Motorcycle Insurance Requirements in Florida
Like any other state law, motorcycle insurance in Florida is very specific and has a few minimum requirements. Most states require at least proof of insurance, but Florida law is different in a few ways. First, it doesn’t, as a bare minimum, require personal injury protection to cover legal claims filed against you for injuries you cause to other drivers or passengers in accidents you cause. Other states do require at least bodily injury and property damage liability, but in Florida, only the former requirement is a must. Here are the other requirements and what you need to know.
There are two types of coverage that you need in motorcycle insurance florida, liability and bodily injury. Liability protects you from losses suffered because of an automobile accident, and bodily injury protects you against loss of life. Different states have various requirements for each kind of coverage, so the kind of coverage you want depends on the circumstances of your accident and your particular state’s laws.
No-fault is also known as no-fault insurance. The minimum requirement for this kind of coverage is that the insured have no-fault protection. This means that he or she must have a valid policy with a covered loss period, which varies from state to state. No-fault coverage is usually the most inexpensive kind of Florida motorcycle insurance, because the claim does not have to be proved, so the premiums are lower. The coverage is limited to medical payments, lost earnings, and other property damage liability.
One type of motorcycle insurance in Florida is comprehensive, which provides a wide range of coverage. This coverage covers damage from both the collision of the motorcycle and the damage caused by acts of nature. This includes fire, lightning, smoke, hail, or vandalism. In addition, comprehensive motorcycle insurance quotes in Florida include uninsured/underinsured motorists, whose cost is added to the total compensation if they are injured or hurt while operating a motorcycle in Florida. With comprehensive coverage, motorcycles are covered even if they are financed or rented, and any damage done to the vehicle is paid by the owner or borrower, not by the insurer.
One type of policy available to motorcycle riders is liability coverage, also known as personal injury protection (PIP). Florida residents who operate one or more motorcycles need to have PIP coverage to protect them against the costs incurred when they are involved in an accident. Typically, a typical Florida PIP policy will pay for expenses for medical care and hospital bills for passengers or third parties who are injured in a motorcycle accident. Without PIP, the cost of treating injuries and paying the cost of repairing a damaged motorcycle could be overwhelming.
Another type of insurance policy for motorcycle riders in Florida is property damage liability coverage. This type of policy is required by law in the state of Florida and requires each motorcycle owner to purchase the state’s portion of the PIP plan. Property damage liability coverage helps owners and borrowers reduce their costs due to property damage resulting from motorcycle accidents in Florida. Motorcycle riders in Florida who do not have property damage liability coverage can purchase additional types of coverage that are available to them through their agent or by contacting the Florida Department of Financial Services. Some of these additional policies include collision, comprehensive, and loss of use coverage. Borrowers need to have a property damage liability coverage policy with a higher maximum limit in order to legally drive their motorcycle on Florida roads.
Collision and comprehensive coverage are two of the most important elements of a motorcycle insurance policy in Florida. Florida residents need to have both collision and comprehensive coverage on their motorcycles if they want to legally ride their bikes on Florida roads. Collision coverage pays the cost of repairs to the motorcycle in the event the bike is damaged by an accident; comprehensive coverage pays the cost of repair to the bike or the cost of replacing the motorcycle if it is stolen, damaged in a fire, or is totally destroyed in an earthquake or flood.
No-fault laws in Florida require motorcycle riders to have insurance on their motorcycles. Those who do not currently have no-fault laws in Florida may register their vehicles at the Florida Department of Financial Services or contact their insurance provider directly to find out if they need to purchase no-fault insurance in Florida. Riders who already have no-fault laws in Florida can still purchase comprehensive and collision insurance to be protected on Florida roads.