Florida Auto Insurance
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Call 941-921-2102 to Get the Right Florida Auto Insurance Protection for You at the Lowest Cost!
No matter how long you have been driving or how blemish free your driving record, each time you get behind the wheel you know there is a chance you will be involved in an auto accident. While no one is totally comfortable with this thought, you may at least feel confident that your Florida auto insurance protection is sufficient to cover whatever damages may occur. But is your confidence based on assumptions or knowledge about your auto insurance overage?
If you are only buying the Florida auto insurance minimum legal requirements, and you cause a significant accident, you may find yourself personally responsible for the difference between your insurance coverage and the costs of damages over and above your current limits of liability. Most people either don’t have or don’t want to use savings, investments or future earnings to pay for damages resulting from an auto accident. Call us today so we can help you buy the right Florida auto insurance protection at the lowest cost.
This Could Happen to You…
You have agreed to pick up from the airport friends flying in from out of state, along with their children. Traffic is bumper to bumper leaving the airport, the children are loud and arguing about whether to eat before going to the hotel. They see the restaurant and you’re two lanes over. Yes, you can make it over before that other car gets closer, so you gun it and merge right, before realizing traffic in front of you in this new lane has almost stopped.
You instantly crash into the rear end of the car in front of you without even having time to brake. Not only is the car you hit a total loss, and the driver is sent to the hospital, but one of your friends had not buckled up in the back of your van, and sustains serious injuries from the impact.
Several weeks later, both of these injured people have had numerous surgeries and are expected to need continued treatment for months. When it seems like it couldn’t get worse, you learn that your auto insurance limits of liability are exhausted and now you are responsible for any damages above and beyond those limits.
You underestimated how much auto insurance you needed to protect you if something like this ever happened. Not being aware of the policy conditions, provisions, and limits of liability have created a financial crisis for your family. If this happens to you, Will Your Florida Auto Insurance Policy.
Inflation is Rising..
Inflation has been spiking at levels we haven’t seen in decades, changing how we conduct business and affecting our wallets at home. The unprecedented rise in the cost of commodities continues to have a major impact on our economy.
• Inflation rates are up 7.5% in 2022 from 2021
• The typical U.S. household is spending an additional $276 a month on goods and services
• The 12-month annual price increase to all goods is 7.9%
Sources: U.S. Department of Labor, Moody’s Analytics Inc., U.S. Bureau of Labor Statistics https://www.bls.gov/charts/consumer-price-index/consumerprice-index-by-category.htm
What’s driving higher auto insurance premiums in the industry?
Automobile pricing, driving trends, vehicle repair costs and other trends are driving up the cost of auto insurance rates.
Automobile Pricing - A shortage of necessary parts and computer chips has limited production of new vehicles around the globe. Demand for vehicles remains high and with a short supply, many auto dealers are charging a premium for the new and used vehicles. • Average new vehicle price $47,000 • YoYchange in the average price of a new vehicle 14% or $6,220 • Average used vehicle price $30,000 • YoY change in the average price of a used vehicle 29% or $6,800
Source: Kelley Blue Book, March 2022
DRIVING TRENDS - In 2021, driving behavior has nearly returned to pre-pandemic levels—and so has the frequency of accidents. In the last year: • 11.2% increase in miles driven • 18.4% increase in auto accidents and fatalities
Source: National Highway Safety Traffic Administration
VEHICLE REPAIR COSTS - Supply chain and labor shortage difficulties are also affecting car parts used for repairs. In general, repairs are taking significantly longer and costing more. In 2022: • Motor vehicle maintenance and repair prices up 6.3%.
Source: U.S. Bureau of Labor Statistics https://www.bls.gov/charts/consumerprice-index/consumer-price-index-bycategory.htm
Provide the Right Protection?
Ideal Insurance is an independent Florida insurance agency that works with you to find the right type of auto insurance protection for you. Don’t risk having inadequate coverage. Contact our office today at 941-921-2102 to review your coverage options and find the auto insurance that offers the right type of protection within your budget.
Located in Sarasota, Florida, we also serve Bradenton, Longboat Key, Siesta Key and communities throughout Charlotte and Manatee counties.