How to Save on Miami Nissan GT-R Insurance

The best way to get discount auto insurance rates in Miami is to compare prices at least once a year from insurers in Florida. You can shop around by following these guidelines.

1. It will benefit you to learn about the coverage provided by your policy and the factors you can control to drop your rates. Many risk factors that increase rates like accidents, traffic violations, and an unacceptable credit score can be remedied by paying attention to minor details. Read the full article for ideas to help reduce premium rates and earn a bigger discount.
2. Obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give rate quotes from one company like GEICO or Allstate, while independent agents can give you price quotes for a wide range of insurance providers.
3. Compare the new quotes to the price on your current policy to see if cheaper GT-R coverage is available in Miami. If you find a better price and switch companies, ensure coverage does not lapse between policies.

One bit of advice is to make sure you enter similar limits and deductibles on every quote and and to get rates from as many different insurance providers as possible. Doing this helps ensure the most accurate price comparison and a better comparison of the market.

Unfortunately, almost 70% of insureds in Florida kept their coverage with the same auto insurance company for more than four years, and almost half have never compared rates to find cheap insurance. With the average auto insurance premium being $1,847, American drivers can save hundreds of dollars each year by just comparing rate quotes, but most undervalue the amount of money they would save if they moved their coverage to a different company.

Rates and other information

The price information displayed next covers estimates of prices for Nissan GT-R models. Having a good understanding how auto insurance policy rates are figured is important for you to make decisions on the best policy to buy.

Data variables include married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, homeowner, and multi-vehicle. Rate information does not factor in specific location information which can alter premium rates greatly.

Higher deductibles save money

When shopping for car insurance, a common question is at what level do you set your deductibles. The comparison tables below illustrate the price difference when you select higher and lower deductibles. The first set of rates uses a $100 comprehensive and collision deductible and the second price chart uses a $1,000 deductible.

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Price estimates do not factor in the specific area where the vehicle is garaged which can alter premium rates considerably.

We can estimate from the data above that using a $100 deductible will cost you about $77 more each month or $924 every year than quoting the higher $1,000 deductible. Because you would pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you go at a minimum 12 months between claims, you would probably be better off by selecting a higher deductible.

The illustration below demonstrates how choosing different deductibles and can impact Nissan GT-R insurance costs for each different age group. The premium estimates are based on a married male driver, full physical damage coverage, and no discounts are applied.

Should you buy full coverage?

The illustration below compares Nissan GT-R auto insurance costs with full coverage compared to only the Florida minimum liability coverage. The prices are based on no violations or claims, $100 deductibles, drivers are single, and no discounts are applied to the premium.

Guidelines for eliminating full coverage

There is no definitive rule for phasing out comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of your full coverage insurance is more than 10% of any settlement you would receive from your insurance company, then it’s probably a good time to buy liability coverage only.

For example, let’s assume your Nissan GT-R book value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $4,000 after the policy deductible has been paid. If it’s costing in excess of $400 annually for full coverage, then you might want to consider buying only liability coverage.

There are a few situations where removing full coverage is not advised. If you have an outstanding loan on your vehicle, you are required to maintain full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should keep full coverage on your policy.

Informed Drivers Save on Insurance

An important part of buying insurance is that you know some of the factors that play a part in calculating the level of your policy premiums. If you know what determines base rates, this allows you to make good choices that can earn you cheaper rates. Many factors are part of the calculation when quoting car insurance. Most are fairly basic such as your driving history, but other factors are more obscure like your continuous coverage and annual miles driven.

The factors shown below are some of the things that factor into your prices.

• More people means more accidents – Having an address in less populated areas is a positive aspect if you are looking for the lowest rates. Fewer drivers on the road corresponds to lower accident rates. City drivers regularly have more road rage incidents and more severe claims. More time commuting means higher likelihood of an accident.
• How much liability protection – The liability section of your policy will provide protection in the event that you are determined to be liable for physical damage or personal injury to other. This coverage provides legal defense up to the limits shown on your policy. Liability insurance is quite affordable compared to comp and collision, so drivers should carry high limits.

• More performance means more cost – The performance of the car or truck you need to insure makes a big difference in your auto insurance rates. The lowest premiums are usually found on smaller low performance passenger cars, but other factors influence the final cost greatly.

  The following data assumes a married male driver age 40, full coverage with $500 deductibles, and no discounts or violations. It shows Nissan GT-R insurance rates compared to other models of vehicles that have a range of performance risks.

• Insurance premiums and driver gender – Statistics demonstrate that females tend to be a little less risky than males. However, this does not mean men are worse drivers. Both genders tend to get into at-fault accidents in similar numbers, but guys cause more damage and cost insurance companies more money. They also get more serious tickets like DUI and reckless driving. Male teenagers have the highest risk to insure and are penalized with high insurance rates.

  The illustration below shows the comparison of Nissan GT-R premium costs for male and female drivers. Data assumes a clean driving record, no claims, comprehensive and collision coverage, $500 deductibles, drivers are not married, and no other discounts are factored in.

• Insurance losses for a Nissan GT-R – Auto insurance companies study historical loss data when determining insurance prices. Vehicles that are shown to have higher loss trends will have higher rates for specific coverages.

  The table shown below demonstrates the compiled insurance loss statistics for Nissan GT-R vehicles. For each policy coverage type, the claim amount for all vehicles compiled together is represented as 100. Values below 100 indicate a favorable loss history, while percentage numbers above 100 show a trend for more claims or an increased chance of larger losses than average.

  
  

  Auto Insurance Loss Data for Nissan GT-R Models

  Vehicle Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Nissan GT-R 2dr 4WD	373	82	317

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

How to find a good Florida car insurance company

Choosing a high-quality insurance provider can be rather challenging considering how many different insurance companies sell coverage in Florida. The company information displayed below can help you decide which auto insurance companies to look at shopping your coverage with.

Compare. Compare. Compare.

Discount Nissan GT-R insurance in Miami can be purchased from both online companies and with local Miami insurance agents, and you should compare rates from both in order to have the best chance of saving money. A few companies don’t offer rate quotes online and many times these small, regional companies provide coverage only through independent insurance agencies.

Insureds switch companies for many reasons like extreme rates for teen drivers, policy non-renewal, questionable increases in premium or denial of a claim. Regardless of your reason for switching companies, switching companies is not as hard as you think.

As you shop your coverage around, do not reduce needed coverages to save money. There have been many situations where someone dropped liability limits or collision coverage only to find out that it was a big error on their part. Your goal is to purchase plenty of coverage for the lowest cost while not skimping on critical coverages.

Other resources

• Auto Insurance 101 (About.com)
• Who Has Cheap Auto Insurance for Business Use in Miami? (FAQ)
• How Much are Auto Insurance Rates for Drivers Requiring a SR22 in Miami? (FAQ)
• Air Bags: Potential Dangers to Your Children (Insurance Information Institute)
• Crash Avoidance Technologies FAQ (iihs.org)
• Neck Injury FAQ (iihs.org)