The Financial Responsibility Law in Florida

Anytime you go out on the road, you are at risk for an accident. In Florida, car accidents happen more frequently than almost any other place in the United States. It is important that you know how to protect yourself and what you need to do if you get in any kind of accident on the road.

Financial Responsibility Law

The Florida Financial Responsibility Law requires people who own or operate vehicles to have two types of insurance in order to ensure coverage for all types of accidents. These forms of insurance are personal injury protection (PIP) and property damage liability.

Personal Injury Protection (PIP)

The Florida no-fault law requires anyone who has a car for more than 90 days and resides in Florida to retain personal injury protection that is worth $10,000. With PIP, you can get immediate coverage if you are injured in an accident, regardless of who was at fault. The insurance will cover any significant injury damages totaling more than $2,500. One of the benefits of this form of coverage is that it keeps you from needing to deal with another insurance company before receiving the help that you need for your injury. It will cover medical bills, disability, funeral expenses, survivor’s loss, or any income that you lost because of your injury.

Property Damage Liability

Property damage liability follows the same idea as personal injury protection. It also covers $10,000 worth of damage and is used no matter who was responsible for the incident. The only difference is that personal injury protection is for a physical injury to the person in the crash and property damage liability is for any property that was damaged during the accident.

Bodily Injury Liability Insurance

Florida requires drivers to have additional insurance in case they have previously caused accidents that injured someone or have been convicted of driving under the influence or certain other offenses. This is called bodily injury liability coverage. It amounts to $10,000 per person and $20,000 per crash.

SR-22 Insurance Form

The SR-22 form is a certificate of financial responsibility that ensures you are meeting your states car insurance requirements. You are most likely required to file a SR-22 form if you have been convicted of a DUI, found driving uninsured, you have a large number of points on your record or if you have been involved in a serious injury causing accident.

A PDF of the financial responsibility form can be found here.

When Is It Used?

The financial responsibility law is used for a crash where you are at fault and someone has sustained an injury. It is important to note that a crash that involves no bodily injuries is subject vehicle no-fault law in Florida, which requires $10,000 in compulsory coverage.

Accurate policy information should be presented to officer investigating the crash. You should also ensure the information is recorded correctly in the report of the crash. Proper documentation will keep the department from contacting you and deter the likelihood of license suspensions if you have the proper coverage. If you do not have the required coverage, your license, tags, or both will be suspended for up to 3 years. You will also have to pay $15 fee to get reinstated and provide proof that you have the insurance for three years from the initial suspension.

Insurance liability can be a complex area of law, which bears significant consequence to Florida drivers if important details are not followed. Additionally, both at-fault, and not at-fault drivers can be negatively impacted by improper documentation procedures or misinterpretations of policies.

If you have been involved in any of the above scenarios or a crash and need assistance understanding the requirements and rules of Florida driving, the Fort Lauderdale car accident attorneys at Chalik & Chalik can help you. We have decades of combined experience in Florida personal injury cases and can offer you educated advice on how to proceed. We are dedicated to each of our clients and will take the times to learn about you, your specific incident, and what you need to move forward. Contact us today.