Auto Insurance in Florida
Guide to Florida Auto insurance, Quotes and Rates
Florida, unlike California and Arizona which are "tort" states, is a partial no fault state. What exactly does that mean? The "no-fault" aspect only relates to "bodily Injury", therefore in the event of a car accident all parties involved are ultimately responsible for their own medical costs and other bills that may follow on from the original injury. The right to sue in this state is limited.
Regulations, regarding auto insurance in Florida, make it mandatory for a vehicle driver to be covered by both a personal injury protection policy and a property damage liability policy.
What the property damage liability does is it covers you for any damage you may inflict on another party's property. The minimum amount of coverage is $10 000.
Personal injury protection policies will safe guard you from any injury related costs, whether you were at fault or not. Benefits include reimbursement for medical treatment, lost wages, and funeral expenses. Minimum amount is $10 000.
Certain drivers (previous accident / driving violations) may also be required by law to also take out bodily injury liability which allows them to cover the cost of injuries they may cause to other parties in an accident. The minimum costs for this insurance:
Injuries you cause to others comes out at a minimum of $10 000 per person $20 000 total
How are auto insurance rates and quotes determined by Florida companies? The estimated cost of covering all drivers (that includes possible legal fees) is divided by the total number of drivers. The behavior of the state's drivers therefore set the premiums. Drivers are then grouped according to level of risk whereby high risk drivers will be required to pay a higher premium than those that are at a lower risk. The formula used to calculate individual rates is exclusive to each company therefore it is recommended that you dig around before deciding.