Who Has the Cheapest Car Insurance Rates in Orlando?

Orlando is world renowned for its incredible resorts and theme parks. Drivers from across the globe flock to this mid-sized city of 285,000 seeking fun on their family vacations. Along with the economic benefits they represent, they contribute to traffic, including auto accidents. With a median age of 34, Orlando is on the younger side, but it’s 160,000 employees are still more mature than some metro areas. Other statistics may also increase a driver’s premiums such as credit scores, average commute times, and auto theft rates.

In fact, Orlando’s auto theft statistics are not as bad as Miami’s, but they are still in the top 200 worst places for car theft. Orlando is ranked #131 for theft in the United States. In 2018, the Orlando – Kissimmee – Sanford Metropolitan Area reported 6,000 stolen cars, yielding a rate of 240 per 100,000 for the area. Drivers should note that not every auto policy covers damages that result from theft.

Auto policies may also be impacted by Orlando’s average drive times. The 160,000 employees in Orlando commute an average of 25 minutes one-way for work. Given a two-earner household, that home logs an average of 8 hours per week driving to and from work. To that, insurance actuaries may also account for trips to the grocery store, recreation, activities, and other short jaunts. Altogether, an average home might log as many as 15 or more hours on the road per week.

What are the Insurance Requirements in Orlando?

Florida law requires that all drivers carry an insurance policy so that everyone is covered in the event of an accident. The state requires that all policies cover a single person’s bodily injuries up to at least $10,000, with $20,000 available to cover all injuries stemming from the accident. Property damage must also be covered up to at least $10,000, per the law. The figures for uninsured motorists are similar and all of these damages are covered by liability policies.

Liability policies keep drivers legal, but the damage to the drivers vehicle in an accident that they cause are not covered. Drivers with only liability coverage are also inconvenienced when they are the victim of an accident. They often must wait for the at-fault party’s insurance company to settle the claim. However, if they have added collision or comprehensive coverage, a victim can immediately begin making repairs and the insurance companies will settle the matter behind the scenes.

Most Expensive and Least Expensive Insurance Rates by Zip Code

Cheap Car Insurance in Orlando by Insurer

Floridian households all wish to cut their recurring costs for items such as car insurance, utilities, and more. However, cutting costs on insurance isn’t always the best idea. A low-cost policy might mean lower levels of customer service, poor claims coverage, and lackluster insurance bundling options. Drivers should investigate their insurer for their overall reputation as well as bundles, discounts, and general costs associated with the coverage they are seeking.

Use our pro guide to find the best cheap car insurance quotes.

Low Cost Auto Insurance for Bad Credit in Orlando

Florida is one of the 47 states in the union that allows insurance companies to charge more to credit challenged customers. Debt-ridden customers can pay as much as $2,400 more than those with excellent credit. In fact, a customer with a poor financial record can pay $1,500 more than a driver with a DWI, but excellent credit. These inflated prices are known to apply to new customers who have poor credit, so their companies might reduce their rates in the future in accordance with good driving habits and regular, on-time premium payments.

Learn how your credit score determines your car insurance premiums.

Full Coverage Vs. Liability Coverage

What is Liability Only Coverage?

Liability-only policies cover any damage you do as a driver, or which results from your automobile. These policies meet the minimum requirement for drivers in Fresno, California and are generally the cheapest. That is because the policy does not cover your car. Thus, if an uninsured driver hits your car, and is at fault, any damage you incur must be repaired at your expense. You will also be unable to make a claim if your car is damaged due to weather or as a result of some other non-driving incident.

What is Full Coverage?

Full coverage is not a category used by insurance companies. Rather, it is a colloquial term used to describe policies that cover both you and other drivers. Thus, if you are in a collision with an uninsured motorist, you can make a claim to repair damage to your car. If your car is injured by some other sort of accident or even vandalism, you can claim those repairs, too.

When you purchase a car on a financing plan, your lender will probably insist that you cover the car with a comprehensive policy that will cover any damage. Even if you purchase a car outright you might want to purchase a comprehensive policy so that your beautiful car remains pristine for as long as possible.

Difference Between the Two Types of Coverage

The main difference between having liability and full coverage insurance is that liability insurance will only pay for injuries to others and their damages that resulted from an accident where you were at fault, where full coverage will not only pay for the damages and injuries done to others but will also cover your injuries and auto damages that resulted from an accident that you caused as well.

Average Annual Car Insurance Rates in Florida by City

Additional cities in Florida you can check out.

St. Petersburg

Car Insurance Discounts to Lower Your Policy Rates

There are many car insurance discounts and ways to save on your policy in Orlando:

  • Shop around –

    As you can see from these few examples, the rates insurers charge for the very same driver demographics can vary incredibly. The television commercials by the insurers tell us we can save hundreds of dollars on automobile insurance. Actually, you could save a thousand or more dollars on your insurance each year.

  • Drive defensively –

    If you can stay out of accidents and don’t accrue moving violations, you can save a lot of money on your automobile insurance. People with too many accidents and moving violations have trouble getting insured at any rate.

  • Drive an older car –

    If you have a car that is too old and not worth enough to carry collision insurance, you can save quite a bit of money. This especially applies to younger drivers whose insurance costs are much higher. If they can drive an older vehicle that would just require liability insurance and maybe some inexpensive comprehensive insurance, they can save at least a thousand dollars or more on insurance.

  • Buy collision insurance with a high deductible rate –

    The higher deductible rate you can tolerate in the event of a collision and the need to repair your vehicle, the lower your collision insurance cost will be. Your collision insurance rate will be really high if your deductible is only around $500. If you can tolerate $1,500 or so, you can save quite a bit of money on this portion of your annual insurance rate.

  • Bundle your home and automobile insurance policies –

    If you can buy your automobile and home insurance from the same company, you will likely save money. Most insurers offer a substantial discount for having your home and auto policy with them.

Are you looking for car insurance discounts? Learn more here.

Orlando, FL Car Insurance Premiums Cost – What Affects Your Rates?

As you can see, car insurance rates are influenced by a complex set of factors, all of them are determined by risk data for each insurance agency. How much each agency charges, though, based upon similar risk data, can vary widely. In the case of younger drivers, they can save literally thousands of dollars each year by shopping around. The insurance agencies will charge drivers different rates for their automobile insurance premiums by their age and marital status, driving record, area they live in, and whether they carry liability-only or full coverage insurance. If the customer opts for collision insurance, the carriers will charge more for a lower deductible.

Since there are so many factors to take into consideration in how much an insurance agency charges you for automobile insurance, it quite literally pays to thoroughly educate yourself about automobile insurance and to shop around for the best quote.

Learn how a bad driving record can affect your car insurance rates.

Helpful Orlando, Florida Vehicle Resources:

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DMV (Find Locations, Vehicle Registration, Titles and Insurance Info)


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