You can get classic car insurance in Florida by purchasing it from a traditional insurance company that offers classic coverage, like Geico or State Farm, or from a specialty insurer like Hagerty. When shopping for classic car insurance in Florida, you need to make sure that your vehicle meets each insurer’s requirements for coverage, including age specifications and annual mileage caps. Additionally, some insurers only allow you to purchase classic car insurance if you drive fewer than a certain number of miles each year.
Classic car insurance is specialty coverage for antique, exotic, and super-performance vehicles that are driven for pleasure rather than everyday use. This type of insurance is typically cheaper than standard car insurance, since classic cars are driven less than commuter vehicles. Classic car insurance also accounts for the fact that classic cars may appreciate in value over time, which is not the case for standard vehicles.
Yes, Florida is a no-fault state. Florida being a no-fault state for car insurance means all Florida drivers are required to purchase personal injury protection (PIP) insurance to cover their own medical bills after an accident regardless of who was at fault. Additionally, no-fault laws in Florida place limitations on a driver’s right to sue after an accident. Drivers in Florida can only sue if the injuries are permanent or the accident resulted in more than $10,000 in damages.… read full answer
Florida uses a pure comparative negligence system, meaning drivers can collect damages proportionate to their fault in causing the crash. For example, if they're 99% at fault, they can get 1% from the other driver.
Key Things to Know About No-Fault Insurance in Florida
Faster payouts. Police and your insurance company don't need to fully investigate the accident’s cause before you can get paid for your medical bills. As a result, your bills get paid more quickly than they would in a tort state, where fault for the accident determines the payout.
Coverage for medical expenses. Another benefit of having to carry PIP insurance is the knowledge that you're covered no matter who causes an accident. That can make driving in Florida a bit less nerve-wracking.
Higher premiums. Car insurance in Florida costs $2,313 per year, on average, while the national average cost of car insurance is $1,407 per year. States with no-fault laws typically have higher average car insurance costs due to the required PIP insurance.
Property damage is not covered. No-fault rules don’t apply to property damage. One or more drivers will be at fault after a collision, no matter which state you live in. The police and insurance companies consider Florida law, the circumstances of the collision, and drivers’ testimonies before deciding who is at fault.
Car insurance in Florida is $103 per month for minimum coverage and $284 per month for full coverage, on average. The cheapest insurance companies in Florida are Geico, State Farm and Travelers, and getting quotes from several companies can help you find the best deal.
Average Cost of Car Insurance in Florida by Category
The average cost of car insurance in Florida is 71% higher than the national average auto insurance premium, and Florida ranks 47 out of 50 for the most affordable car insurance rates in the U.S.. There are several factors that affect how much you’ll pay for car insurance in Florida, including your driving record, age, location, the amount of coverage that you purchase, and the insurance company you buy it from.
Finally, it’s worth noting that car insurance premiums in Florida are average, compared to the cost of coverage in neighboring states like South Carolina and Georgia. You can find more details in the table below.
Cost of Car Insurance in Florida vs. Neighboring States
In Florida, drivers need two kinds of insurance, $10,000 of personal injury protection (PIP) and $10,000 of property damage liability (PDL). Florida law also requires this car coverage on any vehicle driven in the state for more than 90 days during a 365-day period. That’s important because Florida has a large population of “snowbirds,” who live there part of the year and spend part of the year in other states. They may have out-of-state registrations and licenses, but Florida’s minimum PIP and PDL insurance requirements apply to them.… read full answer
Also called Florida no-fault insurance, Florida PIP insurance covers 80% of your medical expenses and 60% of your lost wages, regardless of who causes an accident. PIP coverage also protects you if you are injured in an accident with a motor vehicle while riding in someone else's car, walking, or riding a bike. Property damage liability coverage pays for damage you cause to other people's property in a car crash.
Florida’s minimum insurance requirements don’t provide much protection, however. You should think about raising the limits and adding other useful coverage. That might include bodily injury liability, collision, medical payment, or uninsured/underinsured motorist coverage.
Florida Car Insurance Requirements
Personal Injury Protection: $10,000 of coverage is required.
Property Damage Liability: $10,000 of coverage is required.
Collision (optional): Pays for repairs to your vehicle even if an accident is your fault.
Medical Payment (optional): Pays the 20% of medical bills that PIP does not cover, plus amounts over $10,000.
Uninsured/Underinsured Motorist (optional): Pays your claims if the at-fault driver has little or no liability insurance.
Bodily Injury Liability (optional): Pays for the other party’s medical bills and/or lost income over $10,000 if an accident is your fault. Coverage is commonly $100,000 per person, up to $300,000 per accident.
As a “no-fault” state, Florida allows you to drive legally without bodily injury liability insurance. Each person’s own PIP or no-fault insurance pays out for their injuries, no matter who causes an accident. However, Florida’s no-fault law is limited. When a victim’s injuries are permanent or serious (costing over $10,000 in medical bills and/or lost income), the injured party can sue the at-fault driver for losses. This makes it very smart to carry bodily liability insurance, which will provide you with defense in court and pay these claims up to the policy limit.
It can be tempting to save money by purchasing only the minimum coverage required in Florida. But that can leave you with high out-of-pocket bills if you’re ever involved in an accident. Compare quotes on all your insurance options so you can make an informed decision.
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