Guide to Florida Auto Insurance Laws and Requirements
Florida Insurance Requirements
- Bodily Injury Liability (BIL): $10,000/$20,000 Limit
- Property Damage Liability (PDL): $10,000 Limit
The state of Florida follows a No-Fault insurance system meaning your auto insurance underwriter will make payments for your injury claims regardless of fault, up to a certain limit. At times, people lose some of the rights to use legal action under a No-Fault system. The specifics of this type of legal system can be different for some other states, but the general concept is identical.
To facilitate payment for the expenses incurred from an auto accident, PIP is included in your auto insurance policy. In Florida, all drivers are required to cover PIP coverage of $10,000 to compensate a single person engaged in the accident and $20,000 for all persons involved in the accident.
Uninsured/Underinsured Motorist Bodily Injury coverage is for times when you’re involved in an auto accident with a motorist who does not carry insurance.This auto insurance coverage is nonobligatory, but can help decrease costs if you are in an accident with an uninsured and/or underinsured motorist.
In 2003, the average auto insurance premium in the US was $914,while the average Floridian layed out $1,104. Lots of Florida motorists incorrectly believe auto insurance rates are controlled and fixed on the state level, but this isn’t true.
Auto insurance quotes in Florida can deviate between different people and company to company. To go over if you could be getting discounts on rates, you must get rates on the internet. Several insurance underwriters also furnish an assortment of insurance deals that you may be entitled to.
In 2007, usual insurance rates saw their first decrease in about 8 years. In that year, mean costs decreased roughly .5% to 1%. However, the following year in 2008, auto insurance rates were again going up and continued to do so through the beginning of 2009.
Auto insurance websites help shoppers save money on their auto insurance. Sites like these let you quickly and easily get insurance costs from various auto insurance firms. You possibly may be able to acquire reduce insurance rates at another auto insurance underwriter and/or find that you’re eligible for select auto insurance deals.
