What is No Fault Insurance in Florida?

No-fault auto insurance is a policy that pays for damages to your car and medical bills if you are involved in an accident, regardless of who is at fault. It is required in twelve states, including Florida. No fault insurance is a system that is designed to reduce the number of disputes between insurance companies over who is responsible for a car accident, and it can be more cost effective than traditional liability insurance.

In Florida, no fault insurance is divided into two types: personal injury protection (PIP) and property damage liability (PDL). PIP covers medical expenses and lost wages for yourself and your passengers, regardless of who is at fault. PDL covers damage you cause to others’ property, including vehicles, fences, buildings, and other items. It also pays for any legal costs if you are sued for causing property damage.

What Does No Fault Insurance Cover in Florida?

No fault insurance in Florida is designed to provide coverage for medical expenses, lost wages, and property damage. PIP typically covers up to $10,000 in medical expenses and 80% of your lost wages, while PDL covers up to $10,000 in property damage, with a deductible of $500. This coverage is subject to a limit of $25,000 per accident. In addition, PIP may also cover funeral expenses, death benefits, and other related costs.

Do I Need No Fault Insurance in Florida?

In Florida, it is mandatory to have no fault insurance. All drivers are required to have at least $10,000 in PIP coverage and $10,000 in PDL coverage. If you are found to be driving without this coverage, you may be fined or have your license suspended. Additionally, if you are involved in an accident and do not have no fault insurance, you may be held personally liable for any damages.

How Much Does No Fault Insurance Cost in Florida?

The cost of no fault insurance in Florida can vary depending on a variety of factors, including your age, driving record, and the type of car you drive. Generally, you can expect to pay around $800 to $1,200 per year for the coverage, although this will vary depending on the insurer and your individual situation.

How Do I Get No Fault Insurance in Florida?

If you are looking to get no fault insurance in Florida, you can start by contacting your current insurance provider to see if they offer it. If they do not, you can compare quotes from different insurers to find the best price and coverage. Additionally, you can also use an online marketplace to compare quotes from multiple insurers and get the best deal.

No fault insurance in Florida is a mandatory requirement for all drivers. It provides coverage for medical expenses, lost wages, and property damage if you are involved in an accident. The cost of the coverage can vary, so it is important to shop around and compare quotes to get the best deal.