Trying to find cheaper insurance for a Nissan Maxima in Florida can be a lot of work, but you can follow these tips to save time. There is a right way and a wrong way to compare car insurance rates and you need to know the quickest way to quote coverages for a Nissan and obtain the cheapest rates.
Analysis of Nissan Maxima rates
The coverage table below covers detailed analysis of insurance rates for Nissan Maxima models. Having a better idea how insurance rates are established can help customers make decisions on which coverage to buy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Maxima 3.5 S||$368||$588||$430||$26||$128||$1,540||$128|
|Maxima 3.5 SV||$368||$678||$430||$26||$128||$1,630||$136|
|Get Your Own Custom Quote Go|
Above prices assume married male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Florida minimum liability limits. Discounts applied include homeowner, multi-vehicle, safe-driver, claim-free, and multi-policy. Rate quotes do not factor in specific Tampa garaging location which can influence rates considerably.
Full coverage versus liability only rates
The information below visualizes the comparison of Nissan Maxima insurance costs with full physical damage coverage compared to only buying liability only. The information is based on no claims or driving violations, $1,000 deductibles, single status, and no policy discounts are applied.
When to stop paying for full coverage
There is no specific rule to delete physical damage coverage on your policy, but there is a general school of thought. If the annual cost of having full coverage is more than around 10% of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.
For example, let’s pretend your Nissan Maxima replacement value is $5,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would receive is $4,000 after paying your policy deductible. If you are paying more than $400 annually for comprehensive and collision coverage, then you might want to think about dropping full coverage.
There are some conditions where buying only liability insurance is not recommended. If you still have a lienholder on your title, you are required to maintain full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in the even your car is totaled, you should not buy liability only.
Check for these five money saving discounts
Insuring your vehicles can cost a lot, but you may qualify for discounts that many people don’t even know exist. A few discounts will be applied at the time of purchase, but a few must be asked for before you will receive the discount.
- Discount for Multiple Policies – If you combine your homeowners and auto policies and place coverage with the same company you will save 10% to 20% off each policy.
- Passive Restraints and Air Bags – Factory options such as air bags and/or automatic seat belt systems can get savings of more than 20%.
- Accident Forgiveness – This isn’t a discount exactly, but companies like State Farm, Progressive and GEICO will forgive one accident before your rates go up so long as you are claim-free for a certain period of time.
- Active Military Service – Having a family member in the military may qualify for rate reductions.
- Own a Home – Just being a homeowner can help you save on car insurance due to the fact that maintaining a home is proof that your finances are in order.
As a sidenote, most discount credits are not given to the entire policy premium. A few only apply to individual premiums such as liability, collision or medical payments. Despite the fact that it seems like you can get free auto insurance, company stockholders wouldn’t be very happy.
The illustration below shows the difference between Nissan Maxima insurance prices with and without some available policy discounts. The data is based on a female driver, a clean driving record, no claims, Florida state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, claim-free, multi-car, safe-driver, and marriage discounts applied.
If you would like to see a list of car insurance companies that offer discounts in Tampa, click here to view.
Specific coverage details
Learning about specific coverages of a auto insurance policy can be of help when determining appropriate coverage and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. These are typical coverage types found on the average auto insurance policy.
Uninsured and underinsured coverage
Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. This coverage pays for hospital bills for your injuries as well as damage to your Nissan Maxima.
Due to the fact that many Florida drivers only purchase the least amount of liability that is required (which is 10/20/10), their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.
This pays to fix your vehicle from damage from a wide range of events other than collision. You need to pay your deductible first then your comprehensive coverage will pay.
Comprehensive can pay for things like fire damage, damage from flooding, hail damage and theft. The highest amount your auto insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.
Coverage for medical payments
Coverage for medical payments and/or PIP reimburse you for immediate expenses for things like chiropractic care, ambulance fees, funeral costs and pain medications. They can be used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. They cover all vehicle occupants in addition to being hit by a car walking across the street. PIP is not universally available and gives slightly broader coverage than med pay
Liability auto insurance
This coverage will cover damage that occurs to other’s property or people. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 10/20/10 that translate to a $10,000 limit per person for injuries, a limit of $20,000 in injury protection per accident, and $10,000 of coverage for damaged property.
Liability coverage protects against claims like legal defense fees, medical expenses, court costs, repair bills for other people’s vehicles and loss of income. How much liability should you purchase? That is up to you, but buy higher limits if possible. Florida state law requires minimum liability limits of 10/20/10 but it’s recommended drivers buy better liability coverage.
The next chart shows why low liability limits may not be high enough to adequately cover claims.
Auto collision coverage
Collision insurance covers damage to your Maxima resulting from a collision with another car or object. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision coverage protects against things such as hitting a parking meter, rolling your car and sideswiping another vehicle. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. Drivers also have the option to bump up the deductible on your Maxima to bring the cost down.
Quote. Compare. Save.
In this article, we covered some good ideas how you can find lower-cost Nissan Maxima insurance in Tampa. The key concept to understand is the more you quote Tampa car insurance, the higher the chance of saving money. You may even be surprised to find that the most savings is with a small mutual company. These companies may cover specific market segments cheaper than the large multi-state companies such as Allstate and Progressive.
A few companies may not have online price quotes and usually these smaller providers only sell through independent agents. Budget-conscious Nissan Maxima insurance is definitely available both online and also from your neighborhood Tampa agents, so compare prices from both to have the best chance of lowering rates.
How to buy discount Nissan Maxima insurance in Tampa
It takes a few minutes, but the best way to get the cheapest Nissan Maxima insurance is to make a habit of comparing prices annually from insurance carriers who provide car insurance in Tampa. Drivers can shop around by following these guidelines.
Step 1: Try to learn a little about what is in your policy and the measures you can take to keep rates low. Many rating criteria that are responsible for high rates like your driving record and an imperfect credit history can be controlled by making lifestyle changes or driving safer.
Step 2: Quote rates from direct, independent, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from a single company like GEICO or State Farm, while independent agents can quote prices for a wide range of companies. View rates
Step 3: Compare the new quotes to the price on your current policy to see if a cheaper price is available. If you find a better price and make a switch, ensure coverage does not lapse between policies.
Step 4: Notify your current company of your intent to cancel your existing policy and submit a down payment and signed policy application to the new company. Once coverage is bound, safely store the certificate of insurance with your registration paperwork.
The key thing to remember is to try to compare similar limits and deductibles on every price quote and to quote with as many different companies as possible. Doing this helps ensure an accurate price comparison and the best rate selection.
Additional information can be read at these links:
- Things to Know Before you Cancel Insurance (Allstate)
- How Much is Auto Insurance for First-time Drivers in Tampa? (FAQ)
- How Much is Car Insurance for Postal Workers in Tampa? (FAQ)
- What Car Insurance is Cheapest for Drivers with Accidents in Tampa? (FAQ)
- Who Has the Cheapest Auto Insurance for High Risk Drivers in Tampa? (FAQ)
- Who Has Cheap Auto Insurance Rates for Hybrid Vehicles in Tampa? (FAQ)
- Honda warning system reduces insurance claims (Insurance Institute for Highway Safety)
- Driving in Bad Weather (Insurance Information Institute)