Auto insurance has complied with the same laws for 50 years in the state of Florida. However, that is about to change. And it is that in the state senate it was proposed to pass a new law that can radically change insurance. Now, you may ask yourself: How does it affect me? Will I pay more? What changes will there be and why? Let’s answer some questions that many users have after the announcement of this news.
What changes will be made to insurance?
Florida is the state with the highest percentage of uninsured cars. Why is this? At the high cost of them and the few benefits they offer. The minimum required coverage or PIP is $ 5,000 and there is no obligation of damages to third parties.
But that may change. If this law is approved, a minimum coverage of $ 25,000 would be required and the third party damage policy will also be mandatory, as in other states of the country. What is wanted with the changes is to ensure that the insurance Lower your costs, as more people will have to purchase this service. In addition to avoiding fraud, which are very common in this state.
Am I going to pay more?
These days auto insurance can be expensive in Florida, and some users choose not to pay or purchase an insurance service. If that is your case, with this law you must pay a mandatory auto insurance policy, which will generate an extra expense to your budget and you will end up paying more than now.
On the other hand, if you have a minimum policy, you may also have a considerable increase in the cost of insurance. Homeowners with a full coverage policy will be the least affected by rising prices.
However, what the state hopes is that insurers will lower coverage plans. The fact that you do not have to pay if you are not guilty is something that can help citizens become aware and drive with caution, avoiding insurance costs.
How do these changes affect me?
Accident risk is a determining factor in calculating insurance premiums. If you are at fault in an accident, the cost of the accident can increase. So now we must drive more carefully in the state of Florida, to avoid accidents; so the risk will decrease, something positive to be expected.
By having to determine a culprit, it may take more time for insurance companies to pay for medical expenses. This would affect hospitals and health care providers. medical service.
However, in terms of car repair by insurance, it is expected that it will continue to function as it does until now. Since this sector will not be the most affected. Hospitals, on the other hand, will have to care for patients and then take care of who and how they will charge.
Although this law has not yet been approved and there are many doubts that remain in the air, we must wait for more indications to know what other changes will arise. At Opportunity Insurance we want to help you, and that is why we will keep you up to date with all the information that may arise regarding this issue.
On the other hand, we hope that all insurers can have more affordable prices for all users. You can visit our page or call our offices and we will gladly give you information about the auto insurance plans we have for you. We hope these changes will be of benefit to all.