For many Central Florida drivers, auto insurance has felt like a second car payment.But there may be some good news: Insurance rates across Florida are beginning to ease, thanks in part to legislative reforms passed in recent years.Still, experts say lower rates won’t automatically show up unless drivers take action.Rates showing early signs of declineIf you’re a Florida driver, chances are your wallet has felt the sting of rising insurance premiums.”When they hit, they hit hard,” Nelson Battle from Sanford told WESH 2 News.Nelson Battle knows that pain firsthand. He says a single crash, one that wasn’t his fault, caused his insurance costs to skyrocket.”I saw my insurance skyrocket,” Battle said. “From two to three-hundred dollars, I was paying for three vehicles; it jumped all the way up to $700.”Stories like his are common, according to Steffanie Rigetta, who owns an independent insurance agency in Altamonte Springs. She works with drivers every day who are frustrated by sudden increases.Premiums can vary widely based on several factors, including your driving record, where you live, your age, and the type of coverage you choose.But Rigetta says there’s a shift underway.”In the last 90 to 120 days, many of our auto carriers have filed for rate reductions,” she said. “You wouldn’t realize that rate reduction until your next renewal.”How shopping around can make a big differenceAs part of our reporting, Rigetta reviewed WESH 2’s Traffic Expert, Meaghan Mackey’s, own auto insurance policy. She was paying $1,089.41 for six months of coverage with a major insurance carrier.After comparing quotes from multiple companies, she cut that cost nearly in half to $639 and got better coverage.Rigetta’s advice: Understand exactly what you’re paying for.”We just want to make sure that you understand the coverages that you’re purchasing,” Rigetta said.One coverage she strongly recommends drivers consider is uninsured and underinsured motorist protection — a major issue in the state of Florida. “It can be very pricey,” she said. “Mostly because in the state of Florida, we have a very high rate of uninsured or underinsured drivers. So we always quote uninsured motorists on policies and higher liability limits.”Loyalty doesn’t always payOne takeaway experts emphasize: Sticking with the same insurance company for years doesn’t necessarily earn you discounts.Paying less doesn’t always mean you have good coverage, and paying more doesn’t mean you’re getting the best deal.Independent insurance agents can help compare policies across multiple companies at no cost to you. They’re paid by the insurer you choose, not the customer, and can walk you through important details many drivers overlook.Nelson Battle says that advice is worth following.”Shop around, absolutely,” he said. “Shop around, there’s some good rates out there.”What drivers should do nowExperts recommend reviewing your policy every six months, especially at renewal time. If your rate suddenly jumps, or even if it hasn’t, comparing quotes could save you hundreds of dollars while keeping the coverage you need.Even without a recent crash, changes in Florida’s insurance market could mean better options are already available.
For many Central Florida drivers, auto insurance has felt like a second car payment.
But there may be some good news: Insurance rates across Florida are beginning to ease, thanks in part to legislative reforms passed in recent years.
Still, experts say lower rates won’t automatically show up unless drivers take action.
Rates showing early signs of decline
If you’re a Florida driver, chances are your wallet has felt the sting of rising insurance premiums.
“When they hit, they hit hard,” Nelson Battle from Sanford told WESH 2 News.
Nelson Battle knows that pain firsthand. He says a single crash, one that wasn’t his fault, caused his insurance costs to skyrocket.
“I saw my insurance skyrocket,” Battle said. “From two to three-hundred dollars, I was paying for three vehicles; it jumped all the way up to $700.”
Stories like his are common, according to Steffanie Rigetta, who owns an independent insurance agency in Altamonte Springs. She works with drivers every day who are frustrated by sudden increases.
Premiums can vary widely based on several factors, including your driving record, where you live, your age, and the type of coverage you choose.
But Rigetta says there’s a shift underway.
“In the last 90 to 120 days, many of our auto carriers have filed for rate reductions,” she said. “You wouldn’t realize that rate reduction until your next renewal.”
How shopping around can make a big difference
As part of our reporting, Rigetta reviewed WESH 2’s Traffic Expert, Meaghan Mackey’s, own auto insurance policy. She was paying $1,089.41 for six months of coverage with a major insurance carrier.
After comparing quotes from multiple companies, she cut that cost nearly in half to $639 and got better coverage.
Rigetta’s advice: Understand exactly what you’re paying for.
“We just want to make sure that you understand the coverages that you’re purchasing,” Rigetta said.
One coverage she strongly recommends drivers consider is uninsured and underinsured motorist protection — a major issue in the state of Florida.
“It can be very pricey,” she said. “Mostly because in the state of Florida, we have a very high rate of uninsured or underinsured drivers. So we always quote uninsured motorists on policies and higher liability limits.”
Loyalty doesn’t always pay
One takeaway experts emphasize: Sticking with the same insurance company for years doesn’t necessarily earn you discounts.
Paying less doesn’t always mean you have good coverage, and paying more doesn’t mean you’re getting the best deal.
Independent insurance agents can help compare policies across multiple companies at no cost to you. They’re paid by the insurer you choose, not the customer, and can walk you through important details many drivers overlook.
Nelson Battle says that advice is worth following.
“Shop around, absolutely,” he said. “Shop around, there’s some good rates out there.”
What drivers should do now
Experts recommend reviewing your policy every six months, especially at renewal time. If your rate suddenly jumps, or even if it hasn’t, comparing quotes could save you hundreds of dollars while keeping the coverage you need.
Even without a recent crash, changes in Florida’s insurance market could mean better options are already available.