Florida Auto Collision Insurance FAQ
Posted on behalf of Gordon & Partners on Aug 28, 2015 in Insurance Claims
All Florida drivers need to understand the terms and conditions of their auto insurance policies, but these policies can be complex. Read on to learn about common questions drivers have about Florida's auto collision insurance.
In Florida, liability insurance is required, regardless of how old your car is or the overall condition that it is in. However, it's important to note that you can opt out of purchasing physical comprehensive or collision damage coverage.
As the cost of repairing damage to older vehicles is usually much greater than the value of the car itself, it's also worth noting that if you purchase physical damage coverage, the insurance provider will usually “total” the vehicle and issue a check for the vehicle’s market value, which is less than the deductible.
While liability coverage is required in Florida, many motorists still drive without coverage, regardless of the state’s minimum liability limits of $10,000 per person and $10,000 for property damage. These limits still may not be enough to cover your damages in the event of a serious accident.
In hit and run situations where an at-fault driver leaves the scene of an accident, this type of coverage is applicable to those that may be seeking compensation for any injuries or damages that they may have sustained as a result of the impact.
Collision coverage pays for damage to your car when it hits or is hit by another object. Comprehensive coverage pays for the physical damage done to your vehicle from vandalism, flood, fire, theft, or other covered events.
Yes, owners of vehicles with four wheels are required to have insurance.
Personal Injury Protection (PIP), also known as Florida No Fault Insurance, covers your injuries within your policy limits, regardless of who was at-fault in a collision. PIP covers your dependents and passengers in your vehicle who do not have their own PIP. If you have a passenger in your car that has their own PIP coverage, their injuries will be covered under their own policy. PIP also protects you if you suffer an injury as a bicyclist or pedestrian.
PIP covers 80 percent of your medical bills, 60 percent of your lost wages, mileage to your health care providers and loss of your earning capacity, up to the limits of your policy. Mostorists are required to carry at least $10,000 in PIP, which may be subject to deductibles. This type of coverage does not pay pain and suffering damages.
If you or a dependent were at-fault in an auto accident that resulted in the damage of another person’s property, including their vehicle, this type of coverage will pay for the damages.
If you were at-fault in a collision that caused the severe or permanent injury or death of another, Bodily Injury Liability coverage pays for damages incurred. This type of coverage will cover your family members who live with you, even if they were not driving your vehicle at the time of the crash. Bodily Injury Liability coverage is not required in Florida.
If you fail to maintain insurance on your vehicle, the Department of Highway Safety and Motor Vehicles can suspend your driving privileges, including your registration and license plate, for up to three years or until you provide proof of current Florida auto insurance.
If your driving privilege is suspended because of lack of insurance, there is a penalty to reinstate your license. The fee can range anywhere from $150 up to $500, depending on additional violations, and must be paid in full in conjunction with proof of current Florida insurance in order to reinstate your license.
As long as you have a valid Florida license plate, the minimum coverage for personal injury protection (PIP) is $10,000 and an additional $10,000 in property damage liability (PDL).
Under Florida’s motor vehicle insurance laws, there is no provision for the issuance of any type of temporary or restricted driver’s license for financial responsibility suspensions.