Florida Insurance Requirements
- Bodily Injury Liability (BIL): $10,000/$20,000 Limit
- Property Damage Liability (PDL): $10,000 Limit
The state of Florida complies with a No-Fault insurance system which means that your auto insurance company will make payments for your claims no matter who’s at fault, up to a specific limit. Since nobody is found to be at fault, you end up losing a few of your legal rights to sue under a no-fault system. Specifics of a no-fault system change by state.
To aid payment for the costs created from an auto accident, PIP is included in auto insurance policies. Laws in the state of Florida require a minimum Personal Injury Protection (PIP) coverage of $10,000 for one driver and $20,000 for all persons in the accident.
To protect yourself on the chance that you are in an accident with somebody who either does not currently have insurance or doesn’t have enough insurance to pay for related costs, you should look into adding Uninsured Driver auto insurance policy to your Florida auto insurance policy coverage. This auto insurance coverage is nonobligatory, but can help lower costs if you are in an accident with an uninsured motorist.
The usual U.S. insurance premium in 2003 was $914. The usual insurance premium in Florida was $1,104 - about $200 greater. There are many of Floridians that incorrectly think that they don’t have control in lowering their insurance costs.
Auto insurance quotes in Florida can deviate from person to person and one insurer to the next. To discover the cheapest quotes, you need to shop rates online or call a licensed auto insurance agent. Leading auto insurance firms also furnish a smorgasbord of auto insurance deals that you might be entitled to.
In 2007, there was an average lowering of .5%-1% from the year before. This was the first reduction in auto insurance rates since 1999. However, these decreases were temporary as in 2008 and 2009, insurance rates once again began to go up. The singular way to always have the best insurance costs is to shop. Every year, drivers should be comparing quotes on the web or contact a licensed insurance broker.. Using the net can help you see if you’re overpaying for auto insurance and if you can get deals.
You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.