Everything You Need To Know About No Fault Insurance In Florida

What Is No-Fault Insurance?

No-fault insurance is a type of insurance policy that covers you for certain medical and property damage expenses regardless of who was at fault for an accident or incident. In the state of Florida, no-fault insurance is required for all drivers and is referred to as Personal Injury Protection (PIP). PIP covers up to $10,000 of medical bills and lost wages for the driver and their passengers, regardless of who is at fault for an accident. This type of insurance is designed to provide quick and easy access to medical care and lost wages without the hassle of determining who is at fault.

What Does No-Fault Insurance Cover?

No-fault insurance, or PIP as it is referred to in Florida, covers a variety of expenses. PIP covers up to $10,000 of medical bills and lost wages for the driver and their passengers, regardless of who is at fault. PIP will also cover up to $5,000 in death benefits, up to $2,500 in funeral expenses, and up to 80% of lost income due to an injury sustained in an accident. PIP does not cover damage to vehicles, property, or any other type of incident that does not involve an injury.

Who Is Covered Under No-Fault Insurance?

No-fault insurance, or PIP, covers the policyholder and any passengers in the vehicle at the time of an accident. PIP also covers any pedestrian that is struck by the insured driver. PIP does not cover any other individuals, such as family members that are not in the vehicle, or anyone else that is not related to the policyholder.

What If I Don't Have No-Fault Insurance?

In the state of Florida, it is required by law that all drivers carry no-fault insurance, or PIP. If you are caught without PIP, you can face a number of penalties, including fines and even jail time. Additionally, if you are involved in an accident without PIP, you will not be able to receive any of the benefits of the policy.

How Much Does No-Fault Insurance Cost?

The cost of no-fault insurance, or PIP, will vary depending on a number of factors, such as your age, driving record, type of vehicle, and the coverage limits you choose. On average, a basic PIP policy can cost anywhere from $50 to $250 per month. Additionally, you may be able to get a discount on your PIP policy if you have other forms of insurance.

Conclusion

No-fault insurance, or PIP, is a type of insurance policy that is required in the state of Florida. PIP covers up to $10,000 of medical bills and lost wages for the driver and their passengers, regardless of who is at fault. PIP also covers any pedestrian that is struck by the insured driver. The cost of PIP will vary depending on a variety of factors, but on average can cost anywhere from $50 to $250 per month. If you are caught without PIP, you can face a number of penalties, including fines and even jail time.