subject: Mandatory Florida Auto Insurance Laws And How To Protect Yourself [print this page] If you are licensed in the state of Florida, you are legally required to purchase and maintain a Florida auto insurance policy to satisfy Florida financial responsibility laws that are mandated by the state. Drivers choosing to disobey these state mandated laws could face serious punishments if they are pulled over by law enforcement. Some of these punishments include suspension of Driver License, suspension of vehicle registration, serious fines and jail time for multiple offenders. If you are in the process of purchasing a vehicle or currently are quoting insurance policies because of an upcoming policy renewal, it is important to understand the coverages required by the state of Florida. Review the coverages below and build a comprehensive policy that will protect you and satisfy state financial responsibility laws.
While Florida's mandatory auto insurance laws vary significantly from most states, they are specifically designed to protect all residents. Like all states, Florida requires licensed drivers and vehicle owners to carry minimum liability coverage limits to protect a third party against injuries and damages. Liability consists of both Bodily Injury and Property Damage coverages. Drivers must carry no less than $10,000 per person/ $20,000 per accident in Bodily Injury and $10,000 per occurrence in Property Damage. While these limits will satisfy the Florida auto insurance laws, it is recommended for drivers to carry higher limits if they can afford to do so. Increasing the limits to $100,000 per person/ $300,000 per accident will not significantly increase premiums for drivers with an acceptable driving record, so it is important to weigh your options wisely.
While Florida is considered a no-fault state, the Florida state legislature recently revised the required coverages and made carrying Personal Injury Protection insurance optional as of January 1, 2008. If you are currently carrying PIP coverage, you are protecting you and your passengers against injuries no matter who was deemed at fault for the accident. This coverage is recommended for all drivers, even those who currently have medical insurance. While it is recommended for all drivers, it is no longer required and can be rejected for your Florida auto insurance policy.
Other optional coverages include Uninsured Motorist, Uninsured Motorist Property Damage, Under insured Motorist, Comprehensive, Collision and others depending on the insurance provider. If you are building a comprehensive policy that will protect you, your passengers, and your vehicle, seriously consider the cost of each of these coverages for adequate protection. If you are not carrying adequate coverage, you could experience an unexpected claim that could cost you thousands of dollars out of pocket.
There are several different premier insurance companies servicing the state of Florida. Receive a variety of different quotes with different coverage limits and options and choose an affordable premium that gives you peace of mind and protection.
by: Todd Meyers
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