Think you have freedom if you’re 16, live in Florida, and just got a car and your driver’s license? Think again. You can’t legally drive that car unless you buy car insurance. Contrary to popular belief, not all car insurance policies in Florida are expensive.
You’re going to learn how to find cheap car insurance in Florida with low down payment no deposit policies. You’ll also gain valuable insights into what to look for in those policies below.
The Best Deals for cheap car insurance in Florida with low down payment no deposit policies
If money is tight and you want cheap car insurance in Florida with low down payment, no deposit, look no further than Geico. You’ll pay a meager monthly premium of $84 with Geico. Of course, other Florida carriers offer policies with great coverage at great rates. It’s time to list them
- State Farm’s monthly premium is $130
- Travelers’ monthly premium is $150
- Nationwide’s monthly premium is $188
- Farmers’ monthly premium is $211
Note: for the best deal with a carrier that offers Cheap Car Insurance in Florida with Low Down Payment No Deposit comes if you pay for half or the entire year’s premium up front and in a lump sum amount.
Do Your Homework
You should always research any insurance carrier that promises to sell Cheap Car Insurance in Florida with Low Down Payment No Deposit. Make sure you use the following checklist below since it has the criteria for the minimum amount of coverage that ANY carrier’s policies in Florida should offer.
Personal Injury Protection is a Must
Personal Injury Protection pays for any medical expenses you, the driver, or passengers in either car may incur from bodily injuries sustained from the accident. This component will pay for 80% of all medical bills and 60% of income loss which either you, the other driver, or the passengers may accrue.
Florida law requires any insurance carrier offering car insurance policies in the state to have a PIP of at least $10,000. However, it’s always better to be safe and choose a policy with a component that has a much higher limit.
NOTE: the policy may only cover up to $2,500 of medical expenses if the injuries are NOT considered to be a medical emergency.
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Property Damage for Cheap Car Insurance in Florida with Low Down Payment
When shopping for Cheap Car Insurance in Florida with Low Down Payment No Deposit, make sure that its property damage component has a minimum limit of $10,000. Florida law requires all car insurance policies to have a property damage component with a limit of at least this much. But if you want real protection, choose a policy with a property damage component of at least $50,000.
The property damage component covers you if you get into an accident and plow into a homeowner’s mailbox. That was just an example. The property damage component will pay for any type of property damage, including damage to the other driver’s car. Incidentally enough, it won’t pay for repairs needed for your car.
Bodily Injury (BI)
Don’t look for Cheap Car Insurance in Florida with Low Down Payment No Deposit if the policy doesn’t have a BI component. The reason is that, given just how accident-prone Florida is, you never know when you may hit and badly injure another driver and his or her passengers.
If your car insurance policy doesn’t have the BI component, then the other party can sue you for your personal assets until you’re bankrupt and homeless. To be safe, choose only those policies with BI components of at least $100,000 for each person and $300,000 for each accident.
Underinsured/Uninsured Motorist Coverage
The bitter truth is that though it’s illegal, there are far too many drivers on the road who are either uninsured or underinsured. The trouble is that these drivers tend to drive recklessly. So, they are much more likely to cause accidents. It’s impossible to sue an underinsured or uninsured motorist for the compensation that you deserve and need even if they are at fault if they have no personal assets.
In these situations, you can rely on the underinsured/uninsured motorist component to pay for all of your property damage and bodily injuries. The UI/UM component is a lifesaver if you are at fault. You should choose an insurance policy with a per-person limit of at least $100,000 and a per-accident limit of at least $300,000.
Collision
This covers you if you cause an accident and are deemed to be at fault. The component will pay for any damage your car may sustain. You should choose a policy with a minimum limit of $50,000.
Other Protections
It wouldn’t hurt to buy a policy that has the following extras when you’re looking for Cheap Car Insurance in Florida with Low Down Payment No Deposit.
- Gap Insurance – you’re covered if your car is totaled and your car loan payments exceed its current fair market value.
- Comprehensive – you should choose a policy with a minimum limit of $50,000. It pays for any damage caused to your car by an act of God.
- MedPay – it covers the 20% of bodily injuries that PIP won’t cover.
FAQ
Q.1) Do you have to have car insurance if you want to drive in Florida?
Ans. Yes, it’s the law.
Q.2) What are the minimum insurance limits?
Ans. $10,000 in PIP, $10,000 in property damage coverage, and 10,000 in bodily injury coverage.
Q.3) What happens if I don’t have insurance?
Ans. You can have your license suspended.
Conclusion
If you’re looking for car insurance and live in Florida, your best option is a Cheap Car Insurance in Florida with Low Down Payment No Deposit policy. It will be easy for you to find this type of a policy now that you know what to look for.