Factors That Impact The Cost Of Your Car Insurance Policy In St. Petersburg
When determining your auto insurance cost in St. Petersburg, insurance companies consider various factors, including:
State requirements: Your policy should meet Florida’s minimum coverage, which includes $10,000 in damage liability and $10,000 in personal injury protection (PIP).
Age: Younger drivers face higher rates due to their inexperience and greater likelihood of accidents. Rates generally decrease after turning 25.
Car’s make and model: Safer vehicles lead to lower rates. For instance, insuring a late-model Toyota Corolla is more affordable than a Chevrolet Corvette.
Driving record: Previous accidents and traffic violations can substantially raise your rates, as they indicate a higher likelihood of future claims.
Yearly mileage: Long commutes typically result in higher rates compared to those who drive less frequently.
Credit history: Higher credit scores often lead to lower rates, as individuals with better scores tend to file fewer claims.
Zip code: Where you work and park your car influences rates. Some areas might offer discounts, while others could lead to rate increases based on the risk of vandalism or damage.
Marital status: Married drivers generally enjoy lower rates than single drivers.
Gender: Men around age 45 often pay about 6% less than women of the same age. However, this gender gap tends to level out for drivers in their 30s.