Every state has a different standard of living. Auto insurance in Tampa rates is decided based on the area you reside in. The state of Florida ranks 3rd highest among all the states in the nation when it comes to auto insurance. Auto insurance in Tampa exceeds the national average for car insurance by 52%. This is why you need to make sure that you get your auto insurance in Tampa, Florida from the best car insurance companies in the U.S.
Tampa, Florida has uninsured drivers in large numbers compared to the rest of the nation. According to the survey conducted by the IRC, nearly 26.7% of drivers are uninsured. They drive without any insurance. Hence when you have around 25% of uninsured drivers driving in Tampa, Florida, insurance rates are bound to be high for all living here.
There are other factors too that affect the premium rate of car insurance in Tampa, Florida. Uninsured drivers are not the only thing that makes car insurance expensive. The population is high in this city. And so is the percentage of risky drivers. This city has many universities that attract many students to study in this beautiful place. In addition to this, retirement communities are many here and so is the number of old drivers. And most of the drivers do not know the roads well in Tampa, Florida, especially the tourists flocking this place to admire its scenic beauty.
All these above factors, make car insurance in Tampa, Florida very high as compared to other cities in the country.
All those living in Tampa, Florida are required to compulsorily have the property damage liability and the personal injury protection (PIP) of the following amounts:
- $10,000 property damage liability per accident.
- $10,000 personal injury protection.
If the crash is your fault, you also have to pay:
- $10,000 in bodily injury liability per person.
- $20,000 in bodily injury liability per accident.
Experts recommend buying insurance that will be above the set minimum requirement of the state. Also, you may require additional coverages like uninsured motorist, comprehensive, and collision insurance. This will protect you when your state minimum may not be able to cover all the required expenses.
Tampa, Florida is a no-fault state. In the event of an accident, normally the injured driver will try to get a reimbursement from the insurance company of the other driver who is at fault. But, this does not hold true for Tampa, Florida. Here in Tampa, FL, all drivers are needed to carry personal injury protection (PIP) of a minimum of $10,000.
This cover also insures injuries of your car passengers. Just that the expenses related to your car damages are not covered by PIP. Therefore in Tampa, Florida, it is important to have liability coverage if you are residing there.
Factors Determining Premium Rates of Auto Insurance in Tampa
Your car’s model, age, make of the car, car alarms, safety features, how many vehicles are insured by you, and the coverage amount of all these insured vehicles, play an important part too in deciding the insurance rate.
Your driving record plays an important role too. Hence you will notice that the insurance quotes you received for your car may not be the same as that of your neighbor even if you both have many similarities like the place you both reside in. When shopping for car insurance in Tampa FL, it is better to approach different insurance companies and get a quote from them before you finalize on one.
Types of Coverage for Auto Insurance in Tampa Florida
The types of auto insurance in Tampa, FL are uninsured and underinsured motorist coverage, personal injury protection, collision coverage, medical payments coverage, comprehensive coverage, and auto liability coverage.
So after you decide which coverage you need to have apart from the state’s compulsory coverage requirement, your insurance rates will differ. The more the coverages you opt for, the higher the liability for insurance companies. Hence your auto insurance premiums will be much higher.
You should also check ratings of the insurer on NAIC. You need to know that the number of happy customers leaving a positive review is very few or rare. Happy customers may not feel the need to write a review online. Therefore, you must check the NAIC ratings which are unbiased instead of depending on the online reviews.