in

Understand auto insurance rating and underwriting factors

Auto insurance costs in Florida have become ridiculously expensive and unaffordable for many on a budget. Not everyone has the privilege of getting a scooter and eliminating insurance costs. Here are some common commonsense ideas that may help reduce insurance costs in Florida.

First you need to understand that insurance is a custom-made product, and one size does not fit all. You may live in Miami or Fort Lauderdale and have two cars that could run you somewhere around $1800 for six months of insurance. Meanwhile, someone who lives next door no more than 20 feet apart has two identical cars and pays $900 for similar or the same insurance. Car insurance is rated based on many different factors.

First there is your credit score. Why should your credit score determine the cost of insurance? Simply put, it statistically shows the responsibility of people to pay bills on time and to be more aware of their actions while driving. A person with a high credit score will have a greater fear of getting behind the wheel of a car if drunk than someone with a low or no credit score. A credit score is something people want to keep and keep because it brings benefits and discounts in many different financial areas. Then there is the old driving record. For those who wear seat belts, don’t speed or at least don’t get caught up in it and are lucky enough not to have a collision with fellow motorists or objects, get a huge bonus from insurance companies by not charging extra for reckless behavior.

Other factors that determine rates are the length of your driving history. Operators from certain countries outside the United States are charged additional fees because the insurance company cannot verify your driving history. Believe it or not, marital status also has an effect, if you are a single female, your rate may be higher than if you are married. Insurance companies in Florida are hinting that single women may have unknown boyfriends or girlfriends who may borrow their car at some point, and this becomes an even greater risk for the carrier. And of course the zip code has a major role. Insurance companies rent bean counters. People who work strictly is to read statistics. They generate reports for every zip code in Florida showing the number of accidents, speeding tickets, deaths, DUI, vandalism, etc. If you are lucky enough to be in one of the busy zip codes, you will enjoy the benefits of a higher cost of insurance. Another factor that makes Florida auto insurance so high is the exposure to high losses. Florida is notorious for a range of stolen cars, stolen parts, and fraud incidents. While many scammers take advantage of the assets of Florida insurance companies, well-paying consumers who avoid the hassle have to pay for these losses and expenses. So insurance continues to rise as the value of cars continues to rise and claims continue to increase.

Travel Nursing Series: Travel Nursing in Greece

Health is the most important wealth