What is Full Coverage Auto Insurance in Florida?

What is Full Coverage Auto Insurance in Florida?

It’s more than the basic insurance required by the state.

With full coverage, you get protection for most accidents and losses.

But in Florida, “full coverage” doesn’t mean complete protection – it’s just the minimum needed to get a driver’s license.

Before a big accident or serious injuries happen, you can get extra coverage for crashes, injuries, and uninsured drivers.

This extra coverage is important because it helps you avoid high medical bills, repair costs, and income loss, which can go beyond what the basic insurance covers.

An image illustrating  Full Coverage Auto Insurance in Florida
Full Coverage Auto Insurance in Florida
Source: (freepik)

Florida’s minimum car insurance requirements

It includes two types of coverage:

  1. Personal Injury Protection Insurance (PIP): You need at least $10,000 in PIP coverage, which covers medical bills, lost wages (up to 60%), and death benefits (up to $5,000) after an accident. It also applies to family members and pedestrians/cyclists hit by a car.
  2. Property Damage Liability (PDL): You must have at least $10,000 in PDL coverage to pay for damage you cause to other people’s property, including vehicles, fences, and buildings. It also covers certain medical and funeral costs.

However, these minimum requirements have limitations.

They won’t cover hit-and-run accidents, auto theft/vandalism, your car’s repairs, or “acts of God” like natural disasters, animal damage, falling objects, and fires.

For more comprehensive protection in these situations, you’ll need additional insurance coverage.

Full coverage in Florida

It includes more than just basic liability insurance.

It also covers comprehensive (for things like natural disasters, and theft) and collision (for accidents) damage to your car.

In Florida, the average cost for full coverage auto insurance is about $104 a month, with different parts of the coverage costing different amounts:

  • $32 for medical payments.
  • $117 for comprehensive.
  • $188 for personal injury protection (PIP).
  • $283 for collision.
  • $858 for liability.

You can save money by shopping around and looking for discounts.

Your rates depend on your age and driving history.

Young or problematic drivers pay more than older, safer ones.

Optional Auto Insurance Coverage

You can add extra options to your Florida full-coverage car insurance.

Such as roadside assistance, rental car coverage, GAP insurance to pay off your loan if your car’s totaled, and uninsured motorist coverage for accidents with uninsured drivers.

An image illustration of What is Full Coverage Auto Insurance in Florida
What is Full Coverage Auto Insurance in Florida
Source: (freepik)

The No-Fault Insurance System in Florida

In Florida, the “No-Fault” system means your PIP insurance pays for your injuries no matter who’s at fault.

But if you have permanent injuries or bills over $10,000, you can sue the at-fault driver.

If you’re at fault and have bodily injury insurance, it covers the lawsuit costs.

Without it, you pay from your pocket.

If a lawsuit happens, the at-fault driver’s bodily injury insurance pays for the settlement and legal fees.

Drivers with only minimum coverage pay out of pocket.

Florida also considers shared fault.

If the court says you’re 10% at fault, you get only 90% of your expenses covered.

Most Affordable Auto Insurance Coverage in Florida

Here are some affordable options for full coverage auto insurance in Florida:

For average rates:

  • Allstate: $4178
  • Direct Auto: $5235
  • GEICO: $3560
  • MetLife: $5699
  • State Farm: $3265

If you have poor credit:

  • Allstate: $4926
  • Direct Auto: $3068
  • GEICO: $3711
  • Progressive: $4950
  • State Farm: $3304

After recent accidents:

  • Allstate: $3745
  • Direct Auto: $4171
  • GEICO: $2670
  • MetLife: $4376
  • State Farm: $2410

As you get older and more experienced, your rates may go down.

Experts recommend getting new quotes every year for the best prices.

Full coverage insurance gives you maximum protection in case of a serious accident.

Consider it to safeguard your finances while driving in Florida.

Conclusion

Full coverage auto insurance in Florida goes beyond the state’s minimum requirements, providing comprehensive protection for drivers and their vehicles.

It includes liability coverage, as well as coverage for damages due to accidents, natural disasters, theft, and other unforeseen events.

While it offers robust protection, individuals need to evaluate their specific needs and consider additional coverage options to ensure their financial security in various circumstances.

Understanding the details of full coverage insurance and exploring options for customization can help Florida drivers make informed decisions to safeguard their assets on the road.

ALSO READ: What happens when You Withdraw an Auto Insurance Claim?

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