No-Fault is Here to Stay! (For Now)
If you’ve read some of our prior blog posts, you should know PIP is the mandatory no-fault portion of your car insurance policy. PIP provides $10,000.00 in medical payments (although it only pays 80% of the bill, leaving you to pay the remaining 20%, and any amount above the $10,000.00 limits). PIP pays your medical bills whether you were at fault or not (hence, “no-fault” coverage).
By vetoing the bill, Florida remains only 1 of 2 states that does not require some form of injury liability coverage for auto insurance policies. The bill ultimately failed due to the large amount of uncertainty as to how the changes would affect customer premiums.
As it stands, Florida has one of the highest auto insurance premiums in the country. Opponents of the bill feared the changes would cause premiums to increase for the poorest Floridians. Proponents of the bill thought premiums would drop since PIP fraud would be a thing of the past.
Despite the outcome, Governor DeSantis left the door open for a change in Florida auto insurance in the future. He recognized the current system has flaws and is deficient.
Maybe sometime in the future we will have a balanced bill that will guarantee injury victims a way to be compensated by the negligent drivers who caused their injuries. For now, the best thing you can do is protect yourself. Talk to your insurance agent and add uninsured motorist protection (UM) to your policy! It is the only way to guarantee additional compensation for your injuries above your no-fault coverage in a car crash.
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