Car Insurance Requirements in Florida for 2024
In Florida and multiple other states, you are required, as a driver, to have car insurance under the law. Unfortunately, different kinds of unexpected incidents happen every day, and it’s a good idea to be prepared for these situations. This article is here to guide...
Written by
Facundo Bermúdez
Published on
13 Jul 2023
Table of Contents:
In Florida and multiple other states, you are required, as a driver, to have car insurance under the law. Unfortunately, different kinds of unexpected incidents happen every day, and it’s a good idea to be prepared for these situations. This article is here to guide you to find the best car insurance and requirements in Florida. Florida car insurance minimums exist to protect you and many other drivers financially in case of an incident. Modern autos are faster than ever and more capable of causing damage to other people and their property. Florida is the home to approximately 15.4 million drivers and about 20% of them drive without car insurance, which is dangerous for them and others.
Contents
Mandatory Minimum Liability Coverage
To ensure the safety of drivers and others on the road, Florida law mandates that drivers carry Property damage liability coverage which is $10,000 per accident, and personal injury protection (PIP) coverage which is $10,000 per person. Let us recommend two categories of coverage. First, is “Must-Have” coverages, and second is “Should-Have” coverages. Ideally, you should get all the coverages in both categories.
1. Must-Have Coverages
In addition to the two types of coverage discussed above that are mandatory under Florida Law, the most important non-mandatory coverages to have been bodily injury liability coverage and recommended coverage limits. We suggest that you buy bodily injury liability coverage of $100,000 per person and $300,000 per incident, at a bare minimum. However, you should buy higher limits if you have substantial assets that you want to protect. Also, there’s uninsured/under insured motorist coverage. This is insurance coverage that comes into play when the at-fault driver has either no bodily injury liability coverage or has bodily injury liability coverage with lower coverage amounts (such as $10,000).
2. Should-Have Coverages
In addition to the “Must-Have” Coverages, there are some additional coverages that you should seriously regard buying, like collision coverage. This coverage will pay for the damage to your car involved in an accident, even if the accident was your fault or the at-fault driver is uninsured. Also, gap coverage is a great option. The coverage is there to protect you and your car if it comes to total loss following an accident, and you still owe more money on the car than it’s worth. Gap coverage will pay the difference; otherwise, you will have to absorb this loss. Additionally, you should have extended personal injury protection coverage (Extended PIP). As discussed above, PIP coverage is one of the car insurance requirements in Florida, which will pay for 80 percent of your medical expenses and 60 percent of your lost wages up to a combined maximum of $10,000.
Personal Injury Protection (PIP) coverage
PIP or personal injury protection also known as no-fault protection helps cover expenses like medical bills, funeral costs, and lost wages after an accident no matter who’s at fault. On the other hand, there are things that PIP does not cover like property damage or any expenses for the injuries of the other driver or any injuries you attain while committing a crime, like fleeing the police. Lastly, PIP does not cover everything, and that’s why you should consider getting bodily injury liability insurance and property damage liability insurance.
Uninsured/Underinsured Motorist Coverage
If you choose to have bodily injury liability coverage even if it’s one of the car insurance requirements in Florida, you will also be offered uninsured/under insured motorist insurance. Usually it comes with the same amount of coverage as you chose for bodily injury liability. It basically offers the same properties that PIP offers.
State Farm Car Insurance in Florida
What does State Farm car insurance company offer? State Farm offers a wide variety of coverage plans, which we will talk about in greater detail. Some of these plans are:
1. Comprehensive Coverage
Comprehensive coverage protects your car against vandalism and theft happenings, or deterioration caused by severe weather conditions.
2. Collision Coverage
This insurance coverage guarantees that your car repair or substitute costs are taken care of in the event of a wreck, regardless of who is at fault for the accident.
3. Personal Injury Protection
In Florida, PIP coverage is mandatory. It helps cover medical expenses, lost wages, and other accident-connected costs for you and your passengers, nonetheless of fault.
4. Rental Reimbursement Coverage
If your vehicle is being restored after any misfortune, this coverage helps compensate you for the price of a rental car.
State farm also offers a wide range of benefits that are mentioned below.
1. Financial Stability
State Farm is known for its powerful financial stability and solid standing. With its extended help, the company can supply trustworthy coverage and handle claims promptly.
2. Wide Network of Agents
State Farm brags an extensive network of agents throughout Florida that guarantees personalized service and backing when you need it most. These agents can coach you through the process of picking the right coverage options for your distinctive events.
3. Affordable Rates
State Farm offers competitive rates on car insurance guidelines, allowing you to find coverage that fits within your budget. The company also supplies various discounts, such as secure driving discounts, multi-policy discounts, and discounts for cars equipped with protection features.
4. 24/7 Claim Support
In the unlucky event of an accident, State Farm provides round-the-clock claims reinforcement. You can file an assertion online, through the State Farm mobile app, or by reaching their claims center directly.
5. Additional Coverage Options
Apart from the standard coverage options, State Farm offers supplementary features that can improve your policy, such as emergency roadside assistance, ride-share insurance, and coverage for custom-made parts and gear.
State Farm auto insurance in Florida offers comprehensive coverage, exceptional customer service, and competitive rates. You can enjoy your life in peace knowing that you have State Farm as your reliable car insurance company at your back.
How Much is Car Insurance in Florida
How much is car insurance in Florida? It varies on your coverage. For full coverage, drivers pay an average of $3,183 per year, which is 37% more than the national annual average of $2,014. Florida car insurance rates for lowest coverage average $1,128 per year, or roughly 45 percent more than the $622 national annual average.
Conclusion
In conclusion, this article offers the fine print of what car insurance requirements in Florida are like and what are the best car insurance companies in Florida. It also shows you that paying for car insurance can help you in many different ways, like being secured in case you get into an accident. You can rely on the insurance company to pay for the damages of your car in many situations. Plus, it’s in your benefit to have car insurance for your safety and for the safety of others as well.
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