Florida Mandatory Auto Insurance

In the state of Florida, all drivers are required to have liability insurance and no-fault insurance that meets the state’s minimum requirements. In the state of Florida, the minimum requirements are as follows.

Liability Insurance

Florida minimum liability insurance requirements

  • $10,000 bodily injury for one person,
  • $20,000 bodily injury to two or more people,
  • $10,000 property damage liability.

The purpose of Liability insurance is to pay for the damages to others if you are in an accident for which you are at fault. When purchasing liability insurance you should consider purchasing more that the minimum required amounts. If you are in a serious automobile accident, you could be liable for all cost. Your liability includes medical cost, the cost of lost wages, funeral cost and the cost to repair or replace other people’s property. Other cost such as legal expenses or punitive damages will also be covered with liability insurance. These cost could easily exceed the minimum liability coverage amounts. It is advisable to carry at least $500,000 in liability insurance.

No Fault Insurance

Florida’s minimum no-fault insurance requirements

  • $10,000 for personal injury protection
  • $10,000 for property damage liability protection

The state of Florida requires you to get no-fault insurance to cover your vehicle and yourself if you suffer injuries or your vehicle is damaged in an accident.

Proof of Insurance

Florida has created the Bureau of Financial Responsibility (BFR) to ensure that drivers meet the state’s financial responsibility requirements. Florida requires auto insurance companies to provide insurance information to the BFR. If the BFR learns that the insurance has been cancelled or has lapsed on a registered vehicle, it will contact the owner and ask for proof of insurance. If the owner is unable to provide proof of insurance, their drivers license and vehicle registration will be suspended for up to three years. Drivers can also be required to provide proof of insurance in the following situations.

  • When they register or renew the registration on their vehicle
  • When they apply for or renew their drivers license
  • When they are in an accident
  • When a law enforcement officer ask them to provide proof of insurance

You can typically verify proof of insurance with an insurance identification card. Your insurance company is required to provide you with an identification card when you purchase or renew your vehicle insurance. The insurance identification card will give the name of the insurance company, the policy number, and the policy’s effective and expiration dates. It also includes your name and a description of your car.

 Penalties for not having Insurance

If the state finds that you do not have insurance that meets the minimum requirements, it will suspend your drivers license and vehicle registration for up to three years. You will also be required to pay a $150.00 fine, and show proof of insurance to get them reinstated. If you get caught a second time within three years, you will have to pay a $250.00 fine, and provide proof of insurance to get them reinstated.

 Drivers who are Required to Have SR 22 or SR 44 Coverage

The rules for drivers who require SR 22 or SR 44 coverage are basically the same. If you are asked to provide proof of financial responsibility, you will need to provide you SR 22 or SR 44 certificate. The minimum liability requirements for those who have been convicted of a DUI and need SR 44 coverage’s are higher than for others. They are as follows:

  • $100,000 for one person killed or injured
  • $300,000 for two or more persons killed or injured
  • $50,000 for property damage

Purchasing Auto Insurance

Since you are required to get auto insurance, you should try to get the most affordable insurance possible. The best way to get the most affordable insurance is to use the Internet to get quotes from a wide range of insurance companies. You can then take your time and compare different quotes and coverage’s so that you can make an informed decision. If you find the coverage that you want with an affordable quote, you can purchase your insurance policy online. Often the process can be completed within one hour.

Resources:

http://www.autoinsurancetips.com/florida-auto-insurance-laws-minimums-requirements

http://www.nofaultinsurances.com/florida/

http://www.flhsmv.gov/ddl/frfaqcrash.html

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