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What are the car insurance requirements in Panama City Beach, Florida?
It’s important to note that your insurance policy has to be issued by a company licensed to do business in Florida and can not be from another State.
The No Fault insurance law is used in only a few States and Florida is one of them. If you are moving to Panama City Beach from another State, you may be unfamiliar with No Fault insurance. If you want to find the right insurance for you and your family, you need to understand the law.
Florida State law requires you to have a minimum car insurance coverage of:
- $10,000 of Personal Injury Protection
- $10,000 of Property Damage Liability
Personal Injury Protection (PIP) in Panama City Beach,Florida
This element of your car insurance covers you in an accident regardless of who is at fault. Costs incurred through lost wages, medical expenses and other damages are all covered under your Personal Injury Protection policy. Personal Injury Protection also pays a $5,000 death benefit.
Property Damage Liability (PDL) in Panama City Beach,Florida
This covers damages to other people’s property caused by you or a member of your family. Property may include fences, buildings, other road vehicles or roadside items such as road signs.
Factors that can affect Auto insurance requirements in Panama City Beach, Florida
Bodily Injury Liability (BIL) is not required for all drivers, only for higher risk ones. Higher risk dirvers include those who have previously caused an accident, need SR22 insurance or have poor driving record.
It is a criminal act to drive without car insurance in Panama City Beach, FL. Sooner or later you will be caught and may face criminal charges. You are likely to be forced to carry SR22 insurance and pay any fines issued against you. The Department of Motor Vehicles has the power to suspend your license for up to three years!
Driving under the influence is another very serious driving offence. A driving under the influence conviction will result in you having to file a FR44 Form. Traffic violations, a poor driving record and SR22/FR44 convictions will inevitably mean higher car insurance premiums.
Florida No Fault insurance explained
Basically, No Fault insurance simply means that each driver is covered by his own insurance policy but have restricted rights to legally seek recovery for losses caused by the accident. This means, even if you are at fault, you can not be sued for damages.
Many people in Panama City Beach, Florida however, are under the impression that their policy will cover all costs.It is important to know that is not the case. Your insurance covers only the medical bills up to your pre-defined limit – the legal minimum in Flordia being $10,000. The at fault driver’s insurance should cover you if your property and car have been damaged.
Florida No fault car insurance law is intended to reduce lawsuits between drivers. You can only sue the ‘at fault’ party if you are seriously injured or disfigured.
Other policies you might consider for your Panama City Beach car insurance
Experts say that you should never go with the legal minimum cover. In a serious accident a minimum coverage policy will hardly cover your expenses. Higher limits and additional cover will guarantee that you are properly insured. Adding additional cover could include:
- Adding collision and comprehensive coverage.
- Uninsured/Underinsured Motorist insurance coverage.
- Increasing your deductible to help offset some of the additional costs.
Affordable auto insurance in Panama City Beach, FL
Finding cheap auto insurance in Panama City Beach, FL, is easier than you think. It really is as simple as shopping around and comparing quotes from reputable insurers. Make sure you don’t accept your renewal quote because that’s exactly what your company expects you to do. You are in control because the insurance companies in Panama City Beach, FL are doing all they can to attract new customers!
They offer discounts and special rates which are only available to new customers.
Under many circumstances, even young drivers car insurance in Panama City Beach may be cheaper than you think How about getting cheaper quotes because of consitently good grades? As a parent this is really a win-win situation, if you encourage you son or daughter to get better grades they’ll be getting a better start in life AND cheaper car insurance!
If you are a senior driver, you can also find cheap auto insurance in Panama City Beach. The lower annual mileage and the fact senior drivers don’t driver expensive, fast cars are just some of the reasons.
What ever your car insurance needs, compare Panama City Beach car insurance quotes NOW and you could save up to 35%!
Tags: Panama City Beach Auto Insurance Quotes, Panama City Beach FL Auto Insurance, Panama City Beach Insurance Requirements
