Factors That Impact The Cost Of Your Car Insurance Policy In Fort Lauderdale
The cost of your auto insurance in Fort Lauderdale is influenced by various factors, including:
State Requirements: Your policy must meet Florida’s minimum coverage demands, which include $10,000 in damage liability and $10,000 in personal injury protection (PIP).
Age: Younger drivers often face higher rates due to their inexperience and higher accident likelihood. Rates generally decrease after turning 25.
Car Make and Model: Safer vehicles translate to lower rates. Insuring a modern Toyota Corolla is more affordable than a Chevrolet Corvette.
Driving Record: Previous accidents and traffic violations can lead to significant rate hikes, as they indicate a higher likelihood of future claims.
Annual Mileage: Lengthy commutes typically result in higher rates compared to less frequent drivers.
Credit History: Higher credit scores often correlate with lower rates, as individuals with better scores tend to file fewer claims.
Location: Your work and overnight parking locations impact your rates, potentially leading to discounts or rate adjustments based on the risk of vandalism or damage.
Marital Status: Married drivers usually enjoy lower rates compared to single drivers.
Gender: Around age 45, men tend to pay about 6% less than women of the same age. However, this gender difference evens out for drivers in their 30s.