subject: Some Basic Coverage Of Florida No Fault Auto Insurance [print this page] Some Basic Coverage Of Florida No Fault Auto Insurance
Insurance requirements vary from state to state. Florida no fault auto insurance is no exception, so residents of the state need to know the ins and outs of the insurance as it pertains specifically to them. Florida is one of only 12 states in the country that operates under the no fault system rather than through traditional insurance methods. In essence, Florida car owners are required by law to carry a minimum of $10,000 of personal injury protection as well as a minimum of $10,000 if property damage liability.
You may also need to submit an SR22 form to show that you have maintained the limits of liability if you have points on your license for offenses such as traffic violations, driving with no insurance or DUIs. In this case, you will need an additional minimum of $10,000 in coverage for bodily injury liability. In other words, you can fulfill an SR22 no fault liability requirement with a total of $30,000 of coverage. Whether or not you need the SR22, you will pay the same for bodily insurance liability and pay a $15 filing fee. However, your insurance rates will be higher because of the incidents leading to the SR22 requirement.
Even if you are a seasonal resident, you may be required to carry Florida no fault auto insurance. If you live in the state for at least 90 days of the year, you must carry the minimum amount of coverage under the no fault system. It does not matter if the days are consecutive. The good news is your personal injury protection covers you whether you are in your own car or someone else's car. Furthermore, you are covered whether or not you are in Florida. Your coverage extends to all states in the US as well as Canada.
It is best to follow this mandate for no fault insurance because failure to do so will result in the revoking of your driver's license and vehicle plate. You will also have to pay the reinstatement fees as well as the normal filing fees. Furthermore, you must have this insurance to register your vehicle, particularly if you are moving from another state. Former residents of states such as Michigan, New Jersey and New York will probably pay less for auto insurance while those moving from states like Idaho, Iowa or Vermont will find rates more expensive.
No fault insurance is designed to cover medical payments that may result from an accident. The driver who is actually at fault is responsible for property damage done to the vehicle or vehicles. The coverage extends to all sorts of vehicles including school buses. This insurance is supposed to help reduce the number of lawsuits between drivers in Florida.
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