Insurance minimums required to drive in the state of Florida


shutterstock_46090777According to statistics which appeared in one of Florida’s local newspapers, about 30 percent of drivers on the roads of South Florida do not have even the minimum required automobile insurance. According to Florida’s laws, every automobile driver is required to carry property damage coverage, which pays for physical damage of the other car, and the PIP or the personal injury protection which pays for the individual’s medical bills up to $10,000.

Although drivers are required to show the proof of insurance at the time of obtaining their auto license tags, most of them only get the insurance on a payment plan and pay the first installment to show the proof to get the tag. Once the payment stops, the insurance company cancels the policy. Though the law requires the license plates to be picked up by the officials, such enforcement never happens, what with the budget cuts.

When the time comes to make the right insurance choice, opting for extra coverage is always a better idea. Purchasing underinsured or uninsured motorist coverage protects the policy holder if struck by an uninsured motorist. This is available at the same cost of liability insurance in most cases, so inquiring about this with the insurance company is highly recommended. Underinsured coverage provides the difference in the cost in case the motorist at fault is underinsured.

Personal Injury protection pays for the medical bills of the policy holder due to the accident, irrespective of anyone’s fault. If insurance companies recommend policy holder to choose a deductible and their health insurance will cover for the difference, this should be verified. PIP is usually chosen to cover for medical bills die to accidents and not the individual’s health insurance. Since PIP covers only 80% of the bills, choosing a deductible means more from pocket. Inquiring about the MEDPAY policy, which covers the remaining 20% after the PIP, may be beneficial, since many insurance companies provide it as a part of the PIP coverage, at very little extra costs.

Florida’s laws require every driver to carry property damage coverage which pays for the damages to the other car involved in the accident. Policy holders must opt for comprehensive coverage to protect the individual’s car when an accident occurs. Inquiring about the road side assistance and rental coverage when the car is in repair is recommended, since most insurance companies provide it.
Value of the car plays an important role in deciding the type of the coverage required. Since there are many insurance companies offering competitive rates, shopping around before buying a policy is recommended.