Minimum “Full Coverage” Auto Insurance
March 22, 2024
Florida insurance laws require the owner of any vehicle currently registered in the Sunshine State to carry a minimum of $10,000 in personal injury protection (PIP) and $10,000 in property damage liability (PDL) insurance.
State statutes do not require auto policyholders to purchase bodily injury liability coverage or liability insurance unless the driver recently had a DUI offense. Insurance carriers can, however, cancel or not renew an existing policy following a DUI conviction.
FR-44 insurance is a document used in Florida for drivers who have been convicted of a DUI or other high-risk moving violations to prove the driver has purchased the required amounts of insurance coverages. Typically, FR-44 form insurance requires bodily injury liability of $100,000 per person, $300,000 per accident, and $50,000 for property damage.
Safe drivers who purchase minimum coverage policies in Florida receive the most affordable car insurance premiums available; but there is a down side. Only purchasing the minimum PIP coverage means they have the lowest or bare minimum level of protection if involved in an accident.
Florida No-Fault Auto Insurance
Under Florida No-Fault Motor Vehicle Law, drivers must carry the specified minimums for personal injury protection and property damage liability. The biggest benefit of PIP insurance is that the insured’s medical bills are covered for about 80% of most crash-related medical expenses regardless of who caused the accident. PIP coverage can also pay 60% of lost wages as well as cover basic medical expenses for injured passengers and family members.
As part of Florida’s “minimum full coverage”, the property damage liability insurance pays for other people’s property (up to the policy limits) that was damaged during a motor vehicle accident. It is important to note that PIP auto insurance does not cover damage to your vehicle following an accident. So to truly have full coverage, you will need to add comprehensive and collision coverage and most experts recommend adding uninsured motorists insurance, as well.
Purchasing a Vehicle: Insurance carriers in Florida typically provide a grace period of 7 to 30 days to drive a newly purchased vehicle before requiring you to update your policy information. If you do have a claim within that period, your newly purchased auto has the same limits of coverage as other named vehicles.
Auto Policy Options to Extend PIP Coverage
Although Florida Statutes requires minimum amounts of property damage liability insurance and personal injury protection. You may choose to lower your premiums by selecting a higher (usually $250) deductible of $500 or $1,000. Drivers should and often do consider purchasing optional auto insurance coverages, such as:
- Collision – In Florida, collision insurance is optional and covers damage to your vehicle from a collision with another vehicle or object. Collision insurance pays for your repairs including single car accidents like hitting a guardrail, tree, fence, or pole. A common single-auto accident that is covered by collision car insurance in the Sunshine State is a roll-over not involving another vehicle.
- Bodily Injury Liability – In Florida, bodily injury liability insurance covers serious injuries to others (or the loss of life) in an accident where your vehicle is involved. Unlike other policies, bodily injury liability payout occurs when an at-fault party is sued in a civil court for damages caused by a car crash, where property damage or bodily injury requirements have not been satisfied by other insurance.
- Uninsured Motorists – In Florida, uninsured motorists coverage compensates you for medical expenses, lost wages, pain and suffering, wrongful death, property damage and disability costs when you are involved in an accident with an uninsured or underinsured motorists. Florida has the second-highest rate of uninsured drivers in the U.S. Uninsured motorists insurance supplements basic PIP benefits.
- Comprehensive – In Florida, comprehensive auto insurance coverage protects against damages to your vehicle that are not collision related. If your auto is damaged or stolen in an incidence that does not involve a collision, comprehensive pays to repair or replace your vehicle. This can include damage from vandalism, falling objects, accidents with an animal, water damage from flooding, and other events deemed outside of your control.
- Roadside Assistance – In Florida, any driver can find themselves in a bind due to unexpected failures, such as a flat tire or dead battery. Roadside assistance coverage can help you get back on the road and is usually a very reasonable add-on to an existing auto insurance policy. When keys get left inside your locked vehicle, roadside assistance can also include lockout assistance as well as fuel delivery, winching, and towing services.
- Gap Insurance – In Florida, guaranteed asset protection is an optional insurance coverage that some motorist may need to add to their auto insurance portfolio. Gap insurance is designed to compensate you for the difference in what you owe on a vehicle that is stolen or totaled in an accident versus the insurance claim payout for your vehicle. Lenders often require gap insurance as a form of credit insurance, especially for high-end vehicles.
- Rental Reimbursement – In Florida, rental car coverage is an option that can help pay for transportation expenses up to the limits of your policy, such as a replacement vehicle or public transportation fare, while your car is being repaired due to a covered claim. If your vehicle is totaled, rental car insurance can cover the cost of temporary transportation. But to add rental reimbursement coverage, you may need to carry comprehensive and collision.
If you still owe money on your vehicle, the lienholder will likely require that you carry both collision and comprehensive insurance coverages until the loan is paid in full. Once you own the vehicle outright, you can have the lienholder removed and reassess your needs for extended coverages like collision and comprehensive. However, experts recommend you carefully consider your financial need for additional coverage.
Driving without minimum “full coverage” PIP auto insurance is illegal in Florida. But, PIP limits are quite low and may not fully protect your assets in the event of an auto accident or other unexpected event. Contact an independent agent at Nsurance Nation to find out what discounts our insurers offer and how to get the best deal possible when adding optional auto insurance coverages.
