Do You Need Motorcycle Insurance in Florida?
How Important is it to Have Motorcycle Insurance in Florida?
In almost all states, motor vehicle insurance or auto insurance is a necessity. However, in Florida, motor vehicle insurance laws are very different. You don’t need motorcycle insurance to ride a motorcycle.
In Florida, driving a four (or more) wheeler, you need to have personal injury protection or PIP. This is a no fault insurance and guarantees payment of up to $2,500 in case of a medical bill claim, filed within 14 days. In case of any emergency, the PIP will pay up to the upper limit of $10,000.
However, this means that if you don’t have motorcycle insurance and are involved in an accident, you can face financial disaster even if you have PIP for another vehicle.
Why You Should Have Motorcycle Insurance in Florida?
According to the law in Florida, a motorcycle owner can register the vehicle even without insurance. In case of any accident, however, the driver is financially responsible if charged in any kind of motorcycle crash. You can choose from one these financial options to cover any possible damages:
- Financial Responsibility Certificate – available after posting a surety bond with a company that has a state license.
- Self-Insurance Certificate from the Bureau of Financial Responsibility – available if you can show evidence of sufficient net encumbered capital.
- Liability insurance – purchased from any licensed Florida insurance company.
So if you want to be safe, you need insurance for your motorcycle and yourself.
How Much Should the Motorcycle Insurance Cover?
According to law in Florida the minimum liability coverage for passenger vehicles should be comparable to the coverage required for motorcycle insurance. This is
- One person’s bodily injury – $10,000
- Two people’s bodily injuries – $20,000
- Property damage in case of crash – $10,000
The No-Fault Coverage Clause
In Florida the no-fault coverage is applicable to four wheelers (or larger ones). This covers medical bills in case of any accident no matter who was at fault for the accident. The thing is that this law does not apply to motorcycles.
In the event of any accident, the motorcycle driver has to get compensation from the other driver to cover:
- Medical bills
- Income loss
- Pain and suffering
- Motorcycle damage and repair
However, this may prove to be difficult in case the other driver does not have liability insurance. Considering that one in four drivers in Florida do not have liability insurance, this is not a risk worth taking, particularly if you do not have any motorcycle insurance.
It would be best if you opt for uninsured motorist coverage or UMC to protect yourself in case of any accident involving an uninsured motorist.
Do You Face any Penalties if You do Not Have Motorcycle Insurance in Florida?
While you can register your motorcycle and drive in Florida without motorcycle insurance, if you have any accident, you are financially responsible for injuries and property damage. And if the no liability coverage is in effect, then you can face additional repercussions including:
- Suspension of driving privileges
- Suspension of registration and tag
- Having to buy bodily injury and property damage liability coverage for three years
- The possibility of civil judgments against you
Contact us for a free consultation regarding your motorcycle insurance needs. We also offer homeowners insurance, auto insurance and commercial business insurance as well. Our local family insurance agency can help you with all your insurance needs and save you money on quality coverage.