Florida Auto Insurance Company

Auto Insurance Companies in Florida

Click Here to Advertise on this page!

Did you Know?

About Auto Insurance

Auto insurance is insurance consumers can purchase for cars, trucks, and other vehicles. Its primary use is to provide protection against losses incurred as a result of car accidents.

Auto insurance Coverage Levels

By buying auto insurance, depending on the type of coverage purchased, the consumer may be protected against:

• The cost of repairing the vehicle following an accident
• The cost of purchasing a new vehicle if it is stolen or damaged beyond economic repair
• Legal liability claims against the driver or owner of the vehicle following the vehicle causing damage or injury to a third party.
  Liability insurance covers only the last point, while comprehensive insurance covers all three. Even comprehensive insurance, however, doesn't fully cover the risk associated with buying a new car. Due to the sharp decline in value immediately following purchase, there is generally a period in which the remaining car payments exceed the compensation the insurer will pay for a "totaled" (destroyed, or written-off) vehicle. In some countries including New Zealand and Australia market structures mean that people are more likely to buy a nearly new car than a new car so this is less of a problem.

Auto Insurance Public policy

In many countries it is compulsory to purchase auto insurance before driving on public roads. This is to protect third parties against the financial consequences of loss, damage or injury caused by a vehicle. Typically, coverage against loss of or damage to the driver's own vehicle is optional - one notable exception to this is in Saskatchewan, where SGI provides collision coverage (less a $700 deductible) as part of its basic insurance policy. In South Australia Third Party Personal insurance from the State Government Insurance Corporation (SGIC) is included in the license registration fee. Most countries relate insurance to both the car and the driver, however the degree of each varies greatly.

Auto Insurance Pricing plans

Except for government-mandated liability insurance, most car insurance plans charge a premium based on several risk factors that are likely to have an impact on the frequency of occurrence or on the expected cost of future claims. The premium usually depends on the car characteristics, the coverage selected (deductible, limit, covered perils), the usage of the car (commute to work or not, annual distance driven), and the profile and driving history of the drivers (age, sex, marital status, traffic violations and accidents).

For mandatory liability insurance, in some countries risk factors are taken into account (giving varying prices) and in others a fixed rate is charged regardless of the individual circumstances

• Remain at the scene.
• Call the police.
• Ask for this information:
  
  1- Name, address, drivers license number, and phone numbers for other drivers and witnesses.
  
  2- Year, make, model, and license plate number of all vehicles.
  
  3- Name of insurance company or agent and policy number for other drivers.
  
• Call your insurance company (for your convenience, a list of telephone numbers for our insurance companies' claims departments appears above).
• Do not admit fault for the accident or discuss your insurance coverage or limits.
• Do not discuss the accident with anyone except the police and your insurance representative.
• Exchange information with the other driver and provide your insurance information.