Does it seem like Florida is the one place where there is no such thing as cheap car insurance? Florida is known for a relatively high cost of living, so I wrote this article as a basic primer on Florida car insurance requirements, as well as how to save a few bucks on your auto insurance in the sunshine state.
As you continue reading this article, I’m going to talk to you about the different laws and requirements for car insurance in the state of Florida, and then I’ll give you some quick tips you can use to save a few bucks on your auto insurance, no matter what kind of protection you’re looking for.
Sound good? Let’s get started!
Car Insurance Florida Requirements:
Below are the basic requirements for car insurance in Florida if you plan to legally drive on their roads.
- No Fault State – Florida is a no fault car insurance state, which means that in an accident your insurance pays for your injuries and damages, and the other person(s) pays for their injuries and damages. Keeps things nice and simple.
- Minimum $10K PIP / $10K PDL – As far as liability car insurance is concerned, you’re required to have coverage up to $10,000 in personal injury protection and $10,000 in property damage liability. Depending on your traffic and driving record you may have different requirements.
- What Does it Mean to Be Self Insured? – Florida allows you to live outside the car insurance companies as long as you set up a bond with the required funding deposited and available for use at the turn of a dime.
Now that you know the basic requirements for car insurance in Florida, let’s talk about some quick tips you can use to save money on your auto insurance!
Here are 4 quick tips to save money on your car insurance in Florida (although some of these apply to other states, too):
- Figure Out Your Maximum Deductible – Bust out your calculator and your budget sheet and figure out how much you could afford to pay on a deductible in a worst-case scenario… That should be the deductible you shoot for when looking at car insurance quotes! Remember, a higher deductible means a lower monthly premium.
- Old Car? Drop Your Comprehensive / Collision Coverage – Many times insurance companies will try and rope you into liability coverage that you really don’t actually need. If you’re driving an old car, then it is almost certainly cheaper to opt for the broadest, non-comprehensive insurance coverage available to save money (You can put the saved money towards a new car!)
- Comparison Shop Online – The Internet has really changed the way we shop for car insurance, and you should take advantage of this limitless resource. There are a plethora of services available, with new ones popping up every day, that will compare available car insurance in Florida to make sure you get the best deal.
- Visit FLDFS.com for Updated Information on Florida’s Insurance Laws - Depending on when you’re reading this article, the numbers I’ve quoted as minimum requirements by law may be out of date… Visit the cited website to stay up-to-date on the car insurance coverage requirements in Florida.
Alright, now you know the requirements and secrets for cheap car insurance. Florida is one of the more expensive places to live, but it doesn’t have to be an expensive place to drive! Take these tips and recommendations into consideration and you’ll be much better off.
