Florida Auto Insurance Requirements
Drivers in Florida are required to be covered by a current auto insurance policy. Minimum auto insurance coverage requirements in Florida are mandated by state law and the Florida Department of Highway Safety and Motor Vehicles. The following minimum coverage is required on every registered vehicle, except as noted below:
(Source: Florida Department of Highway Safety and Motor Vehicles)
Driving without the mandatory liability insurance in Florida can result in a driver’s license and registration suspension for up to three years and reinstatement fees of up to $500.
The Florida Automobile Joint Underwriting Association (FAJUA) is available to drivers who are unable to obtain required coverage through the voluntary market. More information is available on the FAJUA website or by calling 850-681-2003.
Factors Influencing Car Insurance Premiums in Florida
Finding cheap car insurance in Florida takes some legwork and research, but it helps that Florida ranks below the national average for car insurance costs. While many factors go into underwriting auto insurance, Florida insurance consumers enjoy market conditions that positively impact car insurance quotes and rates:
• State-mandated weather / storm related assessments add a burden to every auto insurance policy
• While rates are more expensive in high population centers, the rest of Florida is relatively rural
• Vehicle repair costs are generally less expensive in Florida than elsewhere
• Overall accident rates are lower than national averages
• A relatively percentage of uninsured drivers due to affordable rates
• Auto insurance fraud is above the national average
• Vehicle theft rates are below national averages
The average auto insurance premium for residents in Florida is $1,476 in 2011; the national average is $1,790.
Tips for Obtaining Cheap Car Insurance in Florida
• Defensive driving courses for those over 55 years of age may provide premium discounts
• Maintain a good driving record
• College graduates receive discounts
• Bind multiple policies (homeowners, life, auto) with the same provider
• Maintain a good credit score
• Create a personal “emergency fund” of up to $1500 and increase deductibles accordingly
• Discuss affinity discounts with your insurance provider
• Drop comprehensive and collision insurance on older vehicles
Florida Statistics
• Auto Theft: Florida’s auto theft rate is above the national average, but this rate has been dramatically decreasing over the past 10 years. This can be attributed primarily to anti-theft devices being standard on recent model cars, as well as public awareness of the issue.
(Source: Auto Thiefs)
• Automobile Accidents: The total vehicle miles traveled in Florida have declined in recent years, and following a nationwide trend, so have accident fatality rates. 2009 saw a significant decrease in the number of deaths in Florida motor vehicle accidents.
(Source: National Highway Traffic Safety Administration)
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