A combination of factors are responsible for making Miami car insurance quotes and rates unique from any other city. These situations materially affect the automobile insurance premium.
As the only Florida city to rank on the top 10 list for traffic congestion, Miami placed No. 9 in a report by the Texas Transportation Institute. An increased number of cars moving about boost the chance for accidents. Also, traffic leads to driver aggression caused by frustration and impatience and this too increases the chance for accidents.
The sub-tropical climate in Miami makes it different from other major USA cities. Approximately 12 million visitors per year ranks Miami, Fl as one of the nations top vacation destinations. Florida’s tourism industry provides a huge rental car market. Thousands of people driving in unfamiliar vehicles and surroundings are a combination that increases the likelihood of accidents.
There are a staggering number of people from another country who live in Miami, Florida permanently. In 2006 Miami-Dade County, Florida had the highest percentage (50.3 percent) of foreign born residents relative to the total state population (Migration Policy Institute). Many of these drivers do not speak English, do not understand the “rules of the road”, and never obtain a Florida drivers license. These realities increase the hazard of car accidents.
The climate in Miami, Fl not only attracts tourists and foreign nationals, it is a haven for senior citizens. As older drivers age, experience and caution does not compensate fully for impaired eyesight and slow reflexes. Once again, the chances for an accident are increased by this fact.
According to the National Insurance Crime Bureau (NICB), Miami, Florida is the number one city for automobile theft. The port of Miami and an elevated number of high profile vehicles in the area contribute to this unsettling statistic. Higher risk necessarily translates to higher insurance premium.
Fraud and abuse have permeated Personal Injury Protection (PIP) coverage which is required by Florida law. Medical, legal and other escalating costs associated with PIP materially affect the auto insurance premium in the Miami, Fl area. The Florida Department of Insurance has battled against this fraud for decades without much success.
Not all the aspects outlined are exclusive to the Miami, Fl area, however, the combination of them make Miami car insurance quotes and rates unique.