Mandatory Florida Insurance
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If you own a car in Florida, you must have insurance. It’s the law, and the state mandates minimum amounts and types of coverage.
If you relocate to Florida from most other states, you may be surprised at how little is required. It is often wise to purchase more than these legal mandates.
Mandated Minimum Florida Auto Coverages
$10,000 of no-fault or personal injury protection (PIP)
$10,000 of property damage liability insurance (PDL)
Florida is a no-fault insurance state, which means that if you are injured in a crash, your policy will cover your care up to the policy limits. Coverage for your medical bills is provided no matter who is responsible for causing the accident.
Florida requires that each driver carries $10,000 in no-fault coverage.
Florida also requires drivers to carry at least $10,000 in Property Damage Liability (PDL) coverage.
Property Damage Liability
This portion of the policy is designed to pay for damage to another person’s tangible property, such as an automobile, a fence, a pet, or a telephone pole, etc., when the insured causes the accident and is deemed at fault.
The State of Florida mandates a minimum limit of $10,000 per accident. When purchasing a policy, the insured may elect to increase that limit with a corresponding increase in the base premium of the policy.
Who is Covered?
The other person’s property is covered. It does not cover damage to the insured’s vehicle.
No-Fault/Personal Injury Protection (PIP)
This portion of the policy is designed to reduce the number of law suits resulting from auto accidents in Florida. The PIP feature in your policy will pay for 80% of your personal injuries, 60% of your lost wages, 100% of replacement services, and up to $5,000 in death benefits until the stated limit is reached.
Unlike the property damage feature, the insured’s policy pays the PIP benefits to the insured regardless of who is deemed at fault in the accident. It does not pay for the other driver.
(Your PIP also covers you if you are struck by a vehicle as a pedestrian or while riding a bike; and it covers your children while they are riding a school bus.)
Additional Information about PIP
As mentioned above, the State of Florida mandates a PIP minimum limit of $10,000 per accident. When purchasing a policy, the insured may elect to increase that limit with a corresponding increase in the base premium of the policy.
For an additional premium, it is possible to increase medical payments to 100% and lost wages to 80%; or to increase the amount of coverage to $20,000 or more.
It is possible to reduce the cost of PIP by including a deductible but this usually only affords a small reduction in premium.
Elimination of Work Loss Coverage
It is also possible to reduce the premium for PIP by eliminating the work loss coverage. This is particularly advisable for people who are retired or who are not working, since the coverage is only for lost wages.
Who is Covered?
You and Members of Your Household are covered. It does not cover other passengers. If you and or your family members are injured as passengers in someone else’s vehicle, it is the PIP in your policy that pays.
There are many policy options that you may elect to purchase, but the above minimums are the only state mandated requirements in Florida.