Premiums
`
`Premiums
`
`How Premiums are Determined
`
`The premium is the amount you pay for your
`insurance coverage. Financing your premium or
`paying. it monthly adds extra costs. Some com-
`panies add a one-time membership or policy fee
`when you pay your first premium. When you buy
`auto insurance, ask your agent for a full explana-
`tion of the charges and for straightforward ad-
`vice on how to keep your premium down.
`If you buy your auto insurance with a credit
`card, Florida law provides that any refund due
`you must be paid directly to you. You will still
`be responsible for any charge or interest added
`by the credit card company.
`Your premium may not be increased solely
`because of a physical handicap that does not im-
`pair driving ability.
`Your premium may not be increased solely
`because you have been convicted of any non-
`criminal moving violation once during the most
`recent 18 months unless you violated the speed
`limit by more than 15 miles per hour.
`Your comprehensive or uninsured motorist
`premium cannot be increased solely because you
`were involved in an accident or convicted of a
`moving traffic violation.
`As of October 1, 1988, insurers may not increase
`your PIP, liability, medical payments, or colli-
`sion premium, or refuse to renew the policy solely
`because of one accident in a three-year period,
`unless the company incurred a loss and they can
`prove you were at fault. If you have two or more
`accidents during a three-year period, the com-
`pany cannot increase the premium or refuse to
`renew the policy unless the company incurred a
`loss or can prove you were at fault.
`
`Beginning October 1, 1939,
`Property Damage Liability insurance
`will be required by law in addition
`to PIP coverage.
`
` _
`
`A company cannot increase your premium or re-
`fuse to renew the policy if you were:
`
`' lawfully parked;
`
`0 reimbursed for damages or have a judgment
`against the person at fault;
`
`0 struck in the rear by another vehicle travel-
`ing in the same direction and were not convicted
`of a moving violation in connection with the
`accident;
`
`0 struck by a hit-and-run driver if you report the
`accident to authorities within 24 hours after it
`was discovered;
`
`I not convicted of a moving violation, if the
`operator of the other vehicle was convicted of
`such a violation;
`
`' determined by a court not to be liable for
`damages;
`
`- charged with a violation which was later dis-
`missed or nolle pressed;
`
`
`
`I0 AUTOMOBILE INSURANCE
`
`Page 000011
`
`

`
`Premiums
`
`0 not at-fault, as explained in a written state-
`ment by you establishing facts demonstrating
`you were not at fault.
`
`Your insurance company must notify you of
`this list and, if your situation fits any one of the
`above, the company cannot refuse to renew you
`or they must make the proper refund of any ad-
`ditional premiums charged.
`
`Shopping Around is Important
`Because Prices Differ
`
`The difference between auto insurance pre-
`miums may be hundreds ofdoiiars from one com-
`pany to another. Because of the wide range of
`prices it’s important that you shop around for the
`best buy for your needs.
`The premium a company quotes you will vary
`according to:
`0 who regularly drives your car;
`0 your driving record and the record of other
`drivers who use your car;
`0 the model and value of your car;
`0 what type of coverage you select, including
`liability limits and deductibles;
`0 where you live or garage your car.
`Generally, you are likely to pay more for auto
`insurance if a young person drives your car, if
`you or others driving your car have had accidents
`or violations, if you drive an expensive car, if you
`select high liability limits and low deductibles,
`if you live in a congested area with more frequent
`and costly accidents or in an area with a high
`percentage of uninsured drivers and if you have
`not carefully shopped around for a policy.
`After you have selected a company, your
`premium might increase at renewal time even
`if you have had no accidents or violations while
`the policy was in effect.
`
`
`
`Some reasons for premium increases include:
`0 addition of another car to the policy;
`
`0 addition of a teen-ager or ‘another driver to
`your policy;
`0 driving a longer distance to work or school;
`0 moving to an area where the company charges
`higher rates;
`0 increasing the policy’s coverage;
`0 an overall increase in the company's rates
`after you purchased the policy.
`
`Teen-age Drivers
`
`to your
`When adding a teen-age driver
`automobile coverage your insurance company
`will consider the age, sex, driving experience and
`driving record of the youth.
`Guidelines for insuring youthful drivers will
`vary from company to company. Check with your
`company before your son or daughter applies for
`their temporary driving permit to find out what
`your company requires.
`Your company's guidelines will determine
`when you must report a young operator. Some
`companies require young operators be reported
`when they obtain a temporary driving permit,
`while others require they be reported immediat-
`ely upon receipt of their driver's license. Be sure
`to follow the requirements of your insurance com-
`pany for reporting young drivers, because if your
`teen-ager is involved in an accident, you may not
`be covered if you have not met the company's
`requirements.
`With some companies your premium could be
`aifected by whether the youth is listed as
`the principal driver of the car. Rates may be less
`expensive if adults are the principal operators
`and the automobile has not been provided ex-
`clusively for use by the youth.
`Rates for young male drivers are higher than
`for females because statistical information shows
`that males are involved in more automobile
`accidents.
`
`Check with your company to find out if they
`offer discounts to young operators if they have
`completed a driver's education course. These
`courses are usually available through public high
`schools. Discounts may also be offered for stu-
`dents who maintain good grades. Also, discounts
`may be offered for students who attended school
`more than 100 miles from home and who do not
`have a vehicle at school with them.
`
`AUTOMOBILE INSURANCE II
`
`Page 000012
`
`
`
`

`
`Premiums
`
`If your young driver attends school away from
`home and has taken an automobile along, you
`will be charged the rates for their coverage in
`the area where they go to school. For example,
`if you live in Pensacola and your son or daughter
`attends school in Miami you will be charged
`Miami rates for his or her coverage.
`
`Discounted Rates For Seniors
`
`Ifyou are 65 or older,'you may be eligible for
`reduced rates by successfully completing a Motor
`Vehicle Accident Prevention Course approved by
`the Department of Highway Safety and Motor
`Vehicles. Effective January 1, $989, the eligible
`age is reduced to 55.
`There are two courses approved by the Depart-
`ment of Highway Safety for this program. One
`course — 55 Alive — is offered by the American
`Association of Retired Persons. Another course
`
`-— Mature Driver — is offered by the National
`Safety Council. For more information on these
`courses, Contact your local AARP chapter or Safe-
`ty Council office.
`The premium reduction will be effective for a
`3-year period. To keep the discount, you must not
`be responsible for an accident or convicted of a
`moving traffic violation and you will have to
`retake and successfully complete the course at
`the end of each 3-year term.
`You cannot qualify for the discount if you are
`mandated by the court to take the course as a
`result of a traffic violation.
`
`Some companies also offer discounts for senior
`drivers who are retired or who drive only dur-
`ing the daytime. To find out about reduced rates
`offered by your insurance company, contact your
`agent.
`
`Read your policy, and ask your agent
`to explain what benefits your policy will
`pay and wh at conditions may be ex-
`cluded from the policy. If you still have
`questions, contact one of the Insurance
`Consumer Service Offices listed at the
`
`end of this guide.
`
`
`
`12 AUTOMOBILE l'NS'URANCE
`
`Page 000013
`
`

`
`
`1’ Samle Ra-es
`
`
`
`Auto insurance premiums vary widely.
`Many factors are used when premiums are deter-
`mined. They include your age, sex, marital
`status, driving record, use of the car, number of
`miles the car is driven, the make and model year
`of the car, and the area where you live.
`Following are sample rates for a sample driver
`in 12 areas in Florida. Your premiums will pro-
`bably be different from the ones in this guide
`because of your age, your driving record, the kind
`of car you own and the area where you live.
`The sample rates are intended to show how
`premiums differ among companies. When buy-
`ing auto insurance, conduct your own survey by
`comparing rates and benefits fromseveral com-
`panies. Remember, more than 400 companies are
`licensed to sell auto insurance in Florida.
`
`Sample Driver
`
`The sample driver is an adult, 40Lyear-old male,
`whose car will not be driven by a young operator.
`The driver has not had any violations during the
`past three years. The car is a 1988 model,
`originally costing $11,000 and driven
`8,000 miles annually.
`
`Sample Coverage
`
`Coverage includes:
`0 $10,000 no-fault protection with no deductible;
`'
`liability coverage for bodily injury and proper-
`ty damage with split limits of $10,000 for one per-
`son’s injuries, $20,000 for all persons’ injuries
`and $10,000 for property damage (also called
`10f20.’1O protection);
`' uninsured motorist coverage with split limits
`of $10,000 for one injured person and $20,000 for
`all injured persons;
`0 collision coverage with a $250 deductible;
`° comprehensive coverage for non—collision
`losses (excluding towing and labor) with a $100
`deductible.
`
`Note these differences in sample coverage:
`0 State Farm Mutual’s rates include a one time
`
`membership fee of $15.
`* Allstate Indemnity’s rates include a policy fee
`of $25.
`
`Sample Premiums
`
`The sample premiums shown are among
`Florida's largest-volume auto insurance com-
`panies —- based on premiums written — plus the
`Florida Joint Underwriting Association. The pre-
`miums shown are for the sample driver in 12 dif-
`ferent Florida cities or counties.
`
`The sample rates are intended to show how
`premiums differ among companies and to en-
`courage you to shop around for auto insurance.
`Florida insurance companies not included in this
`guide may be quite competitive with the samples
`shown here.
`
`The sample premiums are paid annually,
`rounded off to the nearest dollar, and assumes
`the premiums for the annual period are paid in
`full at the start.
`
`to
`The premiums shown here are subject
`change. Companies may have entered or left the
`market since this guide was published and par-
`ticular products may or may not still be offered.
`The annual premiums shown in this guide are
`based on the rates in effect as of June 15, 1988.
`
`Sample Areas
`
`Auto insurers may not engage in unfair dis-
`crimination, but they do charge different pre-
`miums in different areas because of such factors
`
`as frequency of accidents, medical expenses and
`repair costs. Your area is where you principally
`garage your car.
`The sample premiums are for 12 areas in Flor-
`ida. If you do -not live in one of these areas, you
`may still assume that prices vary by company.
`A company may also charge different rates for
`different areas in the same city.
`
`Sample Companies
`
`Facts about the companies whose prices are
`shown in the sample:
`0 United Services Automobile Association
`
`(USAA) specializes in providing coverage for
`military officers, their dependents and a few
`other groups.
`
`AUTOMOBILE INSURANCE 13
`
`Page 000014
`
`

`
`Sample Rates
`
`0 Government Employees Insurance Company
`(GEICO)
`is not affiliated with the U.S.
`Government.
`
`0 Companies whose premiums rank them near
`the bottom of the list tend to specialize in insur-
`ing higher-risk drivers, which makes their prices
`higher than companies at the top of the list.
`0 It is possible a company might offer a more
`competitive price on a particular policy not
`shown in this guide.
`
`0 The Florida Joint Underwriting Association
`(FJUA) was created by law to carry out a pro-
`gram for providing automobile insurance to qual-
`ified applicants who have trouble getting insur-
`ance through ordinary methods. The FJUA con-
`sists of
`the insurance companies that are
`authorized to write automobile insurance in
`Florida. Most Florida agents writing auto in-
`surance can place you in the FJUA if it is
`necessary to do so. Therefore, please do not con-
`tact the insurance companies or the FJUA Staff
`Office for coverage in the FJUA — CONTACT
`YOUR AGENT.
`
`
`
`PIP Liab UM Coll Comp Total
`
`Company Name
`
`PIP Liab UM" Coll Comp Total
`
`Company Name
`
`14 AU?‘()MOBILE INSURANCE
`
`Page 000015
`
`

`
`Sample Rates
`
`Company Name
`
`PIP Liab UM Cbll Comp Total
`
`Company Name
`
`PIP Liab UM (3011 Camp Total
`
`{I}
`
`6‘
`
`3
`
`$
`
`$
`
`*$
`
`Gk
`
`3
`
`S
`
`$
`
`$
`
`3
`
`'CompanyNnn1e
`
`PIP Liab UM Coll Comp Total
`
`Company Name
`
`PIP Liab Inn 0011 Camp Total
`
`$
`
`$
`
`$
`
`3
`
`S
`
`$
`
`it
`
`$
`
`$
`
`$
`
`5
`
`$
`
`
`
`
`
`
`
`AUTOMOBILE INSURANCE’ 15
`
`Page 000016
`
`

`
`_?_*
`Sample Rates
`
`Company Name
`
`PIP Liah UM Coll Comp Total
`
`Company Name
`
`PIP Liah UM Coll Comp Total
`
`'0'!
`
`'69
`
`Q0
`
`3
`
`$
`
`Q»
`
`09
`
`-3
`
`$
`
`-3
`
`$
`
`3
`
`Company Name
`
`PIP Liab UM Coll Comp Total
`
`Company Name
`
`PIP Liab UM 0011 Camp Total
`
`9
`
`fl
`
`69
`
`-69
`
`£9
`
`6}
`
`-99
`
`in
`
`_
`
`-ED
`
`_
`
`._as
`
`.2*9’
`
`-59
`
`_
`
`
`
`16' AUTOMOBILE INSURANCE
`
`Page 000017
`
`

`
`Sample Rates
`
`Company Name
`
`PIP Liab UM Coll Comp Total
`
`
`Company Name
`PIP Lia}: UM Coll Comp Total
`
`$
`
`$
`
`3
`
`$
`
`3
`
`ii
`
`$
`
`$
`
`$
`
`$
`
`$
`
`$
`
`In
`
`II
`
`Iillllsllllllll‘
`
`
`1-800-342-2762
`
`AUTOMOBILE INSURANCE 17
`
`Page 000018
`
`

`
`Guide Order Form
`
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`
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`
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`
`DAYTONA BEACH
`955 Orange Ave.,
`Suite M
`
`Daytona Beach 32014
`904E254-3920
`
`FORT LAUDERDALE
`200 Southeast 6th St.
`Suite 404
`Fort Lauderdale 33304
`305/467-4339
`
`FORT MYERS
`2180 West First Street
`Suite 208
`
`Fort Myers 33901
`813K337-5339
`
`JACKSONVILLE
`111 Coast Line Drive East
`Suite 410, Box 40
`Jacksonville 32202
`904E359-6146
`
`MIAMI
`401 NW. Second Ave.
`Suite N307
`Miami 33128-1700
`305K377-5235
`
`ORLANDO
`400 W. Robinson St.
`Suite 401
`Orlando 32801
`407/423-6105
`
`PENSACOLA
`160 Governmental Center
`Suite 515
`Pensacola 32501
`904E436-8040
`
`ST. PETERSBURG
`3160 5th Avenue North
`Suite 135
`St. Petersburg 337 13
`813893-2351
`
`TAMPA
`
`1313 N. Tampa St.
`Suite 809
`
`Tampa 33602
`813f272-2330
`
`WEST PALM BEACH
`
`111 Georgia Ave.
`Suite 209
`West Palm Beach 33401
`4017837-5045
`
`TALLAHASSEE
`Department of Insurance
`LL-25, The Capitol
`Tallahassee 32399-0300
`90-H488-0030
`
`Page 000019
`
`

`
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`Florida Department of Insurance
`Bill Gunteir. Commissioner
`
`The Capitol
`Tallahassee, Florida '
`32399-0300
`
`fig ___/}
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`$0. I7 per copy, for the information and education of Florida Cons:imers.9:‘88
`
`Page 000020