It takes a little time, but the best way to get budget Fiat 500 insurance is to compare prices annually from insurers who sell auto insurance in Orlando. Rate comparisons can be done by following these steps.
First, try to learn about the different coverages in a policy and the steps you can take to prevent high rates. Many policy risk factors that cause rate increases like speeding tickets, careless driving and poor credit history can be controlled by making minor changes in your lifestyle. Later in this article we will cover ideas to prevent expensive rate increases and find hidden discounts.
Second, quote rates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only quote rates from one company like GEICO or Allstate, while independent agencies can give you price quotes from multiple companies.
Third, compare the new rates to the premium of your current policy to see if a cheaper rate is available in Orlando. If you find a lower rate and change companies, make sure coverage does not lapse between policies.
One bit of advice is to make sure you enter the same coverage limits and deductibles on every quote and and to get quotes from as many auto insurance providers as possible. This enables a fair rate comparison and a complete selection of prices.
It’s hard to fathom, but almost 70% of drivers have remained with the same insurance company for at least the last four years, and 38% of customers have never compared quotes from other companies. Many drivers in Orlando could pocket 55% a year just by getting comparison quotes, but they don’t want to take the time to find cheaper rates by getting comparison quotes.
Reducing your insurance rates can be quick and easy. Consumers just need to invest a little time to compare rate quotes from online providers.
The auto insurance companies shown below provide comparison quotes in Florida. If multiple companies are listed, it’s highly recommended you click on several of them to get a more complete price comparison.
Insurance does more than just repair your car
Despite the high insurance cost for a Fiat 500 in Orlando, insuring your vehicle may not be optional for several reasons.
- Most states have minimum liability requirements which means you are required to buy a minimum amount of liability insurance coverage in order to get the vehicle licensed. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If your Fiat has a loan, it’s most likely the lender will have a requirement that you buy full coverage to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the bank may buy a policy for your Fiat for a lot more money and require you to reimburse them much more than you were paying before.
- Insurance safeguards not only your car but also your financial assets. It will also cover medical bills for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance also covers all legal expenses up to the policy limit in the event you are sued. If your Fiat gets damaged, your insurance policy will pay all costs to repair after the deductible has been paid.
The benefits of having insurance more than offset the price you pay, especially if you ever need it. On average, a vehicle owner in Orlando is currently overpaying as much as $850 per year so it’s very important to do a rate comparison at every policy renewal to save money.
Orlando Insurance Rates are Influenced by These Factors
Lots of factors are used in the calculation when you quote your car insurance policy. Some are pretty understandable such as your driving history, but others are less apparent such as whether you are married or your commute time. When buying car insurance it’s important to understand some of the elements that go into determining your car insurance rates. If you know what influences your rates, this allows you to make good choices that can help you get lower car insurance prices.
Vehicles with better crash test results lower car insurance rates – Vehicles with high crash test scores get lower rates. These vehicles have better occupant injury protection and any reduction in injury severity means less claims paid and cheaper rates on your policy.
Get better rates if married – Having a spouse can actually save you money on car insurance. Having a spouse may mean you are less irresponsible it has been statistically shown that married drivers get in fewer accidents.
More people means more accidents – Living in smaller towns and rural areas of the country may provide you with better prices when talking about car insurance. Urban drivers have more traffic problems and a longer drive to work. Fewer people means fewer accidents in addition to lower liability claims.
Proper usage rating affects rates – The more you drive your Fiat in a year the more you’ll pay to insure it. The majority of insurers calculate rates based upon how you use the vehicle. Cars and trucks that are left in the garage get more affordable rates than cars that get driven a lot. Improper usage on your 500 is just wasting money. Make sure your policy reflects annual mileage.
Bundling policies can get discounts – Most larger companies will award discounts to insureds that buy multiple policies in the form of a multi-policy discount. Even with this discount, you still need to get quotes from other companies to ensure the best deal.
GPS tracking and theft deterrents reduce rates – Owning a car with anti-theft technology or alarm system can help lower your rates. Advanced theft deterrents such as GM’s OnStar, tamper alarm systems and vehicle immobilizers all help stop car theft.
Do you really need to file those claims? – Companies in Florida award most affordable rates to people who only file infrequent claims. If you frequently file small claims, you can definitely plan on either policy cancellation or increased premiums. Your insurance policy is intended for claims that you cannot pay yourself.
Cautious drivers pay lower prices – Only having one speeding ticket or other violation can boost insurance rates by twenty percent. Drivers who don’t get tickets pay lower auto insurance prices as compared to careless drivers. Drivers with severe violations like DUI or reckless driving may find they need to complete a SR-22 with their state motor vehicle department in order to keep their license.
Fiat 500 insurance claim data – Car insurance companies use past loss statistics for each vehicle when determining insurance prices. Models that the statistics show to have a higher amount or frequency of claims will be charged more to insure. The table below outlines the historical insurance loss data for Fiat 500 vehicles.
For each insurance policy coverage type, the claim amount for all vehicles, regardless of manufacturer or model, equals 100. Numbers below 100 represent a good loss history, while numbers that are greater than 100 point to more losses or tendency to have larger claims.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Fiat 500 | 72 | 76 | 66 | 96 | 89 | 84 |
| Fiat 500 Convertible | 76 | 79 | 60 | 85 | ||
| Fiat 500 Electric | 73 | 59 | 76 | 60 | ||
| Fiat 500L | 112 | 80 | 102 | 128 | 93 | 97 |
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
You can find affordable coverage
Cheaper auto insurance in Orlando is possible both online in addition to many Orlando insurance agents, so you should be comparing quotes from both in order to have the best price selection to choose from. Some companies do not offer the ability to get a quote online and these regional carriers prefer to sell through local independent agents.
When trying to cut insurance costs, don’t be tempted to buy less coverage just to save a little money. In many cases, an accident victim reduced uninsured motorist or liability limits to discover at claim time that they should have had better coverage. The proper strategy is to buy the best coverage you can find at the best price, but don’t skip important coverages to save money.
Drivers who switch companies do it for any number of reasons including delays in paying claims, being labeled a high risk driver, questionable increases in premium and even extreme rates for teen drivers. It doesn’t matter what your reason, finding a new auto insurance company can be pretty painless.
More learning opportunities
- Five Mistakes to Avoid (Insurance Information Institute)
- What Insurance is Cheapest for Drivers with Accidents in Orlando? (FAQ)
- Who Has Cheap Orlando Auto Insurance for a Hyundai Elantra? (FAQ)
- Who Has Affordable Car Insurance for a Jeep Wrangler in Orlando? (FAQ)
- Prepare your Teens for Safe Driving (InsureUonline.org)
- Parking Tips to Reduce Door Dings (State Farm)
- Booster Seat Ratings (iihs.org)
- Auto Crash Statistics (Insurance Information Institute)