Best Insurance for a Nissan GT-R in Orlando

It takes a little time, but the best way to find discount car insurance rates in Orlando is to start doing a yearly price comparison from companies in Florida. You can compare rates by following these guidelines.

• First, try to comprehend auto insurance and the measures you can control to prevent rate increases. Many policy risk factors that drive up the price such as speeding tickets, accidents and a lousy credit rating can be controlled by being financially responsible and driving safely.
• Second, compare prices from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give prices from a single company like GEICO and Allstate, while agents who are independent can quote rates for a wide range of insurance providers.
• Third, compare the new rate quotes to the premium of your current policy to determine if you can save on GT-R insurance in Orlando. If you find better rates and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
• Fourth, provide proper notification to your current company of your decision to cancel your current auto insurance policy and submit payment and a completed application for your new policy. Immediately upon receiving it, safely store the certificate of insurance along with the vehicle’s registration papers.

The most important part of shopping around is to make sure you enter the same amount of coverage on every quote and and to look at as many car insurance companies as possible. Doing this ensures a level playing field and maximum price selection.

Unimaginable but true, almost 70% of insureds have been with the same company for well over three years, and roughly 40% of drivers have never taken the time to shop around. With the average premium in Florida being $2,160, drivers could save approximately 55% a year just by getting comparison quotes, but they mistakenly think it’s difficult to shop their coverage around.

If you are already insured or are looking for a new policy, use these money-saving tips to find the best rates and still have adequate protection. Locating the best rates in Orlando is not rocket science. Comparison shoppers just have to learn the tricks to shop instantly.

Smart Choices Result in Lower Insurance Prices

Many things are part of the equation when you get your auto insurance bill. Some are obvious such as your driving history, but other criteria are less obvious like your vehicle usage or your commute time.

Shown below are a few of the things companies use to determine your premiums.

Gender matters – Statistics demonstrate that men are more aggressive behind the wheel. However, don’t assume that males are worse at driving than females. Women and men are responsible for fender benders at a similar rate, but men tend to have more serious accidents. They also get more serious tickets such as DWI and reckless driving.

The information below visualizes the comparison of Nissan GT-R car insurance rates for male and female drivers. The costs are based on a clean driving record, no claims, comp and collision included, $100 deductibles, single status, and no policy discounts are applied.

You might have higher rates if you are single – Being married can actually save you money on your car insurance policy. It translates into being more mature and responsible and it’s statistically proven that drivers who are married file infrequent claims.

Multiple policies with one company can save – Lots of insurers provide lower prices for people that have more than one policy such as combining an auto and homeowners policy. Even with this discount applied, it’s always a smart idea to get quotes from other companies to guarantee you are still saving the most.There is a chance you can find a better deal by splitting coverages up.

Credit history impact car insurance rates – Credit history can be a huge factor in determining your rates. People that have good credit tend to be more responsible and file fewer claims than drivers with lower credit scores. If your credit history could use some work, you could save money insuring your Nissan GT-R by improving your rating.

Nissan GT-R claim data – Insurance companies take into consideration insurance loss statistics for every vehicle when determining insurance rates. Models that statistically have high amounts or severity of claims will have higher rates. The next table shows the loss history for Nissan GT-R vehicles.

For each policy coverage type, the claim amount for all vehicles compiled together is represented as 100. Percentages below 100 represent a good loss history, while percentage values above 100 point to more frequent losses or a tendency for claims to be larger.

Nissan GT-R insurance statistics and information

The data table shown below outlines detailed analysis of insurance prices for Nissan GT-R models. Being able to understand how insurance rates are determined can aid in making smart choices when selecting a coverage provider.

Prices based on married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Rates do not factor in Orlando location which can decrease or increase premium rates substantially.

Deductible comparison

When shopping for auto insurance, a common question is how high should your deductibles be. The tables below outline the differences in premium rates between high and low insurance deductibles. The first rate quote example uses a $250 physical damage deductible and the second price table uses a $1,000 deductible.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Florida minimum liability limits. Discounts applied include multi-vehicle, claim-free, homeowner, safe-driver, and multi-policy. Table data does not factor in your specific Orlando location which can impact insurance rates significantly.

We can derive from the above data that using a $250 deductible will cost in the ballpark of $54 more each month or $648 annually than opting for the higher $1,000 deductible. Because you would be required to pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you average more than 14 months between claims, you would save money if you elect the higher deductible.

The diagram below highlights how deductible selection and can raise or lower Nissan GT-R insurance costs for different age groups of insureds. The information is based on a single male driver, full coverage, and no discounts are applied to the premium.

Nissan GT-R full coverage rates compared to liability only

The information below illustrates the difference between Nissan GT-R insurance costs when comparing full coverage to state minimum liability only. The premium estimates are based on a clean driving record, no at-fault accidents, $100 deductibles, drivers are not married, and no additional discounts are factored in.

When to drop comprehensive and collision

There is no exact formula for dropping comp and collision coverage, but there is a general guideline. If the yearly cost for physical damage coverage is 10% or more of the vehicle’s replacement cost less your deductible, then it’s probably a good time to buy liability coverage only.

For example, let’s pretend your Nissan GT-R book value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company would pay you is $4,000 after paying your policy deductible. If premium cost is more than $400 a year for comprehensive and collision coverage, then you may need to consider dropping full coverage.

There are some cases where dropping full coverage is not recommended. If you still have a lienholder on your title, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage on your policy.

Affordable rates by taking advantage of discounts

Not too many consumers would say insurance is affordable, but you may be missing some discounts to help bring down the price. Certain credits will be shown when you get a quote, but some discounts are required to be asked about before you get the savings.

• Discount for Swiching Early – A few insurance companies offer discounts for buying a new policy prior to your current GT-R insurance policy expiring. Ten percent is about the average savings.
• Discount for Life Insurance – Not every insurance company offers life insurance, but if they do you may earn a discounted premium rate on car insurance if you buy some life insurance in addition to your auto policy.
• Membership in Organizations – Belonging to qualifying employment or professional organizations could qualify you for a break on your policy.
• Distant College Student Discount – Older children who are attending college and do not have access to a covered vehicle could get you a discount.
• Safety Restraint Discount – Using a seat belt and requiring all passengers to buckle up could save 15% off the personal injury premium cost.
• Low Mileage Discounts – Low mileage vehicles can earn lower insurance rates on the low mileage vehicles.
• No Charge for an Accident – Not a discount per se, but companies like GEICO and Liberty Mutual will turn a blind eye to one accident without raising rates with the catch being you have to be claim-free prior to the accident.

It’s important to note that some credits don’t apply to the overall cost of the policy. Most only reduce specific coverage prices like liability, collision or medical payments. Even though it appears it’s possible to get free car insurance, it’s just not the way it works.

The illustration below visualizes the comparison of Nissan GT-R premium costs with and without discounts applied to the rates. The premiums assume a female driver, no claims or violations, Florida state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, homeowner, claim-free, multi-policy, safe-driver, and marriage discounts applied.

Large insurance companies and some of the discounts can be found below.

• GEICO may have discounts that include seat belt use, daytime running lights, multi-policy, driver training, and membership and employees.
• MetLife offers premium reductions for defensive driver, good driver, good student, multi-policy, and claim-free.
• State Farm includes discounts for student away at school, defensive driving training, good student, Steer Clear safe driver discount, Drive Safe & Save, and anti-theft.
• Progressive may offer discounts for good student, homeowner, multi-vehicle, online quote discount, online signing, and multi-policy.
• Mercury Insurance discounts include anti-theft, location of vehicle, multi-policy, good driver, annual mileage, ease of repair, and accident-free.
• 21st Century has discounts for early bird, automatic seat belts, air bags, driver training, homeowners, and theft prevention.
• Allstate has savings for premier discount, passive restraint, teenSMART discount, safe driver, and EZ pay plan discount.

If you are trying to find cheaper Orlando auto insurance quotes, ask each company how many discounts you can get. A few discounts may not apply to policies in your state. For a list of insurance companies who offer cheap Nissan GT-R insurance quotes in Florida, click this link.

More effort can pay off

Lower-priced Nissan GT-R insurance in Orlando can be found online as well as from independent agents in Orlando, and you should compare rates from both to get a complete price analysis. A few companies may not provide rates over the internet and usually these regional carriers only sell coverage through local independent agents.

As you prepare to switch companies, you should never skimp on coverage in order to save money. There are too many instances where an accident victim reduced comprehensive coverage or liability limits only to regret they didn’t purchase enough coverage. Your goal should be to buy enough coverage at a price you can afford.

Other learning opportunities

• A Tree Fell on Your Car: Now What? (Allstate)
• Who Has the Cheapest Auto Insurance for a Jeep Grand Cherokee in Orlando? (FAQ)
• What Insurance is Cheapest for Felons in Orlando? (FAQ)
• How Much are Auto Insurance Rates for a Toyota RAV4 in Orlando? (FAQ)
• Determining Auto Insurance Rates (GEICO)
• Child Safety FAQ (iihs.org)