GAP insurance is a type of coverage that protects you from taking a loss if you get into an accident shortly after purchasing a new car or taking delivery of a leased vehicle.

Florida car insurance normally covers the cash value of a vehicle as spelled out in your insurance policy. If you buy a new car, drive it off the lot and get into an accident, there could be a difference in the amount you owe on the loan and the amount of your car insurance settlement.

Why is this? Because cars lose value the moment you drive them away from the dealership. Your Florida car insurance doesn’t cover the amount of the loan you took out to buy the car, it covers the retail cash value of the vehicle. Some sources say a new car drops in value as much as 30% –just for driving it off the dealer lot.

That’s where GAP insurance comes in. With GAP insurance you are covered for the difference between the cash value of the car and the amount left outstanding on a new car loan or car lease. Read more »

If you are contemplating a new auto insurance company, take a good look at this CNN report by Anderson Cooper. We can’t stress enough the importance of knowing the specific terms of your auto insurance policy before you commit. Florida auto insurance companies can’t be taken at face value–you should check the local reputation of a potential insurer. What do other customers say about the company in local Internet forums? What about your local Chamber of Commerce? Get some informed opinions first, then check out the insurance company to see if they are a good match.

In this clip, Anderson Cooper takes some real-life examples of auto insurance horror stories. Let the driver beware!

Florida auto insurance policies are full of options such as car rental while your vehicle is in the repair shop, towing services and other extras. Are these options worth the additional money you pay on your Florida car insurance premiums?

Should you pay the extra money? Before you can answer yes or no, a bit of research is in order. Who wants to pay for extras if they aren’t needed? Read more »

Your Florida auto insurance policy has rules covering secondary drivers–the other people who operate your vehicle when you aren’t behind the wheel. Do you know who is covered and who isn’t when it comes to your car? What does your Florida auto insurance policy say about secondary drivers? Read more »

Florida auto insurance laws dictate minimum coverage amounts for liability insurance protection.

But insurance laws don’t force Florida drivers to buy insurance in amounts large enough to save you from going bankrupt in case of a major accident. How much will you pay if your coverage is too low? Do you know what the average amount of liability insurance payouts are after a typical car accident in Florida? Read more »

If you’re in the market for Florida car insurance, there are a few things you should seriously consider when it comes to your Florida auto insurance deductible. Setting a car insurance deductible is tricky business–you have to balance out the size of your monthly payment with the amount you’re likely to pay if you get into a car accident.

What’s the best deductible amount for car insurance? There’s no set answer, but you should ask yourself a few important questions before deciding:
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According to the Florida Highway Safey and Motor Vehicles official site, there are many things you’ll need to do when registering a vehicle for the first time in Florida. Florida auto insurance is a must. You’re required to have Florida car insurance coverage when registering; you can’t have Georgia auto insurance or Texas car insurance. State law requires you to have in-state coverage.

Florida auto insurance minimum coverage includes a $10,000 personal injury protection policy also known as PIP for short. You must also carry $10,000 property damage liability Florida car insurance. You’ll be required to have this coverage as long as your car carries Florida tags. Read more »

Welcome to Florida Auto Insurance Now, your source for answers about Florida insurance laws, types of car insurance coverage, and much more. If you’re looking for a Florida car insurance agent, keep watching this space.
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