Ryan Insurance & Financial Services
Jun 05, 2017
Buying auto insurance for the first time can seem complicated and confusing. But don't worry - your agent can talk you through it. Here's what you should know.
If you own a vehicle in Florida, you must have insurance issued by a Florida agent. The minimum insurance required in Florida is $10,000 for personal injury protection and $10,000 for property damage liability.
You must provide proof of insurance when you register your vehicle. If you don't maintain your insurance, the Department of Highway Safety and Motor Vehicles may suspend your driving privilege, license plate and registration for up to three years.
There are six basic types of coverage:
Once you choose the types of insurance you want, you'll have to decide how much insurance you want by selecting deductibles and limits. A deductible is the amount you will pay out of pocket before insurance kicks in. A limit is the maximum amount an insurance company will pay. If you select limits that are too low, you're putting yourself at risk financially.
Insurance prices vary widely depending on your age, driving record and type of car. Basically, teenagers, poor drivers, and people with sporty or expensive cars pay higher rates.