Florida Auto Insurance – Policy Differences For Good Vs. Bad Drivers
Florida auto insurance works differently from other states. Good drivers without any legal problems are only responsible for PIP and property damage. Ten thousand is the minimum required for each of these policies. An additional K in coverage is also required to cover each individual accident. However, none of these amounts covers your medical bills if you are injured in an accident. To meet this concern, you must get bodily injury coverage. Such coverage is not mandated in the state of Florida, but it is still advisable for most drivers. With the state’s standard policies, the other driver is protected you are not. Since Florida is a No-Fault jurisdiction, it is assumed that the other driver’s policy will cover you, as they would be under the same requirements. Unfortunately, this does not always happen. The other driver could be uninsured or underinsured, which would mean no compensation on your end.
Your legal history is another concern in the world of Florida auto insurance. In other states, the insurance company penalizes “bad” drivers, but in Florida, the process is bureaucratized. Two forms are used in this assessment: FR44 and SR-22. FR44 is becoming far more common than its SR-22 cousin is. Any driver who has a history of DUIs, license forfeitures or felony convictions must file it. Once it is filed, the insurance company sends it to the Florida Bureau of Financial Responsibility, as the organization will not take the form from an individual. From there, the driver pays up to ten times more for their coverage. Instead of needing only K for PIP and property damage, drivers must acquire 0K and K respectively. For per-accident coverage, drivers must get 0K. These incredible differences will definitely affect a driver’s monthly premium. While a normal driver could get away with paying a month, an at-risk driver might have to pay over 0. This is why at-risk drivers need to research which providers they decide to get insurance from carefully. True, they cannot eliminate their fees, but with the right provider, they can get something more reasonable.
The same is also true for those needing to file an SR-22 with their Florida auto insurance. However, the SR-22 does not legally mandate higher requirements; in fact, they are in lieu with the standard legislation. With SR-22s, perception becomes the main issue. While an SR-22 applicant is not as bad as an FR44, for insurance purposes, they are not viewed as being the most responsible. SR-22 applicants have accumulated points and/or failed to pay child support. They may also be guilty of negligent driving. Consequently, when an insurance provider sees an SR-22, they are inclined to charge higher rates. Researching online quotes is the only way to minimize this problem, as SR-22s and their FR44 cousins are not optional. If these forms are not filed with an insurance company, drivers could get their licenses revoked.