Florida auto insurance provides financial protection against losses resulting from an accident. Any car that remains in the state for more than 90 days has to buy Florida auto insurance.
The Department of Highway Safety and Motor Vehicles (DHSMV) regulates laws and procedures related to auto insurance in Florida. The department maintains a database providing information about all registered drivers and vehicles. It tracks the driving record and insurance status of every registered driver in Florida. The auto insurance company gives all the necessary information to the department, including the date of renewal, failure to renew, cancellation of policy and claims filed.
Florida Auto Insurance: What Does the Law Say?
The state has two specific laws pertaining to Florida car insurance. They are:
Financial responsibility law: This law requires vehicle owners to pay for damage to another person in a motoring accident. Minimum cover required by the law is $10,000 per person for bodily injury liability, $20,000 for bodily injury to two or more victims and $10,000 as property damage liability. The bodily injury cover pays for serious or permanent injury to another person through an accident involving the policyholder. Similarly, property damage liability pays for damage to another person’s property.
No-fault law: This policy protects the driver against losses arising from personal damage due to an accident. One is required to buy a Florida auto insurance policy with $10,000 each for personal injury protection and property damage liability.
If a driver is found with inadequate or no insurance, the state administration has the authority to suspend the license for up to three years. In such a situation, you would have to buy Florida auto insurance within the allotted time and provide a SR-22 form to the administration. You need to pay out another $150 for the reinstatement of your license, if the allotted time period ends.
All major US insurance companies have operations in Florida. Apart from basic insurance, one can choose to buy comprehensive Florida auto insurance or a collision cover. Owing to stiff competition in the Florida auto insurance sector, consumers can seek quotes from different companies to buy a cost-effective policy.
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