Florida is one of the few states in the U.S. to require a car owner to purchase no-fault insurance, without exceptions. Proof of coverage is required before registering a new vehicle, or when moving from another state.
The minimum requirements are $10,000 of personal injury coverage and at least $10,000 for property damage liability. The penalty for not carrying the required no-fault insurance coverage results in revocation of the driver’s license and vehicle plates, and payment for reinstatement and filing fees.
An additional $10,000 in bodily injury coverage is required if a driver has points on his or her license due to DUI’s, traffic offense, or driving without proof of insurance. The driver has to file form SR22 to prove that the coverage was increased to at least $10,000 above the minimum no-fault requirements.
Florida’s no-fault auto insurance requirement is an attempt to help reduce lawsuits between drivers involved in an accident. This type of insurance covers medical payments for injuries due to an accident regardless of who is at fault, while property damage to the vehicles involved is the responsibility of the driver who is at fault. It is imperative that every resident that owns a car understands the no-fault insurance requirements as it pertains to them.
Even seasonal residents must carry the minimum no-fault insurance coverage if they live in Florida for at least 90 days throughout the year, whether consecutively or not. This coverage insures the driver regardless of ownership of the car, and extends to all 50 states as well as Canada.