Get A Good Deal With Florida Auto InsuranceFlorida auto insurance companies have to follow two very important laws, the Financial Responsibility Law and the No Fault Law. The first law states that all vehicle owners in Florida should have a minimum coverage insurance policy to compensate for the injury caused to the other person or the damage caused to the vehicle of other persons. For instance, when you are in the following situations, you should have the some basic coverage: * When you commit a fault resulting in an accident causing injuries to other person * When your driving license has been suspended for various reasons * When you are found guilty of offending the traffic rules frequently In all these situations, the state insists that people should have the minimum financial risk coverage in their Florida auto insurance policies. According to the Financial Responsibility Law, those persons for whom at least one of the above situation applies, should have a minimum coverage of $ 10000 of BIL (Bodily injury liability) and $ 10000 of PDL (Property Damage liability). Failing to have Florida auto insurance as per the Financial Responsibility Law will fetch a penalty and/or suspension of your License, tags and registration for a period which may extend till three years. So it is wise to have a comprehensive policy which can reduce your financial burden when a road collision occurs and the responsibility of settling down the damages lies on your side. It is wise to buy Florida auto insurance policy even if you don't have to, before the suspension date. In that case your Florida auto insurance company will send the sr22 form to the relevant authorities. Financial Responsibility Law covers the damages or injuries caused to assets or property belonging to others, and not your own. The other Florida auto insurance law is the No Fault Law; here any vehicle which is running inside Florida for 90 days (Even though 90 days are not consecutive) has to have a minimum coverage of $10000 for PIP (Personal injury protection) and $ 10000 for PDL(Property damage liability). The policies under this law cover the damage to self and your own property in an accident. Failing to have the minimum coverage and producing the required policy details to the Department of Motor Vehicles, (by the insurance company), will prevent you from obtaining your driving license or even from registering your car. Even if you cancel the policy of a particular auto insurance company you have to show the proof of an alternative policy for the minimum coverage to the DMV. If you do not comply, it will put you into serious trouble. Failing to have Florida auto insurance policies under these two laws will land you in trouble where you may lose your license and registration and it will cost $ 150 to reinstate the same. Therefore it does make a lot of sense to follow the rules and live by the law. |