Floridians are required to maintain automobile coverage at all times while operating a vehicle and automobiles must continuously be insured in order to maintain registration in the Sunshine State. The state requires that all self propelled vehicles with four or more wheels be covered by a car insurance policy consisting of a minimum of $10,000 in property damage liability (PDL) and $10,000 in personal injury protection (PIP). Although this does satisfy Florida laws, these requirements are quite low compared to the majority of other states and can leave a driver uncovered in certain instances and in some cases, facing financial hardship.

Compared to FL, the state of New York requires that motorists carry a minimum of $50,000 in personal injury protection, which can help cover policyholders much more adequately for bodily injuries sustained in an accident than the $10,000 required in the Sunshine State. It may be wise to compare the cost of Medical Payments from multiple Florida auto insurance companies which may cover expenses that PIP may not to see if this coverage can be afforded, especially if the individual does not have a health care plan. Additionally, the property damage liability limits may prove to be inadequate in the event that the insured is at fault for causing a traffic accident where substantial damage is sustained by another party’s vehicle. According to the Federal Trade Commission, the average sales price of a new automobile is $28,400, therefore, if an individual was to cause a collision where the other vehicle was to be declared a total loss, the motorist may be held responsible for paying any compensation due above and beyond the $10,000 minimum requirement. A common suggestion is to purchase a policy consisting of $50,000 of property damage liability.

Beneficial car insurance Coverage in FL

Although the state only requires two types of protection to be listed on a policy, there are additional options that can be added to a motorist’s coverage that may be quite beneficial. One such option is to purchase protection from uninsured drivers. The state of Florida has very strict laws when it comes to keeping vehicles insured, but this does not seem to deter many individuals from driving without proper auto insurance policies in place. It is estimated that nearly 25% of motorists are occupying the roads while uncovered. This among the highest percentage in the nation and it may be a good idea to protect against such operators.

Insurers offer Uninsured/Underinsured Motorist coverage that pays for bodily injuries to the policyholder, family members and passengers of the automobile if injured due to the negligence of an uninsured or underinsured motorist. Covered scenarios include being struck by a party without liability coverage, has inadequate liability limits or if victim of a hit-and-run. This addition to a policy will pay for medical expenses and lost wages once PIP limits have been exceeded. Although adding this option to a policy may cost a little bit more in premiums it can be well worth the cost. According to the Florida Department of Highway Safety and Motor Vehicles, individuals who are struck by a party that does not have insurance will have to contact the Bureau of Financial Responsibility where a judgment will be enforced and the at-fault party’s driving privileges and registration will be suspended for 20 years or until the judgment has been taken care of.