What are the required auto insurance liability minimums?

What are auto insurance liability minimums?

Most states have certain minimum coverage requirements for insuring a motor vehicle that is registered within the state.  These auto insurance liability minimums are not that much more significant than in other states.  And they can be acquired from almost any reliable insurer, provided that the insurance company meets the criteria mentioned in the last section here.  Let us take a look at the basic requirements for the state of Florida according to https://floridainsurancequotes.net/auto-insurance/florida-auto-insurance-minimum-coverage/.

Personal Injury Protection (PIP)

What exactly is PIP?  This type of insurance protection covers the insured party, regardless of whose fault it was (who caused the incident), up to the limit of your purchased policy.

  • It can also cover other family members in your household, including your children. It will even cover your child if they are injured on a school bus.
  • This policy will also cover the insured party as a passenger in another driver’s vehicle, as a bicyclist, or as a pedestrian, as long as the injuries are sustained in a motor vehicle crash.
  • Most states require that you carry a minimum coverage in the amount of $10,000 if you own a vehicle in the state of Florida.

Property Damage Liability (PDL)

What exactly is PDL?  This type of insurance covers the insured party or other family members for damage to other people’s property in the event that the damage occurs from a vehicular accident.

  • Most states require that you carry a minimum coverage in the amount of $10,000 if you own a vehicle.

Other requirements

In addition to the minimums discussed above, there may also be other specific requirements for auto insurance for any vehicle registered.

  • These auto insurance liability minimums must be purchased through an agent and with a company that is licensed to sell within the state of Florida.
  • Even if you are out-of-state for an extended period of time, and have left your vehicle in storage, if it stays registered, then it must also carry the above mentioned required minimums. To avoid this, you can surrender your license plate and registration and then simply re-register the vehicle when you return to the state.
  • If you operate your vehicle as your business, for example a taxi cab driver, you have additional requirements from the state of Florida. You are required to carry $125,000 per person of Bodily Injury Liability coverage, $50,000 for Property Damage Liability, and $250,000 per occurrence.
  • If you move out of state, do not cancel your policy until the vehicle has been registered in another state. As long as the vehicle is registered, it is required to carry the above mentioned minimums.

It may sound daunting to need this level of coverage for liability minimums, but it is all quite reasonable.  And keep in mind that these Florida auto insurance policies from https://floridainsurancequotes.net/florida-auto-insurance/ protect you as well as every other driver you might encounter on the roads.