers damage that a driver causes to another person or driver, it’s recommended that drivers purchase more robust insurance policies, especially considering that, in the event a vehicle is totaled, the minimum in property damage won’t cover half the cost of most new vehicles. With a collision or comprehensive policy, damage arising from theft, weather, or other sources is more easily covered. Further, if an accident victim has a higher level of coverage, they needn’t wait for the other driver’s insurance to settle the claim. They can make a claim on their own policy and their company will seek compensation from the at-fault driver’s company.

Most Expensive and Least Expensive Insurance Rates by Zip Code

Cheap Car Insurance in Hollywood by Insurer

The following chart details the lowest cost insurance companies in Florida. While every driver and their household wish to reduce monthly bills, such as insurance premiums, other factors should also be considered. A driver might reap overall savings with a company that is open to bundling other polices with their auto coverage. Even slightly more expensive policies might also come with improved customer service and other positives that drivers will be thankful for if an accident does occur.

Compare cheap auto coverage quotes by state.

Low Cost Auto Insurance for Bad Credit in Hollywood

Florida, like most states, allows insurance companies to raise premium rates on drivers who have poor credit scores. In fact, these rates are significantly higher for those with poor credit, even when compared to drivers with a DWI. For example, a driver with excellent credit but a DWI can pay over $1,000 less than a terrific driver with debt problems.

Use our bad credit guide to find companies that offer lower premiums for bad credit drivers.

What is the Difference Between Full Coverage and Liability?

What is Liability-Only?

Liability-only coverage means that you are only paying to cover the cost of damage that you do to other people and their property in the event you are at fault in an accident. It covers the costs of medical bills for people you injure or repair costs for property you damage.

It is a good idea to carry more liability insurance than these minimum amounts required by the state of Florida because you will be personally financially liable if you are in an accident and cause more damage to people or property than the state’s minimum required coverage levels.

What is Full Coverage Car Insurance?

Full coverage insurance not only covers the cost of the people and things you might harm when you are in an accident that is your fault. It also covers the cost of any repairs that your property or vehicle might need if you are in an accident that is your fault.

There are two main types of coverage beyond liability coverage:

Collision – This type of insurance covers the cost of repairs to your vehicle or your property that you might damage in an accident in which you are at fault.

Comprehensive – This type of insurance covers the repair costs for your vehicle when one of those unusual things happen that are outside of your control, like weather-related damage to your vehicle, theft, vandalism, and deer stepping in front of your vehicle as you drive.

What is the Difference Between the Two Types of Car Insurance?

Liability and Full coverage policies have many distinctions but the chief one is that under a liability policy your car is not covered. If you are in an accident and are found at-fault, your liability policy will cover the other driver and her passengers. A full coverage policy, on the other hand, covers damage done to your car as a result of a wide range of accidents, even if you are at-fault. These policies also differ when it comes to premium payments.

Average Annual Car Insurance Rates in Florida by City

Additional cities in Florida you can check out.

Utilize These Auto Insurance Discounts to Get a Lower Rate

Save on Your Insurance Policy Rates With These Discounts in Hollywood:

  • Raise your deductible

    If you are willing to pay more money for a deductible, in the event of an accident, then you can lower your insurance rates substantially. You can lower your premium to around 10% just by raising your deductible to around $1,000.

  • Drop Collision Coverage on Old Cars

    Dropping collision coverage on older cars can really help save you a lot, especially for cars that are more than ten years old and only worth four or five thousand dollars. Think about it, if you have an accident while driving an older car, are you really going to pay to repair it or just buy a new car?

  • Check Insurance Rates for Your Car’s Make and Model

    The make and model of your car can make a big difference in how much you pay for auto insurance. Therefore, before purchasing a new car, be sure and check the insurance rates for it as some can be much higher than others.

  • Shop Around to Check Rates from Numerous Insurance Companies

    The chart in this article should be enough proof to know that there can be a big difference in what various insurance companies charge for auto insurance. That is why it is a good idea to check rates from a number of insurance companies before deciding which plan to choose.

  • Drive Fewer Miles

    One of the questions asked when applying for auto insurance rates, is how many miles you drive regularly. This is because the more miles you drive, the more risk you are to the insurance company and the higher your insurance cost will be. Try to drive fewer miles, if possible, to save more money on your premiums.

  • Maintain a Good driving record

    Being a safe driver can not only save your life, but it can also save you a lot of money, too. There is a big difference in how much people with accidents on their record have to pay, and what those without any accidents pay. Therefore, always drive safely.

  • Live in a less populated area

    Your location matters when it comes to auto insurance rates. If you live in a highly populated area, your rates will be higher than if you live in a lower-population area. The Jefferson and New Orleans areas have some of the highest rates in Louisiana, but if you live just 30 minutes outside of the city, you can expect your rates to go down.

Not sure which discounts you may qualify for, consult this guide to learn more.

These are the Common Reasons for Insurance Rates in Hollywood

  • Gender
  • Marital Status
  • Age
  • Number of Violations
  • Credit Report/Score
  • Location
  • Driving Record
  • Insurance Company
  • Make and Model of your car
  • Your Insurance Plan
  • How many cars you have insured
  • Your Occupation
  • Miles you drive per year

Find the best insurance rates with tickets and accidents using this guide.

Helpful Hollywood, Florida Vehicle Resources:

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