If you are picking a Florida auto policy and do not know where to spend, here is the honest answer up front. Uninsured motorist (UM) coverage matters more than anything else on that policy, because it is what pays you when the other driver has no insurance or nowhere near enough, and plenty of Florida drivers fall in that group. Collision and comprehensive coverage does something different: it repairs your own vehicle no matter who caused the crash, and raising the deductible lowers what you pay each year. What the whole policy costs comes down to your driving record, how many miles you drive a year, the vehicle itself, and your age. Without UM on the policy you do not really have full coverage, whatever the quote calls it.
I am Mark Hirsch, and I handle car accident cases in Florida, which means I read a lot of policies after the crash instead of before it. The worst call to take is the one where the client did everything right, another driver caused the whole thing, and there is no coverage left to reach. By the end you will know how to read the four things that set your premium, what the damage coverage on your own car actually pays for, how a higher deductible changes the math, and why UM is the line I would protect first.
Key takeaways
- Uninsured motorist coverage is the line that matters most in Florida, since it covers you when the other driver cannot.
- Leave UM off and the policy is not full coverage, however the quote is labeled.
- Damage coverage on your own vehicle pays to repair it whether or not the crash was your fault.
- A higher deductible lowers the yearly premium, but you carry more of the repair bill when something happens.
- Four things move the price the most: driving record, yearly mileage, the type of vehicle, and your age.
- Coverage and pricing vary by company, so compare the actual policy language and not just the price.
First off, the cost of car insurance differs for everyone.
Some of the main factors are:
- Driving Record
- Annual Mileage
- Type of Vehicle
- Age
We will assume an average person in their 30’s who owns an average car and house.
Collision/Comprehensive Coverage Collision/Comprehensive coverage covers damage to your vehicle regardless of who is at fault.
The cost would be around $875 a year for a new model vehicle at approximately $40,000 with a $500 deductible.
The person can save money if they take a $1000 deductible, spending $711.00 a year.
If the driver goes 3 years and a month with no accident, you save money.
Uninsured Motorist Coverage Uninsured Motorist (UM) is the most important coverage; it provides protection if the other vehicle does not have insurance or not enough insurance.
Since most people in Florida have no insurance or minimal insurance, this is the most important coverage.
If you do not have UM, you do not have full coverage. In the example above, the UM is only $174.00 more a year.
Disclaimer: Insurance policies differ for each company and the information above may not be 100% accurate.
This is general information, not legal advice; consult an attorney about your situation.