Am I required to buy auto insurance in Florida if I own or lease a car?

Yes, if the owner leased the vehicle in Florida, you’re required to have automobile insurance. If you own a car you’re required to have PIP and property damage coverage. You have to carry at least $10,000 in property damage. If you lease a car for more than a year, you’re required under Florida law to have at least $50,000 in property damage coverage and $100,000 in bodily injury coverage.

Property damage coverage is the insurance that you purchase where if you negligence and you damage somebody else’s property, it pays to repair that property. Bodily injury insurance is insurance that you purchase where if you are negligence and you injure somebody else, it pays for the damages related to those injuries. The PIP coverage that you’re required to have, pays for your medical bills. Florida is a no-fault state and the first $10,000 of your medical bills will be covered by your PIP coverage, regardless of whose at fault for the accident.

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