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Auto Insurance FL Regulations

Like most states, the State of Florida requires its drivers to maintain auto insurance FL financial responsibility for their actions while on the road. However, unlike most states, regulators of auto insurance FL do not require their drivers to maintain bodily injury liability coverage. When it comes to auto insurance FL, this no-fault state requires drivers to maintain auto insurance FL personal injury protection coverage, along with auto insurance FL property damage liability as auto insurance FL coverage.

Auto Insurance FL: Personal Injury Protection

When considering auto insurance FL, personal injury protection (PIP) is a no-fault insurance coverage that insures drivers and their passengers against injuries incurred during an accident. Unlike bodily injury liability auto insurance FL coverage, personal injury protection pays regardless of fault, which in turn allows payments under this auto insurance FL coverage to occur before the accident investigation is complete. A fairly comprehensive auto insurance FL coverage, PIP also protects policyholders, and their children, and listed household members from injuries caused as a pedestrian and while riding buses.

Auto Insurance FL: Property Damage Liability

Another thing to consider when shopping for auto insurance FL, is property damage liability. Property damage liability is an at-fault auto insurance FL coverage that insures the other party against damages caused by the policyholder’s negligence. This auto insurance FL coverage insures only property damage, such as the other party’s vehicle, lampposts, etc. With auto insurance FL at fault coverage, property damage liability auto insurance FL payments are often delayed until the claim’s investigation is complete.

Auto Insurance FL: Bodily Injury Liability

Although it is not mandatory to have when considering which auto insurance FL coverage to get, bodily injury liability can be life and money saver. This at fault auto insurance FL coverage insures the other party for the injuries and rehabilitation costs incurred as a result of the policyholder’s negligence. The auto insurance FL coverage pays up to the selected coverage limit for medical costs, rehabilitation costs, doctors and emergency visits and funeral costs incurred. In addition, bodily injury liability auto insurance FL provides the policyholder with legal representation and reimburses certain legal expenses incurred due to litigations resulting from the at-fault accident.

Auto Insurance FL: Florida Coverage

The term “Florida coverage” or auto insurance FL is often used to describe Florida’s minimum financial responsibility requirements for auto insurance FL. However, Florida’s no-fault status is often misleading to drivers. Although drivers are not required to carry bodily injury liability auto insurance FL coverage, they are required to be financially prepared to pay for the not at-fault party’s injuries after all personal injury protection coverages are exhausted. To meet Florida’s auto insurance FL financial responsibility requirements using auto insurance FL, drivers must carry bodily injury liability limits of no less than $10,000 per person with $20,000 per accident, along with property damage liability of at least $10,000 and personal injury protection of at least $10,000. These auto insurance FL requirements apply not only to Florida’s registered vehicle owners and licensed drivers, but to out-of-state drivers that maintain a vehicle within the state of Florida for more than 90 days.

Auto Insurance FL: Alternatives

Auto insurance FL isn’t the only way to meet Florida’s financial responsibility requirements. Drivers can also elect to certify their financial responsibility with the Florida Bureau of Motorist Compliance. To do so, drivers must choose to self-insure by presenting a notarized copy of their financial statement showing an unrestricted net worth of no less than $40,000. Drivers can also certify responsibility by depositing cash or securities in the amount of $30,000 with the Florida Bureau of Motorist Compliance or by securing a surety bond with bodily injury liability auto insurance FL limits of $10,000 per person and $20,000 per accident, and $10,000 for property damage liability as auto insurance FL.

Auto Insurance FL: Noncompliance

Drivers that fail to comply with the auto insurance FL financial responsibilities can be subject to immediate suspension and revocation of all driving and registration privileges. Not only must drivers secure auto insurance FL coverages to restore privileges, noncompliant drivers are subject to penalties and fines that can include reinstatement fees for auto insurance FL up to $500 and a 12-month license suspension.

Auto Insurance FL: Considerations

When it comes to the state with the most drivers, Florida was ranked #3 by the U.S. Department of Transportation with nearly 13 million auto insurance FL drivers. The Insurance Research Council reports that approximately 23 percent of Florida’s 13 million drivers go without auto insurance FL coverage. To ensure proper auto insurance FL protection, it is always a good idea to carry auto insurance FL liability limits that are higher than the state’s minimum coverage requirements. Policyholders can also elect to carry uninsured and underinsured auto insurance FL coverages on their auto insurance FL policies. These auto insurance FL coverages provide additional protection to the policyholder when they are struck by a driver who does not have auto insurance FL coverage or does not have enough insurance coverage to cover the damages and injuries caused by their negligence.