Auto insurance companies may create a unique rate for each client based on age, accident history, and insurance history…but many consumers forget that your garaging address and zip code are also factors of the rate you’re offered for auto insurance in Florida. So what exactly is your garaging address and why is it used in rating your auto insurance premium? As your trusted Central Florida insurance advisors, here’s everything we think you should know about your garaging address.
What is it? A garaging address is where your car is parked for most of the time that it’s in your possession. It’s usually your home address. If you have two homes that you split your time living in, you should use the address of the home you spend MOST of your time living in.
Why does it matter? The address where your car spends most of its time is important to auto insurance companies in Florida because it allows them to calculate the likelihood of a theft, vandalism, or other type of incident occurring. It also gives the auto insurance company insight on what types of roads you’re spending most of your time driving on.
If you live in an urban area or a larger city, it’s more likely that your auto insurance rate will be a bit higher than if you lived in a suburban area that isn’t so densely populated. The crime rate in a highly populated city is generally higher and auto insurance underwriters take that into consideration when determining rates.
What can I do about it? Unfortunately, your garaging address is not something you can change. It’s important to keep your auto insurance company updated on where your vehicle is garaged. If you move into a new residence or the vehicle spends more time at a different home, be sure to notify your auto insurance company as soon as possible.
Auto insurance rates in the state of Florida have increased a bit across the board. Interested in seeing what our top auto insurance carriers have to offer? Email us at firstname.lastname@example.org and we’ll send you a quick questionnaire to get a timely, accurate and FREE quote!