Car insurance is an essential requirement by law in the state of Florida. The state requires that drivers have a minimum amount of vehicle insurance coverage to assume responsibility in case of an accident. The first and foremost coverage that a driver must have according to Florida law is liability insurance. This type of insurance policy is intended to cover expenses associated with damages or injuries to other people’s property or persons.
Liability insurance covers bodily injuries with the maximum limits split per person and per accident. Florida laws require all drivers to have a minimum coverage of $10,000 per person and $20,000 per accident. It also covers property damage liability, which pays for the repairs to the other person’s car that is involved in an accident. The minimum property damage liability insurance required by law in Florida is $10,000.
Personal Injury Protection (PIP) Insurance
Another type of car insurance coverage required by Florida law is Personal Injury Protection or PIP. This type of coverage is unique to the state, and all drivers must carry a minimum of $10,000 PIP coverage. If you are in an accident, regardless of which party was at fault, PIP will cover necessary medical expenses, lost wages, and other related expenses for you and your passengers.
The PIP insurance coverage can be automatic and covers up to $2,500 for emergency medical conditions. After this, it is necessary to see a medical practitioner. In some cases, if you are the driver of the car or a passenger, PIP may also cover the costs of treatments such as chiropractic care and acupuncture.
Uninsured/Underinsured Motorist Insurance
Uninsured/Underinsured Motorist insurance is also required by Florida law. This coverage is designed to protect you if you are in an accident where the other driver is at fault, but they do not have insurance, or their insurance coverage is insufficient to cover your expenses.
Unfortunately, some drivers in Florida do not have insurance or are underinsured, which can leave you in a challenging financial situation if you are in an accident with them. The best way to protect yourself from these drivers is to have uninsured/underinsured motorist insurance. Florida law requires drivers to have a minimum coverage of $10,000.
Collision and Comprehensive Insurance
Collision and Comprehensive insurance are not mandatory under Florida law. However, if you are financing or leasing a car, your lender or leasing company may require these coverages. Collision insurance covers damages to your car due to a collision, while comprehensive insurance takes care of damages caused by other circumstances such as theft, natural disasters, and vandalism.
While these insurance coverages are not required by Florida law, it is still recommended that you consider adding them to your policy. The cost of repairs to a damaged car can be substantial and can take a toll on your financial standing without insurance.
No-Fault Insurance Laws
Florida is one of the few no-fault insurance states in the country, which means that in case of an accident, drivers and passengers are responsible for their medical bills, regardless of who was found at fault for the accident. To comply with these no-fault insurance laws, all drivers in Florida are required by law to carry personal injury protection, as we have mentioned earlier.
No-fault insurance laws are essential in Florida because they can help avoid lengthy lawsuits that arise from determining who is at fault for an accident. These no-fault insurance laws ensure that medical expenses and wage losses are covered for all parties involved in an accident.
Regardless of whether you are a new driver in Florida or an experienced license holder, it is crucial to understand the car insurance coverage required by law. Liability insurance, PIP insurance, and uninsured/underinsured motorist insurance are mandatory requirements under Florida law. While Collision and Comprehensive insurance are optional, it is still recommended that you consider adding them to your policy.
By understanding the required car insurance coverage, you can better protect yourself and your passengers in the event of an accident. Make sure to follow the laws to avoid any legal penalties, and look into obtaining comprehensive coverage to provide yourself financial stability in the future.