Is Car Insurance in Florida Really Expensive?

Is Car Insurance in Florida Really Expensive?

Car insurance in Florida is Really expensive?  No, it’s PRICELESS!!

(This is opinion and not intended to be legal advice)

Each weekday morning, I make a cup of coffee and turn on the news for a few minutes before heading to the office.  The traffic report usually catches my attention especially as I notice a trend developing.  It seems to me that nearly every morning or evening rush hour, there are reported accidents at Duck Slough and SR 54 or Starkey Blvd and SR 54 in Trinity.

This article was published by Baynews 9 back in April, but the problem seems to be getting worse.

This morning, the news was reporting a multi-car accident involving 7-8 vehicles possibly at Duck Slough.  Perhaps what is most concerning about this trend is that while accidents continue to occur at these intersections, the number of uninsured drivers isn’t decreasing either.

The Insurance Journal reported in an article earlier this year estimated that 15-26% of Florida drivers are uninsured based upon a 2015 study.  I wasn’t able to find a reliable source of data for the number or percentage of drivers who do not carry BI or Bodily Injury coverage which may provide coverage for your injuries if the other driver is at fault for the accident.  It has been my experience that many of the very serious accidents end up with little or no insurance coverage provided by the “at fault” driver.

This particular accident involved a two-year-old girl sitting I the crushed space in the lower left corner of the picture.  Her car seat was driven into the back of the driver seat, breaking her leg, requiring surgery.  The driver and passenger were also injured.  It has been alleged that the driver of the other vehicle was intoxicated, and we quickly learned that he did not have insurance to cover the injuries sustained by the little girl and her parents.

This is just one of the examples of accidents involving injuries where there was not any coverage for injuries beyond the minimum coverage required by Florida law which included PIP or Personal Injury Protection coverage often referred to as “no-fault” insurance.  This coverage is required by law and will in general terms provide up to $10K of the cost of medical treatment or lost wages for the insured driver (not the other injured party) regardless of fault.  This is an antiquated and broken system which was originally adopted in Florida in 1972.  40 plus years later, this system is rife with misconduct, fraud, and abuse not to mention that an ambulance transport and ER visit will quickly use up most if not all of this coverage before any real treatment begins.

In 2018 and until the Florida Lawmakers finally address this broken and outdated system of PIP insurance with miniscule limits as compared to health care costs of this day, it is more important than ever to protect yourself.  Uninsured/Underinsured Motorist coverage isn’t an expensive optional coverage it should be your main focus when purchasing insurance.

Would you entrust a stranger to protect your family’s health and well being and potentially their future?  In most instances, the answer would be NO!  Why would you get in your car and drive o the roadways with countless strangers, hoping that they were responsible enough to buy insurance coverage to protect you and your family?

I encourage everyone to take a few moments and speak with their insurance agent to make sure you have adequate insurance to protect yourself and your family and don’t leave that to a stranger on the road!

Yes, Insurance is expensive in Florida, but you have no idea how expensive it can be NOT to have proper insurance.  Protect yourself and speak with your agent about Uninsured/Underinsured Motorist Coverage.