#low auto insurance
Auto Insurance Requirements in Florida
The Amount of Insurance Fraud in Florida
Insurance fraud is one main reason that auto insurance companies increase everybody s premiums. Florida is a great example because it has just been found to have the greatest number of auto insurance fraud cases in the country. According to the National Insurance Crime Bureau (NICB), more staged accidents resulted in fraudulent claims in Florida than in any other state. A total of 3,006 claims out of all that were filed in this state were found to be fraudulent. Currently, Florida residents pay more for their auto insurance coverage than drivers are paying nationally. A yearly policy costs Floridians $2,162.16 on average. This high amount can be attributed to the high incidences of fraud and is the reason that people s premiums increase by $200 to $300 every year, according to the NICB .
Florida s Alcohol-Related Accidents
Florida also appears to have a problem with people who choose to sit behind the wheel of their vehicles after having ingested alcohol. According to Florida s Department of Motor Vehicles (DMV), a total of 20,085 car accidents were caused by a drunken driver. Of these 20,085 collisions, 14, 130 people were injured and 1,004 people died.
Odd Laws in Florida
Although Florida has very serious traffic issues to deal with, the state s legislature has taken the time to enact laws that are not addressing them. One concerns elephants and parking. It s not illegal to tie an elephant to a parking meter, and some Florida residents believe that they can leave their elephants at a parking meter and not pay the fee. However, if they were to do this, they would be breaking one Florida s laws.
Did You Know ?
Apparently, Florida was behind the times in 1918 when it became the last state in the union to issue a state license plate to those who owned vehicles.
Florida s Minimum Auto Insurance Requirements
Florida residents do not have to purchase auto insurance, but they do need to be able to take financial responsibility if they cause a collision. Florida is a no-fault state, so the person who caused the collision will not necessarily be determined at first. The need to do so may present itself at a later date. Until then, those injured in a car crash will be required to file a claim with their own insurance companies for their Personal Injury Protection (PIP) insurance coverage, or they will file a claim with the company that insures the car in which they were riding.
The No-Fault Law
Florida drivers are required to have the following types of auto insurance coverage to comply with the state s no-fault laws: Personal Injury Protection (PIP) insurance in the amount of $10,000 Property Damage Liability coverage in the amount of $10,000
The Financial Responsibility Law
In order to comply with the state s financial responsibility laws, drivers must carry the following coverage: Bodily injury liability in the amount of $10,000 to cover one person s medical bills Bodily injury liability in the amount of $20,000 to cover everyone hurt in the collision Property damage liability in the amount of $10,000 to repair or replace all property damaged in one collision Combined single limits in the amount of $30,000