On average, Floridians are paying $1,800 a year for auto insurance.
Drivers everywhere can't figure out how insurance companies come up with the rates we all pay.
Shania said her carrier raised her rates for a malfunctioning light and not updating the address on her license.
Bill Newton, with the Florida Consumer Action Network, points to a recent study by the Consumer Federation. It indicates Progressive and Farmers charge the same rates to someone who drives 2,500 or 22,000 miles a year.
In setting rates, insurers put more weight on personal characteristics like marital status and credit score than to risk indicators like miles driven.
In another study, the Consumer Federation found Geico charged young female drivers more than young male drivers. Why? Every company uses its own matrix to determine rates.
If you want to save on your next renewal there are number of easy moves to make.
First, consider bundling your homeowners and auto for a discount. Ask to increase your deductible. Also, ask your agent about non-driving related discounts. And if you do get a moving violation be sure to take the safe driving class so the points don’t wind up on your license which is a guaranteed rate hike.
When it comes to checking rates you want to go with an independent agent who writes thru multiple carriers.
Consumer Reports says use websites such as Answer Financial and InsWeb Insurance to shop around to save money on auto insurance.