Alternative Proof Of Financial Responsibility
Besides getting an insurance policy, there is one other way to satisfy the minimum requirements: by insuring yourself. Drivers who demonstrate sufficient financial ability to the Department of Highway Safety and Motor Vehicles may be approved for a certificate of self-insurance. If you become a self-insurer, you will be liable for the same amount of coverage as would an insurance company under the split limits of 10/20/10 for BIL and PDL coverage, as well as $10,000 in PIP coverage.
Necessary documents to apply for self-insurance include all of the following:
- A notarized financial statement that shows assets worth at least $40,000 , also known as the statement of net worth. You may select the assets you choose to list on the balance sheet.
- The license and Social Security numbers of all drivers who will hold the certificate of self-insurance.
- A list of all of the vehicles covered under the certificate, including the make, model and year VIN and license plate number of each.
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Does My Own Car Insurance Policy Cover A Rental
If you already have an existing auto insurance policy, you are probably covered when you rent a car. In most cases, regular auto insurance covers a rental and protects against vandalism, theft, or collision coverage. Similar to if you were driving your regular car, your liability coverage works the same as in a rental car related claim. You would need to file your insurance claim as if you were driving your primary vehicle.
Is Additional Coverage Mandatory
Many people are confused about whether or not the car rental insurance offered at the counter is required. Florida requires car rental companies to carry insurance on their vehicle. However, there is no corresponding law that says that someone has to purchase additional insurance.
Rental car insurance in Florida is optional for those people who meet the circumstances listed above. Yet some car rental companies are suspected of pushing optional insurance policies on renters as if they were mandatory. If you purchased car rental insurance under the impression that it was required, you may be able to seek compensation.
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Car Insurance Laws In Florida
Car insurance laws in Florida are relatively straightforward:
- Car insurance is legally required: Drivers in Florida must carry no-fault insurance before they can register and legally operate their vehicle in the state.
- Insurance must be purchased from a licensed provider: Florida drivers must purchase car insurance from an insurance company licensed in Florida.
- Continuous coverage: Vehicle owners must maintain continuous insurance coverage throughout the registration period, regardless of the cars location. The only exception is for military members.
- Policy cancellation: Florida drivers who move out-of-state must surrender their vehicles license plates and registration before they cancel their insurance policy.
What Happens If You Fail To Maintain Car Insurance In Florida
What happens if you have no car insurance in Florida? Should you fail to obtain or maintain car insurance coverage in Florida, your license and registration can be suspended for up to three years. You may also be issued a ticket violation and be summoned to court.
In addition to the fees pertaining to the above, youll have to pay to have your license reinstated, which could cost you up to $500.
A temporary or hardship license will not be issued to you if your license was suspended because you failed to maintain Florida coverage. Your license will stay suspended until proof of insurance is provided. Then it can be reinstated.
If you do not wish to insure your vehicle or cannot afford to, the best thing to do is turn in your tag and registration to a Florida tax collectors office or an office of the Florida Highway Safety and Motor Vehicles .
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Florida Car Insurance Minimums
This might seem complicated at first, but lets break it down. There are several major types of car insurance, but lets focus on liability, collision, and comprehensive. In general, liability car insurance is meant to protect you from paying for the medical or repair/replacement bills of the other party if you cause an accident.
This short video provides a nice overview:
You might think that you wouldnt need liability insurance in Florida since its a no-fault state. But Florida does require that you carry at least $10,000 of property damage liability. And, although youre not required to carry any specific coverage for bodily injury liability, Florida requires that you have personal injury protection of at least $10,000.
Does Florida require collision insurance? No, but that doesnt mean that you shouldnt consider getting it. Generally, collision insurance will cover expenses related to damages caused in an accident with another vehicle, or if you happen to hit an object such as a fence or a gate. Heres a short video that explains collision insurance:
In terms of comprehensive insurance again, Florida doesnt require it. But comprehensive coverage pays for damage to your car caused by unexpected events out of your control, such as theft, vandalism, acts of nature, sinkholes, etc.
Lets take a quick look at some data. The table below shows the average costs for car insurance in Florida for low, medium, and high coverage.
Minimum Coverage Required By Florida Car Insurance Laws
- Personal Injury Protection: $10,000 of coverage is required.
- Property Damage Liability: $10,000 of coverage is required.
- Collision: not required under Florida car insurance laws
- Medical Payment: not required under Florida car insurance laws
- Uninsured/Underinsured Motorist: not required under Florida car insurance laws
- Bodily Injury Liability: not required under Florida car insurance laws
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Is Additional Rental Car Insurance Required
Rental car insurance can cost as high as $50 per day depending on the level of coverage selected. If you do not have personal collision coverage or of you do not have your own auto insurance policy, it can be beneficial to purchase the rental policy so long as it doesnt duplicate the protection you already have. In Florida, this is optional rental car coverage.
Florida Car Insurance Details
In addition to PIP , PDL , and BIL insurance coverage, Florida auto insurance companies offer optional coverages such as Collision, Comprehensive, and Uninsured Motorist Coverage.
The insurance rates are based on many factors including your driving record, your age, where you live, and the kind of car you drive. If your drivers license is in good status you will be eligible for better rates and if you live in a busy city your insurance rates will be higher than smaller less congested towns. Auto insurance providers do not figure their rates the same way so you will receive different rates for the same driver.
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Teen Drivers In Florida
Florida, like most states, has a graduated licensing system. Drivers will go through a three-stage program to obtain a full license designed to ensure safety on the road as drivers learn new skills.
- Learners Permit. At 15, a driver can obtain a learners permit, which they must hold for one full year. During this time the driver must drive with a fully licensed driver who is over the age of 21 at all times. For the first three months drivers can only be on the road during daylight hours, and after this time can drive until 10 p.m.
- Provisional License. After completing 50 hours of driving, 10 of which must be at night and one year with a permit, or reach the age of 18, whichever comes first, a driver can take the road test for the provisional license. There are two stages to this period: at 16 you may drive only between 6 a.m. and 11 p.m unless you are driving to and from work or are accompanied by a licensed driver who is over 21. At 17, you may drive only between 5 a.m. and 1 a.m. These time restrictions do not apply if there is a fully licensed driver over 21 in the car or for work purposes.
- Full License. At 18, teen drivers will graduate to a full license without restrictions.
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Who Really Has The Cheapest Car Insurance
Cheapest Car Insurance Companies
- USAA is the cheapest car insurance company, and it offers the lowest car insurance rates in the country, according to our analysis.
- Geico is the second-cheapest car insurance company, with a study rate of $1,168 annually.
- State Farm is the third-cheapest car insurance company in our study.
Auto Insurance Requirements In Florida Valuepenguin
Florida car insurance minimum requirements. If your car insurance policy meets Florida’s requirements, then you can drive legally. But if you cause an accident that results in injuries or while you’re under the influence, then you’ll need to satisfy extra requirements outlined under state law.
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How Can I Save Money When Buying Car Insurance In Florida
It is a good idea to search for ways of saving on Florida auto insurance premiums. Premiums can vary depending on where you live, your credit score, and the vehicle you drive. However, it is possible to save by comparing multiple providers and taking advantage of all discounts. You can also save money by increasing your deductible to $1,000 or keeping your credit score high for the best quotes.
A Breakdown Of Florida’s No
By David Goguen, J.D.
Anyone who owns and wants to register a four-wheeled vehicle in Florida must carry certain minimum amounts of car insurance coverage on that vehicle. Florida is also a “no-fault” car insurance state, which means if you’re injured in a car accident, your legal options are often limited. Read on for the details about:
- how Florida’s no-fault car insurance system works, and
- the minimum car insurance coverage requirements in the state.
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Florida Car Insurance Regulations
#1 What car insurance is required by law in Florida? If you live in Florida, youre required to carry at least $10,000 coverage for property damage liability per person or $20,000 per accident, and at least $10,000 for personal injury protection. You might also hear this referred to as the Florida Financial Responsibility Law.
What Is The Best Florida Car Insurance
The best Florida car insurance depends on your needs, budget, available discount options, and many other factors. It is a good idea to compare different carriers side-by-side to compare rates, customer service ratings, and other important factors.
Bankrate compared several Florida insurance companies. Allstate, Geico, and State Farm were the top-rated Florida insurance companies after analyzing financial stability and customer service ratings.
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In An Accident And Not Having Insurance
It is difficult to get into an accident in Florida without insurance. Florida is a no fault state. The other drivers PIP or PDL should cover them, even if they caused the accident. Uninsured motorist coverage should be available for the other driver. They will also be entitled to reimbursement for lost wages, pain, suffering, and other payments.
Florida is a state that does not allow for fault. However, if you are the victim of an accident and do not have insurance, you can still file a lawsuit against yourself. A lawsuit can be filed if another driver suffers severe or permanent injuries from the accident.
You can face multiple penalties if the accident was your fault. Florida also requires that you obtain an SR-22 form proving you have minimum coverage. The SR-22 form must be completed for three years following reinstatement of your license.
If the accident results in property damage, but no injuries, you need to immediately get $10,000 PIP or $10,000 PDL insurance. Your registration and license plates will be suspended immediately if you dont purchase this coverage. This fee is in addition to the $150-$500 reinstatement fee that you will need to pay.
You are responsible for the damage to your vehicle if the accident was caused by the other driver. This includes lost wages and medical payments. Depending on the extent of your injuries or damage, this could have serious financial consequences. This complexity can be avoided by having auto insurance.
Uninsured And Underinsured Insurance
Uninsured and Underinsured Motorist Coverage protects you for personal injury damages caused by another driver if that driver doesn’t have insurance coverage or enough to pay all of your damages.
Unfortunately, there are many drivers operating vehicles that do not have insurance to cover your injuries. Most UM-UIM policies will cover you, your spouse, and all relatives residing in your household, and most often all of your passengers. Also, the UM-UIM policies will cover you if you are riding in another person’s vehicle, and even if you are a pedestrian or on a bicycle.
We believe UM-UIM coverage is some of the most important insurance everyone who owns a vehicle should purchase.
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Floridas Pdl Requirements Are Relatively Low
Property damage liability insurance pays for damages a driver causes to other people’s property in a crash. The damage can be to cars or other property such as fences or buildings. Floridas PDL requirements are also relatively low. Most states require higher minimum limits, although there are some that require $10,000 like Florida and four that require only $5,000California, Massachusetts, New Jersey, and Pennsylvania.
What is full coverage insurance?
Full coverage auto insurance does include both “comprehensive” coverage and “collission” coverage. Collision coverage pays for damages caused by crashing into another vehicle or object or another vehicle crashing into you. Comprehensive coverage pays for damage to your car caused by things other than collission, such as:
- Wild animal strikes
- Natural disaster
Although you may be able to purchase comprehensive coverage without collision , most companies will not sell you collision coverage if you do not also purchase comprehensive coverage.
Driving Without Insurance In Florida
Florida has 15.4 millions licensed drivers. However, another statistic worth noting are the uninsured motorists. Driving without insurance in Florida is more common than anywhere else. According to the Insurance Information Institute III, Florida is the top state with 27% uninsured drivers.
Although it is difficult to determine why this large number of people drive without insurance in Florida, it is illegal. While driving without insurance might save you some money, it could lead to serious headaches and even criminal charges. These problems can be avoided by making sure you have at least the minimum amount of insurance and keeping your coverage.
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Florida Motorcycle Insurance Findlaw
Motorcycle insurance law in Florida can be confusing. Many people have the mistaken belief that motorcyclists do not need insurance because car insurance law is not the same as motorcycle insurance law. Floridas Financial Responsibility Law does, however, apply to motorcycles and there are consequences for not carrying motorcycle insurance.
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Driving Without Car Insurance
If you are caught driving without car insurance in Florida, you certainly arent alone. State officials estimate 1 in 4 drivers in the Sunshine State dont have auto insurance as required by law.
Driving without insurance is illegal in Florida, and its a serious problem that could result in the suspension or revocation of your drivers license.
At The Ansara Law Firm, our Fort Lauderdale traffic ticket attorneys will fight to protect your right to legally operate a vehicle in Florida if you are cited for driving without insurance. Depending on the facts of your case, you could be facing hefty fines and a loss of your license for months or even years on end. Its important that you take action as soon as you receive notice that you have been caught driving without insurance.
Although some traffic crimes are frequently prosecuted as criminal offenses in Florida, driving without car insurance isnt one of them. However, it can quickly spiral into a criminal charge if your license is suspended and you continue to drive.
If you can sidestep this outcome early on, you can likely avoid bigger headaches later.
Florida Auto Insurance Requirements
Auto insurance is mandatory for those who are driving a vehicle or registering any vehicle with four wheels.
As noted by the Florida Department of Highway Safety and Motor vehicles , the law requires drivers to at all times maintain a minimum of:
- $10,000 in personal injury protection coverage
- $10,000 in property damage liability.