Auto Insurance Florida No Fault Coverage, Can Save You Money: Florida is one of thirteen states in the United States that requires you to carry no fault insurance. However, just because the name is no fault, it does not mean that you will not be found liable for an accident. In fact, the authorities will assess fault on a case by case basis, just as they do in other states. The difference in your coverage is actually the amount you can be reimbursed and who will reimburse you. Unlike no fault states, your Florida cheap car insurance may the one to reimburse you even when you are not at fault.

Limited Liability for Drivers with Florida’s No Fault Coverage

Unlike states that require traditional insurance, there are limits on how much a person can be held responsible with auto insurance. Florida No Fault Coverage laws have set limits that only require the insurance company to pay for specific amounts for damage or injury. For example, if you are injured in a wreck and have to miss work, you will only recover exact wages for that date.

Check Out How Auto Insurance Florida No Fault Coverage, Can Save You Money

Benefits of No Fault Auto Insurance

While no fault insurance does limit the liability of drivers and insurance companies, it does help to lower insurance premiums. States such as Florida, which have no fault insurance, traditionally have lower premiums for consumers. This is due to a decrease in the number of frivolous lawsuits directly related to auto accidents. In addition, many consumers find that settling an insurance claim is much faster in states which require no fault policies. Because you report your claim directly to your insurance company rather than the other drivers, you often receive better service.

Will You be held Responsible for an Accident Even If You’re Not at Fault?

The term “No Fault” often confuses drivers. Many people think that they will not be held responsible if they cause a wreck or that they will be held responsible if they are in a wreck they didn’t cause. However, many things are the similar between no fault insurance and at fault insurance. You can still receive points or negative remarks on your driving record if you cause a wreck, and you are not assessed penalties if you did not cause the wreck. Basically, no fault insurance eliminates the need to prove fault before you can be reimbursed for your loss. You file with your insurance company and the other driver files with theirs. You both get reimbursed for your loss and the police assess penalties after the fault is determined.

Are Premiums Still Based On Your Driving Record?

Insurance companies who offer no fault policies still base your insurance rate on your driving record, credit score, and type of coverage selected. In Florida, you must carry a minimum of $10,000 for one person’s injury, $20,000 coverage for all passengers, and $10,000 for property damage. If you wish to have more coverage, your premium will go up. In short, no fault insurance is very much like at fault insurance, except you can get lower rates and quicker reimbursement.