How Does No Fault Auto Insurance Work In Florida
What is No Fault Auto Insurance?
No fault auto insurance is a type of insurance that covers a driver and their vehicle in the event of an accident, regardless of who is at fault. This type of insurance pays the medical and other expenses of the insured driver and the driver’s passengers, and it also covers damage to the insured vehicle. No fault auto insurance is most often found in the United States and Canada, but it is also available in other countries.
How Does No Fault Auto Insurance Work In Florida?
In Florida, no fault auto insurance works much like it does in other states. The driver that is insured is responsible for the costs of any medical expenses and property damage that occur as a result of an accident, regardless of fault. The no fault auto insurance policy will cover the cost of medical bills and property damage up to a certain limit. This limit is set by the insurance company, so it can vary from policy to policy.
What is Covered by No Fault Auto Insurance?
No fault auto insurance in Florida covers the medical bills and property damage for the insured driver and their passengers, as well as the insured vehicle. It does not, however, cover any damage to another vehicle or any medical bills for anyone outside of the insured driver and their passengers. It also does not cover any damage that is caused by another driver, as this is the responsibility of their insurance company.
What is the Minimum Coverage Required in Florida?
In Florida, the minimum coverage required is $10,000 in personal injury protection (PIP) and $10,000 in property damage liability (PDL). PIP covers the medical and other expenses of the insured driver and their passengers, while PDL covers damage to other vehicles and property. Drivers must also carry uninsured/underinsured motorist (UM/UIM) coverage. This covers the medical and other expenses of the insured driver and their passengers in the event of an accident that is caused by an uninsured or underinsured driver.
Are There Any Exemptions for No Fault Auto Insurance?
Yes, there are some exemptions for no fault auto insurance. Drivers with certain types of vehicles, such as motorcycles, are not required to carry no fault auto insurance. Additionally, certain drivers may be exempt from the requirement if they can demonstrate that they have adequate financial resources to cover the cost of any medical or other expenses that may result from an accident.
Conclusion
No fault auto insurance is a type of insurance that covers the costs of medical bills and property damage for the insured driver and their passengers, regardless of who is at fault in an accident. In Florida, the minimum coverage required is $10,000 in personal injury protection and $10,000 in property damage liability. There are also some exemptions for certain types of vehicles and drivers that can demonstrate they have adequate financial resources. It is important to understand the details of your no fault auto insurance policy in order to make sure you are properly covered in the event of an accident.
