3 Tips To Consider When Shopping For Your Teen’s Car Insurance

Shopping for your kid’s first car insurance can be nerve-wracking, as is their transition into the freedom that comes with driving. When you choose your teen’s auto insurance from Coastal Wealth Insurance LLC, here are a few tips to consider before signing on the dotted line.

1. Add Them To Your Car Insurance

If you choose a separate auto insurance policy for your teen in Fort Lauderdale, FL, it’s guaranteed that the coverage will cost you an arm and a leg.

A teenage driver is considered a major risk for car insurance providers everywhere, and they have to instate their own form of insurance to counteract that risk. this comes in the form of high premiums and limited coverage.

A sound option is to add your teen driver to your own auto coverage. Your solid reputation as a driver coupled with your willingness to assume responsibility for your child’s driving is insurance enough to lower the rates a bit.

2. Get Your Teen A Used Car

Of course, every teen driver wants to drive a flashy, brand-new car. However, make the wise choice to hand them down a spare car from within the family, or buy them a safe, reliable used vehicle.

Brand new cars depreciate quickly. In fact, they depreciate to half of their retail worth as soon as they are driven off of the dealership lot. this is common knowledge that auto insurers are well aware of, and they rate new cars accordingly.

Purchasing a used car means that it won’t depreciate as quickly. also, if your child does have an accident, the car insurance provider has less to reimburse than if the accident happened in a brand new car. This causes the rates to be lower all around.

3. Send Your Teen To Driving School

It’s great when you bond with your child over a family driving lesson. You can still keep teaching your child how to drive. However, for better auto insurance coverage at a more reasonable rate, consider enrolling him or her in an accredited driving school.

This is more of a formality than anything else; if your child completes driving school, he or she will have the paperwork to prove their competency. Your insurance provider will consider this proof of competent driving as a decreased risk. Therefore, even if it’s a teen driver who is to be covered, he or she is knowledgeable about driving responsibilities on paper. This allows the provider to lower your overall premium rate.

Are You Ready To Buy Coverage For Your New Teen Driver?

It’s hard to let your teen go out on the road alone. However, if your teen has adequate insurance coverage, he or she will be taken care of as a driver no matter the circumstances. Contact one of our understanding agents at Coastal Wealth Insurance LLC today to discuss coverage for your teen. Visit us in our Fort Lauderdale, FL to get a quote and find the policy that works for your family.

How to Avoid Overpaying on Auto Insurance Costs

If the rising cost of auto insurance is troubling you, take heart. There are ways to avoid overpaying for your coverage. The following tips can help you get quality auto insurance coverage at a cost you can afford.

Shop Around

Insurance is a competitive business which gives consumers an advantage in finding affordable prices. By shopping around, you can get a good idea of what auto insurance companies in the Ft. Lauderdale area has to offer. Compare services, coverage, and prices to see what deals you can come up with. Your goal should be to get quality coverage a good price.

Customize Policy

Customizing your auto insurance policy lets you choose the essential coverage you need without paying for fluff. This helps reduce insurance costs. When customizing a policy, make sure you have adequate coverage to protect you and your vehicle.  Compromising coverage for price defeats the purpose of getting insurance at all.  

Look for Discounts

See if you qualify for a discount on your policy. If you’re a senior, student, active military or safe driver, you may qualify for reduced rates on your insurance coverage. You may also be eligible for reduced insurance rates if you’re retired, have passed a driver’s ed course, have a good credit rating or drive a vehicle with multiple safety features. At Coastal Wealth Insurance LLC, we can help you determine what discounts you’re eligible for so you can take advantage of these offers. 

Bundle Policies

Bundling two auto insurance policies together can help save you money on your insurance. If you own a home in Fort Lauderdale, FL, you can bundle your home and auto to get reduced insurance prices.

To learn more about auto insurance options at affordable prices, contact Coastal Wealth Insurance LLC in Fort Lauderdale, FL.   

Auto Insurance Laws in Florida

Florida’s roads are filled with various types of drivers. In fact, the state trails behind only California and Texas (as of a 2016 report) when it comes to total number of licensed drivers, and this isn’t even considering the fact that Florida also happens to host large quantities of driving tourists from other states every year. It is, therefore, highly important for every Florida driver to have proper auto insurance, but what exactly does the law say? If you live in the Tampa, FL area, the experts at Coastal Wealth Insurance, LLC are here to help. Here’s what you need to know about state insurance laws:

State Requirements

All drivers must display proof of auto insurance (in the state of Florida) when registering their vehicle at the Florida Department of Motor Vehicles. The minimum requirements are $10,000 in coverage for Property Damage Liability (also known as PDL coverage) and $10,000 in coverage for Personal Injury Protection (PIP). Now, it is also important to realize the Florida DMV may also ask you to show proof of additional auto insurance coverage, such as that for Body Injury Liability (BIL) if your driving record shows you have already committed certain offenses. 

Getting Protected

Making sure you have the right auto insurance coverage can certainly seem like an intimidating process, but the experienced staff at Coastal Wealth Insurance, LLC are here to make everything go smoothly. Serving the Tampa, FL area and beyond, our experts will make sure your policy meets all state requirements and fits your specific needs. In addition to the required coverages mentioned above, we can also help you get further protection with collision, comprehensive, and uninsured motorist coverage add-ons (for those who are interested). After all, nobody can predict exactly what will happen with so many drivers on the road. But if you have a good insurance policy, there’s no need to worry. 

What Does Auto Insurance Cover if You’re At Fault?

If you’re at fault in an auto accident and you have the right coverage options in place, your insurance can provide a wide spectrum of protection. However, basic coverage may not be enough to pay for all the property damage and medical expenses. To understand what auto insurance will cover, it’s critical to know the features of your policy.  

The basic coverage required in Florida includes personal injury protection and property damage liability. Regardless if you’re at fault in an accident, personal injury protection will help you pay your medical expenses. Property damage coverage will pay for repairs, or replacement costs, to someone else’s property. However, the required basic coverage payouts are minimal. Working with an insurance specialist at Coastal Wealth Insurance, LLC in Fort Lauderdale, FL is key for discerning the right coverage limits for you.

In addition to basic insurance, bodily injury coverage will help pay for someone else’s medical expenses, if you’re at fault in an accident. This is a popular coverage option that can have immense benefits for you, your family, and for those hurt in an accident. The risk of financial hardship and ruin is mitigated when the appropriate coverage is in place. Additional insurance coverage, such as general liability and collision, are important to have because they can increase your protection, even if you’re at fault.

To learn more about auto insurance and how to protect yourself if you’re at fault in an accident, please contact Coastal Wealth Insurance, LLC in Fort Lauderdale, FL. Having the right auto insurance policy can protect you and your families assets while assisting you and others in recovering from an accident. Being underinsured is a risk that can be mitigated with the help of an insurance specialist.

Why Do Auto Insurance Rates Decrease When You Turn 25?

Auto insurance policies are typically more expensive for younger, inexperienced drivers than they are for those who are older. Most policies will decrease your insurance rate when you turn 25 years old. At Coastal Wealth Insurance, LLC, serving the greater Fort Lauderdale, FL area, we are often asked why this is. Here are a couple of the reasons why auto insurers decrease insurance rates when drivers turn 25. 

Studies Have Shown This is When Fewer Accidents Occur

One of the reasons why many auto insurance companies reduce their rates when drivers turn 25 is because studies have routinely shown that drivers under the age of 25 are more likely to be involved in an automobile accident. But this risk decreases when drivers are over the age of 25. When the risk of an accident decreases, your auto insurance rate also decreases. 

This is When Most Drivers Have a Complete Driving Record

The second reason why many auto insurance companies reduce their rates when drivers turn 25 is because most drivers have a full or complete driving record by the time they turn 25. Driving records typically go back seven years. When you are a new driver, the insurance company doesn’t have enough data on you to determine whether you are a safe driver or whether you like to speed. As such, they charge all young drivers higher rates. But when you reach the age of 25, you typically have a complete driving record so that they can base your rates on your excellent driving record. 

When you are looking to obtain an auto insurance policy, it is important to get quotes from a variety of different companies to effectively compare policies, regardless of what your age is. When you are looking to obtain a quote for a new auto insurance policy in the greater Fort Lauderdale, FL area, call Coastal Wealth Insurance, LLC and let us help you get started on an auto policy. 

Will My Auto Insurance Cover Medical Bills?

If you are a Tampa or Fort Lauderdale, FL resident who has recently been in a car accident, you may be wondering how you are going to pay the remaining medical bills you may incur. Often, serious car accidents can result in thousands of dollars in bills, and you may lose wages or your job completely if you can’t work.

Below, we will discuss how auto insurance coverage may help pay for your medical bills and what you need to know after a car accident.

Auto Insurance and Accident Medical Bills: What You Need to Know

Unfortunately, this article is not going to explain in detail how your medical bills will be affected by auto insurance. This is because every auto insurance plan is different. We can give you some idea of what you will encounter, however.

Many auto insurance plans will offer payments for medical bills if you are named on your auto insurance policy and you are making a no-fault claim. This applies to most personal injury protection coverage plans (PIP).

Also, in the state of Florida, you can pay for additional medical coverage called “MedPay.” This is a form of optional coverage that can be purchased for most any auto insurance policy.

It’s important to remember that these types of payments for your medical bills are no-fault claims. It doesn’t matter who was at fault in the accident. In many cases, this coverage will not pay for all of your medical bills, and this is when many people decide to sue the other driver if they were not at fault in the accident. Again, you will need to consider your situation on a case-by-case basis as all accidents and insurance policies are different.

Contact Coastal Wealth Insurance, LLC Today

If you are a Tampa or Fort Lauderdale, FL resident who has recently been in an auto accident, Coastal Wealth Insurance, LLC can help you decipher what your policy offers. We can also help you sign up for new auto insurance if you don’t currently have a plan. If you are looking for a quote, try our online rating tool for auto and home insurance. Stop by our office or call us today.

3 Things You Didn’t Know Your Auto Insurance Could Do

In the state of Florida, all vehicles with four or more wheels are required to have auto insurance. Minimum insurance coverage protects motorists from damaging accidents.

Auto insurance policies come with a variety of options and additions. With the guidance of a local insurance agent, you can customize the perfect policy for your needs.

If you’re thinking about upgrading your existing policy, here is a list of options you might not know about.

Rental Cars

A car accident can disrupt your daily routine for a long time. Rental cars can help you resume normal activities more quickly.

The insurance experts at Coastal Wealth Insurance, LLC in Fort Lauderdale, FL can make it even more convenient. If you need a rental car as the result of an accident, your fees could be covered.

Tow Truck

Mechanical troubles don’t have to ruin your day. Many insurance companies contract with local tow drivers and services to offer their members special discounts and priority attention. Talk to your agent before you take off on your next road trip.

Tow truck coverage also covers removing your vehicle from the scene of an accident if it becomes undrivable.

Additional Equipment

Whether you spent the last few years restoring a classic car to mint condition or installed a wheelchair lift in your minivan, customized vehicles can be difficult to insure. Many policies do not cover equipment and features that did not come from the manufacturer. An additional equipment option will ensure that your special vehicle is adequately protected.

Coastal Wealth Insurance, LLC offers customized auto insurance policies in the Fort Lauderdale, FL area. Contact an insurance expert to find out how to make your insurance policy go the extra mile for you.

Coastal Wealth Auto Insurance in Ft. Lauderdale, Florida

In Florida, as in most states, drivers must purchase automobile insurance before they can legally operate a car. When drivers in the Fort Lauderdale, FL area need an affordable reliable policy, they turn to Coastal Wealth Insurance, LLC. 

Florida drivers must carry a minimum in coverage for both personal injury and property damage liability. While these amounts will keep you on the right side of the law, they won’t cover all of your damages. Especially if you’re involved in a catastrophic accident. In Florida, floods, hurricanes, and thunderstorms are common threats. Spend a little more money now and avoid paying more later. 

Coastal Wealth Insurance, LLC offers policies for all of you car collectors too. Vintage cars can be seen on highways and interstates across Florida. The Sunshine State is a haven for car collectors. Collectors often leave their cars in the garage, accumulating dust. That’s just not right. Cars are meant to be driven, especially the fast ones. Coastal Wealth Automobile Insurance will set you up with the coverage you need to get out of the garage and onto the street. 

Coastal Wealth Insurance, LLC offices can be found at 2400 E Commercial Blvd, on the 11th floor. Visit our main website or give us a call at 954-331-5046. You’ll speak with a helpful experienced team member who can help you find the coverage that’s right for you, your vehicle, and your family. If you live in or around Fort Lauderdale, FL, don’t wait for the next storm to hit. Contact Coastal Wealth Insurance, LLC today and see what they can do for you.