To drive in Florida, you must have auto insurance coverage. If you get into an accident and don’t have proof of your insurance, you could receive a ticket and a fine. The following outline will give more details on what type of auto coverage is required in Florida, along with tips for saving money on this essential expense:
Florida State Minimums
Florida has some of the most stringent requirements for auto insurance, which means you must be sure you’re meeting these minimums.
The minimum liability coverage required in Florida is:
- $10,000 per person
- $20,000 per accident
- $10,000 property damage
If you don’t have enough liability coverage and cause an accident with another car, this could cost you more than just the money you paid for your policy. If someone gets hurt and sues you for damages, they can get a judgment against you for up to the amount of money it takes to cover their medical bills and other expenses. That’s why it’s so important to buy enough liability insurance.
Keep in mind that there are other types of coverage besides liability that are required by law in Florida: personal injury protection (PIP), uninsured/underinsured motorist (UM/UIM), and medical payments (MedPay).
Liability Coverage
In Florida, liability coverage is required by law. This type of coverage protects you from injuries and property damage that you cause. It pays for your legal defense costs if someone files a lawsuit against you due to a covered accident or incident.
Also, in Florida, minimum coverage must be purchased for $10,000 per person injured in an accident, up to $20,000 total per accident. The minimum amount of property damage liability is $10,000 per occurrence.
Collision Coverage
Collision coverage pays for vehicle damage from a collision with another vehicle or object. It is often paired with comprehensive coverage, covering non-collision damage such as weather and fire.
When you’re in an accident, collision coverage helps pay for the cost of repairing or replacing your vehicle. If you damage another driver’s vehicle, their insurance will pay for repairs and your deductible, if any.
Comprehensive Coverage
Comprehensive coverage is similar to an umbrella policy. It protects against events not covered by regular car insurance, such as fire, theft, and vandalism.
Most people think that their insurance policy only covers accidents. However, comprehensive coverage protects you from unexpected events that could cause damage to your vehicle, even if someone else is at fault. Comprehensive car insurance, for instance, will cover the cost of repairs or replacement if your vehicle is stolen or damaged by a falling tree limb during a storm.
Uninsured Motorist Property Damage (UMPD) Coverage
Uninsured Motorist Property Damage (UMPD) coverage pays for uninsured driver-caused vehicle damage. Florida law doesn’t require it, but it’s recommended. UMPD is usually included in a standard auto insurance policy and can be purchased separately if you want more protection than your plan.
UMPD coverage may be helpful if you have been involved in an accident with someone who does not have car insurance or whose coverage limits exceed their financial resources. If the other party has no liability coverage and they cannot pay for property damage costs, UMPD will help cover these expenses up to the limit set by your policy.
Underinsured Motorist Bodily Injury (UMBI) Coverage
UMBI is a type of coverage it protects you in case you’re injured in an accident with another driver who does not have enough insurance to cover your injuries. UMBI is required in some states. In Florida, UMBI is optional.
If you don’t choose to purchase UMBI, there’s a chance that your auto insurance policy might still reimburse you for medical expenses. However, suppose the other driver involved in the collision has no insurance or only minimal coverage. In that case, he or she won’t be able to pay for any damages caused by their negligence.
Medical Payments (MedPay) Coverage
This coverage is a no-fault coverage that pays for medical bills and lost wages from an auto accident. This type of coverage is sometimes required in certain states, but it isn’t required in Florida, so you don’t need to have this on your policy. However, some drivers choose to add this kind of coverage because they want the peace of mind that comes with knowing that if they are injured in an accident, their medical bills will be paid for by their car insurance company.
Personal Injury Protection (PIP) Coverage
PIP is a type of coverage that covers medical bills and lost wages. It can be paid out by the insurance company or the person’s health insurance. PIP may also cover some additional expenses related to car accidents, including:
- Funeral costs for the deceased victim of an accident
- Replacement services for household help and cleaning, which are often lost after an accident
- Travel expenses for family members that must be relocated due to serious injury or death
Finding the Most Affordable Car Insurance Coverage for Your Needs
To find cheap car insurance, compare quotes from different providers like Affordable Car Insurance Tampa. Many factors affect your insurance rate, so it’s important to understand them. In addition, the coverage provided by a cheap policy may not be adequate. Therefore, check if your provider offers discounts or incentives for certain behaviors instead.
Takeaway
Auto insurance is required if you own a car in Florida. It’s the legal requirement and provides you with protection should something go wrong. But it’s also important to have the right coverage for your needs, so you don’t overpay.
Hi there! I’m Sethu, your go-to guy for all things tech, travel, internet, movies, and business tips. I love sharing insights and stories that make life more interesting. Let’s explore the world together, one article at a time!
