Florida Auto Insurance
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Florida Auto Insurance Requirements
In Florida, the land of fun and sun, the roads are always crowded with tourists as well as seasonal and full-time residents. Not surprising, all that traffic means drivers get into lots of accidents. Here’s an overview of what Florida drivers need in terms of auto insurance.
Florida No-Fault
As a “No-Fault” state, Florida law requires drivers to buy just two types of insurance: PIP and PDL. Only $10,000 of minimum coverage is required for each. Under Florida law, both types of coverage must be continuous during the entire licensing and registration periods.
Florida PIP and Florida PDL.
PIP or Personal Injury Protection is Florida’s No-Fault insurance. If you or household members are involved in an accident, even when on foot or bicycle, PIP pays bodily injury claims no matter who caused the accident. The insured’s children are also covered for injuries that occur while riding on a school bus. The insurer pays the policy’s allowable percentages for things like medical expenses, lost wages, funeral expenses, and death benefits up to the chosen coverage limits.
Percentages of Expenses
Different insurers cover different percentages of expenses. For example one insurer might cover up to 80% of the medical expenses, meaning that the insured pays the remaining 20%. Other insurers may offer coverage up to 100%, but the added coverage usually costs more. Some insurers pay only 60% of lost wages, while others may pay more. With so much variety, it’s important that Florida residents know what is and isn’t covered, what percentage the insurer covers, and how much the insured will have to pay out of pocket before signing any contracts.
Florida PDL (Property Damage Liability)
PDL or Property Damage Liability covers the cost to repair or replace property damaged by the insured or any of the insured’s eligible family members as a result of operating a motor vehicle.
Note that neither PIP nor PDL pay towards needed repairs to the insured’s vehicle. Although not required under Florida law, many motorists add optional Collision and Comprehensive to their auto insurance policies. Either cover repair or replacement costs for the insured’s vehicle, minus a deductible, when damage is caused by colliding with another vehicle or object (Collision) or when damage is caused by other reasons such as theft, weather, and vandalism (Comprehensive).
Florida Office of Insurance Regulation
More information on Florida auto insurance requirements can be obtained by calling the Office of Insurance Regulation at 800-342-2762 or by visiting the website at http://www.floir.com/.