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Florida drivers have a very unusual state for car insurance as residents not only have no-fault car insurance laws but a national low of only $10,000 in required liability insurance. For many drivers this can pose a very dangerous combination when comparing car insurance quotes as $10,000 is not enough to cover damages in almost any accident involving personal injury and any kind of major damage to a vehicle can quickly exceed $10,000 in repair costs.
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It is natural (and financially responsible) to search for cheap car insurance but in Florida you need to pay special attention to how much coverage you are buying, and not just the cost of premiums.
What are Florida Car Insurance Requirements?
Under Florida law all drivers must carry car insurance with at least $10,000 of PIP (personal injury protection) and $10,000 of property damage liability insurance. That’s it … However, this is not a good thing. Much like other states, there is no requirement to carry collision or comprehensive coverage however the big difference in Florida is that many car insurance companies will try to sell you the minimum coverage and $10,000 in coverage is barely enough to cover a night in the hospital. Many financial professionals advise to purchase at least $100,000 in liability insurance and this is even in states where the minimum car insurance required by law is $50,000.
How much car insurance do I need in Florida?
What the law requires and what you really should have are completely two different things, especially when it comes to Florida car insurance. There is no doubt some of the cheap car insurance quotes you may receive in Florida are tempting but it is of utmost importance to look at the details of coverage. If you have any ability to purchase more car insurance coverage than the state minimum then always consider doing just that. Why? Although Florida is a no fault state you can still be sued for a wide variety of injuries resulting from a car accident. Furthermore, any damages exceeding your policy coverage become personal liabilities. Now, think about how much $10,000 really is compared to the cost medical care and the price of luxury vehicles on the road. $10,000 is sometimes a down payment on some of these vehicles and hospital bills.
Ironically when you lease a car in Florida not only will the leasing company require you to obtain at least $100,000/$300,000 in coverage but also request you carry comprehensive and collision coverage. Any Florida driver must understand how car insurance works before purchasing a policy as no-fault insurance does not mean no-liability insurance.
What car insurance companies have cheap car insurance in Florida?
There are over 150 licensed car insurance companies in Florida offering everything from typical car insurance for good drivers to collector car insurance to high risk insurance. The obstacle with defining who has cheap car insurance is that we don’t know your risk profile. Everybody has a unique profile and every car insurance company has a different formula for calculating risk. Florida drivers however do have a highly competitive market and there is no doubt you can find cheap car insurance by shopping around. Companies like Allstate, State Farm, Liberty Mutual, USAA, Geico and 150 more all have some presence wherever your reside. The best way to find the cheapest car insurance quotes in Florida is to shop around and compare multiple providers. We can certainly help so enter your Zip code above to compare car insurance quotes in Florida today!
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