Does Florida require full coverage insurance?
One of the main differences between fault (or tort) states and no-fault states is the type of insurance that is required. Most fault states require drivers to carry bodily injury liability and property damage liability insurance. In Florida, drivers are only required to carry PIP and PDL coverage.
Florida Car Insurance Laws
Some things to think about are that hospital costs can be quite expensive, and many popular new vehicles cost over $30,000. You may want to buy more than the minimum limits required. The industry recommends purchasing minimum liability limits of 100/300/50.
Because Florida is a “no-fault” state, the insurance company pays for these damages up to $10,000 regardless of fault. The renowned Fort Lauderdale full coverage lawyers at the Law Offices of Anidjar & Levine are dedicated to helping Florida residents obtain full coverage for their motor vehicle needs.
New Requirements for Florida Drivers
If passed, the new PIP law Florida changes will require drivers to show proof of mandatory bodily injury coverage before they may register a motor vehicle with the State.
Regardless, it's important that Florida drivers know the mandatory insurance requirements that apply statewide. The minimum requirements for auto insurance coverage are: $10,000 for personal injury protection (PIP) $10,000 for property damage liability (PDL)
According to Florida law, if you own a motor vehicle with four or more wheels you must carry $10,000 of personal injury protection (PIP) insurance and a minimum of $10,000 of property damage liability insurance. You may have a deductible of up to $1,000 for PIP coverage and $500 for property damage liability.
| City | Avg. monthly full coverage premium | Avg. annual full coverage premium |
|---|---|---|
| Dade City | $300 | $3,596 |
| Lutz | $317 | $3,806 |
| Plant City | $296 | $3,555 |
| Orlando | $303 | $3,641 |
No. The state only requires $10,000 in both personal injury protection and property damage liability coverage. A “100/300” plan would cover $100,000 per person for bodily injury and $300,000 for injuries per accident. That would provide extra protection but go well beyond Florida car insurance requirements.
According to NerdWallet's January 2024 analysis, the average cost of car insurance in Florida is $3,797 per year for full coverage, or $316 per month, for a 35-year-old driver with good credit and a clean driving history.
Florida law requires car insurance
Drivers who don't carry the required coverage may be subject to paying for damage to your vehicle and medical bills due to injuries, as well as face criminal consequences for failing to carry insurance while driving.
What is the cheapest insurance in Florida?
- Cheapest company for minimum coverage: Geico.
- Cheapest company for full coverage: Progressive.
- Cheapest company for drivers with prior incidents: State Farm.
- Cheapest company for young drivers: Progressive.
Understanding Insurance Limits
If the at-fault driver has the minimum insurance policy in Florida, they may not even have bodily injury coverage. If the car accident damages exceed the insurance limits, the at-fault driver is still responsible for paying the remaining amount.
Senate Bill 2A. Establishes the Florida Optional Reinsurance Assistance (FORA) Program for the 2023 hurricane season, which: Provides optional hurricane reinsurance that insurance companies can purchase at reasonable/near market rates.
Due to Florida's no-fault laws, your insurance will pay for your auto repair after an accident you did not cause in Florida. However, if the costs of damages exceed your policy limits, you may qualify to recover additional compensation elsewhere.
Is PIP insurance required to drive in Florida? Yes, Florida drivers must have $10,000 in personal injury protection insurance to drive. Floridians must also have $10,000 in property damage liability insurance.
Car insurance in Florida is expensive because it's is a no-fault state with the highest percentage of uninsured drivers in the country. In Florida, you can expect to pay approximately $6,685 per year for full coverage car insurance or $2,313 per year for minimum coverage.
Any vehicle with a current Florida registration must: be insured with PIP and PDL insurance at the time of vehicle registration.
Collision and comprehensive coverage are not required in Florida. But if you don't have them you could be facing a large bill out-of-pocket if your car is damaged. There are many uninsured drivers in Florida. If one of them damages your vehicle, you will have to pay for the damage.
Florida is one of the few states in the United States that operates under a no-fault auto insurance system. This means that drivers are required to carry personal injury protection (PIP) insurance, which covers medical expenses and lost wages regardless of who is at fault for a car accident.
Self-insurance involves acquiring a certificate of coverage from the Florida DMV and taking fiscal responsibility for all accident-related expenses for which the motorist is legally liable. Self-insurance can either be a cost-cutting measure or a risky gamble that could financially wipe out the self-insured party.
What is Florida's no-fault law?
The Florida No-Fault Motor Vehicle Law requires drivers to carry Personal Injury Protection (PIP) coverage as part of their auto insurance; this No-Fault coverage pays the insured's bills, regardless of fault, up to the limit of the insurance (minimum limit is $10,000).
- Gainesville: $1,782 per year.
- Callaway: $1,804 per year.
- Naples: $1,882 per year.
- Ocala: $1,916 per year.
Cheapest car insurance in Florida for seniors: Geico
Geico has the best quotes for senior drivers in Florida. Full coverage from Geico costs $140 per month for a 65-year-old driver in Florida. That's $88 per month cheaper than the statewide average. State Farm is also an affordable company for Florida seniors.
Based on our analysis, Security First, Tower Hill, and State Farm are the three cheapest home insurance companies in Florida, with statewide average premiums ranging from $721 to $2,227 per year.
Unlike most states, residents of Florida are not required to have bodily injury liability, as PIP coverage handles relevant medical costs.
