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Florida Car Insurance Requirements

Florida Minimum Car Insurance Requirements

The state of Florida functions a little differently than other states when it comes to mandatory car insurance laws. In Florida, you must carry property damage liability (PDL) and personal injury protection (PIP) in order to drive legally. The state-mandated minimums you have to carry as a Florida driver are outlined below.

  • $10,000 in property damage liability (PDL)
  • $10,000 in personal injury protection (PIP)

Florida is a no-fault state, meaning car insurance policies are more focused on protecting you instead of other drivers. In other states, after an accident, you would file your claims with the other driver’s insurance company for a payout. In no-fault states, everyone sticks to their own insurance company. On top of carrying the mandated insurance, you must also be ready to provide proof of insurance when asked.

Florida Personal Injury Protection (PIP)

Florida is one of the few states that require drivers to carry PIP coverage, but with being a no-fault state, it does make some sense. PIP insurance helps to cover any medical expenses you and your passenger(s) accumulate due to an accident. Typically, in other states, the bodily injury liability insurance the other party carries would pay for these costs, but in Florida, your insurance is responsible for them. PIP coverage may also expand to lost wages and funeral expenses but does not offer pain and suffering compensation.

Florida Property Damage Liability (PDL)

The state of Florida does mandate one form of liability insurance, and that is for property damage. In the event that you cause an accident, your property damage liability (PDL) insurance would pay for damage to the other driver’s vehicle. Usually, liability insurance is comprised of both property damage and bodily injury coverage. But in the state of Florida, bodily injury liability insurance is replaced with PIP coverage.

Florida Diminished Value Policy

Florida is also what is known as a diminished value state, meaning that drivers can recover diminished value from the at-fault driver’s insurance. After an accident, even if your car is fully restored, its resale value takes a serious hit. When you go to sell your car, if you experience any losses, you can try to file a claim with the other party’s insurer. Florida is one of 15 states that allow you to attempt to recoup these monetary losses. There are certain requirements you must meet in order to make a successful claim:

  • You were not the at-fault party in the accident.
  • You can provide substantial documentation of the accident, including records, photos, and receipts.
  • It has been less than 4 years since the accident.
  • The state of Florida does not have uninsured motorist coverage for these claims.

Car Insurance Limits in Florida

Nearly every state requires every driver to carry to a certain minimum amount of liability insurance coverage. Florida is no exception. The state limit is the lowest amount of insurance you can carry in order to be a legal driver. These can be adjusted as you see accordingly and it is highly recommended you go beyond the state-mandated minimum. As we have discussed, there are two types of insurance you must carry in the state of Florida. They each have their own coverage limits you must meet.

Is Florida’s Mandatory Insurance Minimums Enough Coverage?

The insurance requirements in Florida are quite low and insubstantial compared to other states. It is recommended you consider expanding your coverage limit and adding other types of insurance to your policy. If you only carry what Florida mandates, you could be facing some financial issues. Whatever is not picked up by insurance can come back to you, and you could be expected to pay out of pocket. If the bodily injuries caused in the accident are severe enough, the other driver may also be able to sue you if their PIP insurance will not cover medical expenses in their entirety. A $10,000 PIP limit will not be enough, neither will that be adequate to cover property damage. In order to make sure you and your finances are fully protected, you will have to increase your coverage.

Driving Without Proof of Insurance in Florida

Driving without insurance in the state of Florida can have some pretty harsh penalties. The chart below outlines what you could be facing if you fail to carry the required car insurance in Florida.

Consequences
1st Offense
2nd Offense
3rd Offense
License Suspension
Up to 3 years
Up to 3 years
Up to 3 years
Reinstatement Fees
$150
$250
$500

Following failing to provide proof of insurance, the state of Florida may also require you to maintain an SR22 insurance policy for a set period of time. You could also be asked to carry additional insurance under the Florida Financial Responsibility Law. Your insurance rates will also most likely go up.

Additional Types of Car Insurance in Florida

While the state of Florida only requires you to carry PIP coverage and PDL insurance, there is a number of other types of insurance you can add to your policy for better coverage. Listed below are some common types of insurance to add to your policy.

  • Collision: This coverage helps pay for damages to your car after an accident, no matter who was responsible.
  • Comprehensive: Comprehensive covers your vehicle after it sustains damage when it is not in use. This includes perils such as weather damage and theft. It can be purchased alongside collision to obtain what is known as "full coverage" auto insurance.
  • Bodily Injury Liability: Covers injuries the other driver and their passenger(s) sustain in an accident that you were responsible for.
  • Medical Payments: This coverage helps pay the medical expenses of you and your passenger(s).
  • Uninsured Motorist Coverage: Despite insurance being mandated in many states, millions of drivers choose to forego obtaining a policy. For this reason, uninsured motorist coverage can help pay for damages and injuries after an accident with a driver lacking insurance. Usually, you would file claims through their policy, but in this case, there isn't a company to assist you.
  • Roadside Assistance: Specific coverage under roadside assistance varies from company to company, but, in general, this insurance will help you with mechanical issues your car experiences. It will assist you with things like flat tires and dead batteries.

CARCO Inspection

Florida is one of the few states that requires a CARCO inspection. A CARCO inspection is an independent inspection to verify your vehicle exists and looks into its options, accessories, mileage, and physical condition. After a report is produced, it is sent off to your insurance company. This inspection could be required when trying to obtain comprehensive and collision coverage. Its main task is to prevent fraud in the world of insurance.

Car Insurance is Important For Any Florida Driver

Failure to maintain the required insurance for the state of Florida can come with some pretty severe consequences. Not only will you be facing fines and license suspension, but accidents are very costly. In order to protect you and your assets, it would be very wise to obtain adequate car insurance. Do not settle just for what Florida mandates. While it is a good place to state, medical bills and car repair costs can easily go beyond what the policy will cover. Always make sure your coverage limits are enough, and the policy add-ons you obtain are substantial.

*This product may not be available in every state, please call an agent for more information.

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