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. 

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.

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.

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.