Recommended Auto Coverage in Space Coast/Florida

[ivanthabang]

Hi everyone!

I'm shopping around for car insurance because I think the monthly premium at $310 with USAA is way too high, and I'm not quite sure what coverage is necessary for someone in my situation. I would appreciate any help and recommendation on what I should increase/decrease in terms of coverage.

Here's the current coverage for 2011 Camry & 2015 Altima - all of them paid off.

1. Comprehensive: $500 Deductible
2. Collision: $500 Deductible
3. Car Replacement Assistance: They pay 20% additional of the car value if totaled
4. Bodily Injury Liability: 50K/100K
5. Property Damage Liability: 50K
6. Uninsured Motorist Bodily Injury: 50K/100K - Non-Stacked (not sure what this means)
7. Personal Injury Protection: 10K - $500 Deductible
   1. Apply deductible to: Named Insured & Resident Relatives
8. Rental Reimbursement, Towing & Labor: I'm thinking about dropping these.

Thank you in advance!

 

[yhjmkiop]

@ivanthabang It’s really hard for us to know what’s best for you, but unfortunately you are in an expensive state for insurance.

But here is what people typically suggest with car insurance these days:

(1) Call an independent insurance agent or two to get quotes. They can shop multiple companies for you to get you the same coverage for a better rate, if you aren’t against switching from USAA. This is the best way to cut down your rate quickly, and something I’d recommend to everybody.

(2) Most in the industry would HIGHLY recommend more than $50k liability for property damage. It’s not terrible, but you total one new car and you’re already really close to that limit. Cause any accident with significant damage to multiple vehicles, and you’ll be in trouble as you’d be responsible for any damage you cause beyond the $50k.

Same for bodily injury. Yours isn’t bad, but hurt a few people pretty badly and that $100k will dry up pretty quickly. Hospital visits are not cheap.

(3) If you want to bring your costs down a little bit, most would recommend raising your comp and collision deductibles to $1000 before lowering coverage limits or dropping coverages altogether. Not sure your personal situation or preferences, but if you could comfortably come up with $1000 to fix your car after an accident, then it’s certainly an option.

(4) Since you own it outright, you could also drop comp and collision entirely on the 2011, if you could afford to go without the car entirely in case it were totaled. Again, doing this is more of a personal preference and personal risk tolerance thing.

 

[basantilli]

@ivanthabang Bump up your Bodily Injury, Property Damage, and Uninsured Motorist Bodily Injury (and stack it). You're in Florida, which may now outrank CA in the number of uninsured drivers. All of these will increase your rate unfortunately.

The best way to lower your rate is to drop comp and collision on your vehicles, which is a gamble.