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If you live in West Palm Beach and want to operate a motor vehicle on Florida roadways, you’re required by law to purchase a minimum amount of car insurance. Rates for car insurance West Palm Beach may vary depending on a driver’s record, age, and ZIP code, among other factors.
Florida Insurance Requirements
According to Bankrate, Florida is a no-fault state, which means you can file a claim on your insurance policy if you’re in an accident, even if the other driver is responsible for the accident. To meet Florida’s minimum insurance requirements, West Palm Beach drivers should make sure that their insurance policies include the following:
- Personal Injury Protection (PIP): $10,000.
- Property Damage Liability: $10,000.
Bankrate points out that if you’re in a serious accident, the state-mandated minimum coverage may not cover the cost of all necessary repairs and medical care. It recommends that you raise your limits so you don’t get stuck paying out of pocket.
How Much Do West Palm Beach Drivers Pay for Car Insurance?
The Zebra reports that West Palm Beach Drivers pay, on average, $3187 a year for car insurance. That’s higher than both the statewide rate of $2309 and the nationwide average of $1548. ConsumerAffairs notes that West Palm Beach is more populated than other areas of Florida and sees more traffic accidents. That factors into West Palm Beach drivers paying higher rates than their fellow Floridians.
What Factors Affect Individual Insurance Rates?
Because insurance companies customize car insurance rates according to each driver’s personal details, you could end up paying more or less for car insurance than the average West Palm Beach driver. The Zebra recommends that you shop around for quotes from different companies to find the best price. Here’s what some of the leading insurance companies in West Palm Beach charge, on average:
- State Farm: $2623 a year.
- GEICO: $2808 a year.
- Progressive: $3940 a year.
- Allstate: $4139 a year.
No matter which insurance company you choose to purchase a policy from, your age will have a huge impact on your car insurance rates. West Palm Beach drivers in their 50s typically enjoy the lowest rates because they are a fairly low-risk demographic. However, if you’re a teen driver, you have a minimal amount of driving experience, making you a significant risk to insure. That means you can expect to pay the highest rates in West Palm Beach. The Zebra provides a breakdown of rates based on driver age:
- Ages 16 to 19: $8956 a year.
- Ages 20 to 29: $4020 a year.
- Ages 30 to 39: $3180 a year.
- Ages 40 to 49: $3128 a year.
- Ages 50 to 59: $2947 a year.
- Ages 60 to 69: $3011 a year.
- Ages 70 to 79: $3681 a year.
Insurance providers also take into consideration a driver’s gender and marital status when calculating insurance rates. Here’s what you can expect to pay depending on your gender and marital status:
- Female Drivers: $3300 a year.
- Male Drivers: $3187 a year.
- Single Drivers: $3069 a year.
- Married Drivers: $2951 a year.
- Divorced Drivers: $3187 a year.
- Widowed Drivers: $3137 a year.
If you want to lower your car insurance costs, one of the best things you can do is maintain a clean driving record. West Palm Beach drivers with DUIs, speeding tickets, or reckless driving citations on their records can count on paying higher rates than drivers who don’t engage in unsafe driving habits. The Zebra reports that drivers with violations on their records can expect to pay the following:
- DWI/DUI: $4670 a year.
- Reckless Driving: $4827 a year.
- At-Fault Accident (with damages under $1000): $4389 a year.
- At-Fault Accident (with damages over $2000): $4389 a year.
- Speeding Ticket (16 to 20 mph over the speed limit) $3995 a year.
Another factor insurance companies use to determine if a driver is a risk to insure is credit history. For the insurance industry, a driver’s credit rating is a good indicator of how responsible they are, especially when it comes to paying premiums on time. If you improve your credit score from the “Poor” tier to the “Exceptional” tier, you could see your insurance rates drop by 60 percent. Here’s a breakdown of insurance rates based on credit tier:
- Poor (300 to 579): $6405 a year.
- Fair (580 to 669): $3934 a year.
- Good (670 to 739): $3187 a year.
- Very Good (740 to 799): $2874 a year.
- Exceptional (800 to 850): $2541 a year.
Finally, your insurance provider will factor in your ZIP code to calculate your insurance rates. If you live in an area of West Palm Beach with higher rates of car theft and vandalism, you’ll typically pay higher rates than drivers who live in low-risk neighborhoods. SmartFinancial provides a breakdown of rates by West Palm Beach ZIP codes:
- 33401: $2995 a year.
- 33402: $1544 a year.
- 33403: $2882 a year.
- 33404: $3059 a year.
- 33405: $3038 a year.
- 33406: $2807 a year.
- 33407: $2969 a year.
- 33409: $3042 a year.
- 33411: $2636 a year.
- 33412: $2691 a year.
- 33413: $3162 a year.
- 33414: $2724 a year.
- 33415: $3058 a year.
- 33416: $3312 a year.
- 33417: $2904 a year.
- 33419: $2582 a year.
- 33422: $2934 a year.
Car Insurance Discounts for West Palm Beach Drivers
As Bankrate notes, even if you live in a high-risk ZIP code or have a less-than-perfect driving record, you can still save money on car insurance by qualifying for discounts. Consider discussing the following discounts with your provider:
- Bundling Discounts: Most insurance companies offer a discount to customers who bundle their auto insurance policy with their renter’s or homeowner’s policy. You can also earn a discount by insuring all your household vehicles with the same company.
- Safe Driver Discounts: Drivers who install a telematics device in their vehicle or use a smartphone app to track their driving habits can earn customized discounts based on how safely they drive.
- Good Student Discount: If your teen driver maintains a 3.0 GPA or higher, they can qualify for a good student discount.
As you can see, car insurance policies aren’t one-size-fits-all products. By doing your research, you can find the policy that’s right for you at a fair price.
Check this out if you need additional information, resources, or guidance on car insurance.
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