We feel it important to keep you advised of the changing landscape in motor vehicle insurance requirements in Florida. We previously wrote about the new Personal Injury Protection (“PIP”) law that went into effect on January 1, 2013. Now, the 2013 Florida Legislative session may bring yet another change, a major one.
Senate Bill SPB 7152 has been released by the Florida Senate Banking & Insurance Committee to be heard and voted on by that committee on Tuesday, August 9, 2013. This bill changes a long history of self-insured motor vehicle insurance coverage in Florida. It would repeal the requirement that Florida car owners carry a minimum of $10,000.00 in PIP coverage, which provides the insured with medical and lost wages benefits no matter who is at fault in causing the car accident. Instead, it would require Florida car owners to carry mandatory Bodily Injury Liability coverage with limits of $25,000.00 per person/$50,000.00 per accident. Bodily injury liability coverage pays for injuries to others that is when you are at fault for having caused the car accident.
Here is a link to SPB 7152