FL State Insurance Minimums
- Bodily Injury Liability: $10,000/$20,000 Limit
- Property Damage Liability: $10,000 Limit
Florida is a no-fault state which means that your auto insurance company will pay for costs incurred from auto accidents disregarding of who’s at fault. Since neither party is found to be at fault, you end up losing some of your rights to take legal action under a no-fault system. The specific details of this type of auto insurance system can change for various states, but the overall construct is the same.
Personal Injury Protection can help pay for medical/hospital expenses for you, your passengers and anybody else involved. There are minimums for this insurance coverage in Florida that all motorists must have. For all other people involved, the limit is $20,000 and $10,000 is the requirement for a single person involved. These are only state level directed minimums and each driver should reassess their own needs to discover how much insurance protection is good for you.
Uninsured/Underinsured Motorist Bodily Injury auto insurance policy is for when you are involved in an accident with another driver who does not have a Florida auto insurance policy at all, or doesn’t have enough auto insurance policy to pay related expenses. Uninsured/Underinsured Motorist Bodily Injury coverage is not essential in the state, but if you don’t hold this coverage and are in an accident with an uninsured driver, you may end up accountable for paying all of the medical costs.
Motorists in Florida paid an usual of just over $1100 for their auto insurance policy in 2003. In the same year, the U.S. usual was almost $200 less. Some residents incorrectly think the state of Florida and insurance underwriters determine the rates they pay, so they end up not look for lower rates. Every auto insurance company has a slighly unique fashion of working out a motorist’s premium so costs will deviate from person to person. You have to watch to check if you are getting the best rates or overpaying. One way of getting cheaper auto insurance is to employ auto insurance comparison websites. These sites will allow you rapidly get and evaluate price quotes from leading auto insurance companies.
In 2007, mean auto insurance rates saw their first reduction in about 8 years. 2007 had a .5% to 1% reduction in insurance costs from 2006. However, the next year in 2008, auto insurance were again going up and continued to do so through the first months of 2009. Auto insurance websites acknowledge that the singular way to reduce rates is to comparison shop. Websites like these let you promptly and easily go over auto insurance from individual auto insurance firms. Using the internet can help you check up on if you’re paying too much for auto insurance and if you can receive discounts.