Car Insurance Basics | OkCarz

a sedan and an SUV in a rear-end collision with overlaid how to decide on an auto insurance policy text

How to decide on an auto insurance policy 

Whether you’ve just gotten your license, or if you’ve been driving for years in a hand-me-down minivan, one of the first steps to take after buying your first vehicle is registering for car insurance. In Florida, you are required to have auto insurance when you register your vehicle. If you’ve just gotten your first vehicle, it is likely that you’ve never had to set up insurance before.  

When you choose an insurance policy, there are different types of coverage that you can opt for, like Collision, Un-or-Underinsured motorists, and Comprehensive. Each different aspect of your insurance policy protects you from a different possible accident outcome. For example, with comprehensive insurance, your vehicle is protected against non-accident related damage, like flooding, theft, or vandalism.  

The state of Florida requires drivers to have at minimum, coverage for $10,000 personal injury protection, and $10,000 property damage liability. Personal injury protection, also known as PIP, which pays for the medical expenses incurred from an auto accident. Liability insurance will cover damages to property or automobiles.  

[Related: What to do when you’re buying your first car]

How much does car insurance cost? 

man in a suit examining a vehicle that had been in a collision

Before you consider buying a vehicle, you should have already figured out a budget, which should include the cost of insurance. There are many aspects that go into how much your auto insurance will cost, like your driving record, how much you drive, the area you live, and the type of car you drive. While having a slick sports car might be fun, you’ll end up paying more for insurance. The price of your policy also uses the value of your vehicle.  

When you’re shopping for insurance, there are plenty of options for you to consider. It is important to shop around for the best price that will fit not only your budget but your insurance needs. Once you’ve found an insurance company that will offer you the best coverage, ask them about discounts for good driving, or if you’re still a student, good grades. Regardless of which insurance company you go through, having insurance is a great way to make sure that your used vehicle is taken care of.  

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