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Florida is a No Fault state for auto insurance. Knowing and understanding Florida No Fault Insurance law will allow you to choose the right coverage for you and will also help you if you need to make a claim in the future. Take a minute to read the following information before getting free no fault insurance quotes.
What Is No Fault Insurance?
Under no fault insurance each driver would be completely covered by his own car insurance (up to his policy limit), and drivers can not sue another driver regardless of the severity of the accident. However, no state uses such strict form of no fault insurance. There is a general misconception about no fault auto insurance and what it actually covers. Florida No Fault Insurance really is in regards only to medical payments. Meaning that if you are involved in an accident, your insurance company will pay for your bodily injury claims regardless of who was at fault. Under Florida No Fault Insurance law both drivers must carry insurance for their own protection, and their ability to sue other drivers for damages is regulated by certain limitations.
Florida No Fault Insurance Requirements
Since the Florida Legislature passed a bill to reform Florida’s Motor Vehicle No-Fault Law, citizens should know that Florida law will once again require drivers to carry Personal Injury Protection (PIP) insurance effective January 1, 2008. The law requires you to carry a minimum of:
- $10,000 of personal injury protection (PIP)
- $10,000 of property damage liability (PDL).
You must note that covering the property damage done to your vehicle will be responsibility of the at fault party in the accident. Florida no fault auto insurance law is intended to reduce lawsuits between drivers. You can only sue the at fault party if you meet certain thresholds like major bodily function, disfigurement or significant scarring.
How much insurance should I buy?
This is a question a lot of people ask. Any insurance professional in Florida will tell you that the minimum limits, required by the Florida No Fault insurance law, do not provide adequate protection. Just imagine for a second that you are involved in anything more than a minor accident. Considering the sky rocketing medical costs, $10,000 will hard be enough to cover all the bills. It is a good idea to purchase as much PIP insurance as you can comfortably afford. If in doubt, consult a specialist or your local agent, and get a professional advice. Remember that your auto insurance policy should give you a peace of mind, cover you if you get injured and safeguard your financial assets.
What about additional coverage?
If you have caused a car accident, which resulted in property damage and injuries, then the Florida Financial Responsibility Law will require you to purchase full liability insurance. The minimum limits for such coverage, also referred to as Bodily Injury Liability (BIL), are:
- $10,000 per person
- $20,000 per crash
How much does your vehicle cost? If you are at fault in a crash, can you afford to pay for major repairs or even replace your vehicle, without that causing you financial difficulties? What if you car gets stolen? If you are financially secure and can take these risks, great for you. But if not, you need to think about Collision and Comprehensive coverage. Collision coverage is quite self explanatory really. It pays for repairs and other costs resulting from a crash you have caused. Many people falsely believe that such expenses are covered by the mandatory Property Damage Liability, but PDL pays only for damages to other peoples property, not your own. Comprehensive coverage, on the other hand, will provide you with protection in case of fire, theft and even vandalism. The term full coverage auto insurance is often used to describe a policy which includes the required by law Florida No Fault Insurance, Bodily Injury Liability, Comprehensive and Collision Coverage. The only other type of coverage, which you may want to consider adding to your policy, is uninsured motorist coverage. The truth is that every 4th driver in Florida drives without auto insurance. Yes, such irresponsible drivers will pay fines and will lose their driving licenses for a long period of time, but that’s hardly a consolation to you if you get hit by one of them.
Auto Insurance Rates In Florida
Your place of residency is an important factor, which is taken into account by insurance companies in Florida when car insurance rates are calculated. Overall, motorists in the Sunshine State pay higher premiums than most people in America. The national average is just under $1,5000 and the average insurance policy in Florida costs a little over $1,700. Still, if you live in Jacksonville or Tallahassee you may pay less then the national average, but there isn’t much good news for residence of Miami and Tampa, where average rates are over $2,300. Of course, there are plenty of other factors determining how much you will pay for Florida No Fault Insurance. Your age, driving record and experience, make and model of your vehicle, credit score and even occupation are all part of the equation. It is not a secret that generally women pay less than man, while young drivers are considered high risk drivers and are expected to pay higher premiums.
Florida SR22 Insurance
High risk drivers in Florida are sometimes required by law to show a proof of financial responsibility. If you have been told that you need SR22 Insurance, it simply means that your insurance company has to submit a SR22 Form to the Department of Motor Vehicles (DMV). This process is called SR22 filing, hence an auto insurance policy requiring such filing is referred to as Florida SR22 Insurance. There are a number of reasons why you may have to carry SR22 Insurance in Florida, but in the majority of cases a DUI conviction is to blame. If you do not own a vehicle, but have to drive and need to show a proof of financial responsibility, you need to get non-owner SR22 insurance. How will SR22 insurance affect your rates? More often than not, it will increase them. Why? Because insurance companies will see you as a high risk driver and often the reason for having to file a SR22 Form will have a negative effect on your driving record.
Cheap Florida No Fault Insurance
Is it even possible to find cheap auto No Fault Insurance in Florida? Of course, it is! Apart from keeping a clean driving record and having a good credit score, there are a number of other things you can do, which will help you find lower rates:
- Make sure your vehicle has anti theft device and safety features like air-bags and ABS.
- Reduce your annual mileage
- Increase your deductible
- Take an insurance discount course
- Combine insurance policies
Still, when it comes to finding affordable car insurance in Florida, the most important thing is comparing quotes. It only takes a couple of minutes to complete a simple online form and can save you hundreds of dollars. Getting as many quotes as possible will give you the freedom to choose the best policy for you. Don’t be afraid to ask for discounts too, you may be pleasantly surprised. So what are you waiting for?