Have you had a setback and need to know the grace period for auto insurance in Florida?
Are you considering changing to a new Florida car insurance provider and want to make sure you have plenty of time to make the switch without being penalized?
Auto insurance is required in nearly all 50 states, and grace periods for car insurance payments vary from state to state with some states not having one at all. Luckily for Florida, we have a grace period for car insurance.
The grace period for Florida car insurance varies from situation to situation, so pay attention to the details in the blog to see how long you have to make your premium payments. We’ll also cover some other basics of auto insurance in Florida.
What You Need to Know About Auto Insurance in Florida
Before we get to the grace periods for auto insurance FL, it’s important to note some key facts about auto insurance in Florida.
Does Florida Require Car Insurance
Short answer, yes. Now let’s cover the state minimum insurance requirements for vehicles with four wheels that are registered in the state of Florida first:
1. Personal Injury Protection in Florida
One of the required insurance coverages for vehicles in Florida is personal injury protection (PIP.) The minimum coverage limit is $10,000.
Contact Fiorella Insurance Agency to get the cheapest car insurance.
PIP coverage is a valuable piece of coverage to have, as it covers more than car accidents. In the state of Florida, PIP coverage covers a variety of things including:
- Certain Passengers: A child, members of your household, and certain passengers who do not have PIP coverage are covered.
- School Bus Accidents: If your child is in a school bus accident, PIP coverage will cover injuries.
- Other Accidents: PIP coverage will cover you if you are in an accident in someone else’s vehicle, if you’re in an accident as a pedestrian, or as a bicyclist.
This insurance coverage is required to be held throughout the entire duration of licensing and registration of the motor vehicle. Remember that your limits will determine how much you pay out of pocket for medical care, so compare your plans wisely when it comes to coverage options. If you’re looking for cheap car insurance, this is one of the key pricing elements that car insurance companies take into account when setting your insurance rates.
2. Property Damage Liability in Florida
The other required insurance coverage for vehicles in Florida is property damage liability insurance (PDL), and the minimum coverage limit for that is also $10,000. That’s a combined total of $20,000 in coverage.
A Fiorella Insurance Agent can help you find and save money on the best car insurance from the auto insurance company that’s right for you.
PDL coverage will pay for damages for which you are liable if you or members of your family cause that damage as a result of a covered motor vehicle accident. This includes property that isn’t just a vehicle, so you may want to consider higher coverage limits for this.
Beyond the minimum requirements, there are some other things to take into consideration when purchasing auto insurance in Florida. For example, you may want to consider bodily injury liability (BIL) coverage in addition to your minimum required coverage for car insurance in Florida.
BIL coverage will cover “serious and permanent injury or death” if you cause an accident in a covered vehicle. This coverage also pays for legal defense in the event that you are sued by an injured party.
Getting Cheap Florida Car Insurance
When it comes to buying car insurance in Florida, you’ll also want to consider how much you are paying for deductibles in the event you are in an accident. Typically, the higher the deductible, the lower your insurance premium will be. However, that means you need to have emergency savings available to cover that deductible in case something happens. You will also need to evaluate your car insurance renewal fee(s) every year to ensure you’re still getting not only the best deal but have the right levels of coverage.
What’s the Grace Period for Auto Insurance in Florida?
The 2011 Florida Statutes have two different stipulations depending on whether or not you reserve the right to refuse renewal. Each of these stipulations varies as follows:
1. With the right to refuse renewal:
If you don’t pay your car insurance premium before the due date, your insurance policy will stay in force unless you have given appropriate intent not to renew your policy. The grace periods are (keep these in mind when you have even a 1 day lapse in car insurance coverage):
- Weekly Premium Policy: 7 days
- Monthly Premium Policy: 10 days
- All Other Policies: 31 days
2. Without reserving the right to refuse renewal:
Your Florida car insurance policy will stay in force during the grace period, and it may be paid during the grace period for your car insurance payment, even if you don’t reserve the right to refuse renewal. Those grace periods are:
- Weekly Premium Policy: 7 days
- Monthly Premium Policy: 10 days
- All Other Policies: 31 days
Keep in mind that these grace periods are subject to change as laws are updated, so watch for any legislation around auto insurance policies.
If you are caught driving without car insurance coverage, you may be subject to license penalties, such as having your driving privilege suspended for three years. There is also a penalty to reinstate your license, so don’t let your car insurance coverage lapse if you don’t want to risk having a hefty fine and paying a reinstatement fee. It is always advisable to stay up-to-date with applicable Florida car insurance laws.
5 Tips on Auto Insurance in Florida
Buying auto insurance can be a frustrating experience in the Sunshine State. It can be difficult to know how much coverage you need, whether or not you need to purchase optional coverage, and what car insurance discounts you qualify for. We always recommend full coverage auto insurance. The defintion of full coverage car insurance actually varies from state-to-state, but we can provide professional advice on the subject.
It doesn’t have to be a hair-pulling ordeal, though to get the best car insurance rates. With a few simple tips and the assistance of friendly licensed car insurance agency, you can get the best policy for your family and your budget with the lowest possible car insurance premiums.
Here are 6 tips on purchasing auto insurance in Florida:
- Get multiple quotes: Getting more than one quote on car insurance coverage is a smart way to potentially save money. If you’re lucky, the first quote you get will be the best, but that’s not always the case.
- Compare apples to apples: Make sure when you’re comparing quotes that you’ve selected all of the same coverage options. And check for any standout features between insurance companies.
- Consider the most coverage you can afford: Paying for medical expenses and a vehicle in the event of an accident is not inexpensive. The more coverage you have, the less you’ll have to pay out of pocket and the greater the financial protection you’ll enjoy.
- Look into optional coverages for added protection: To avoid paying too much out of pocket, look into optional coverage for things like roadside assistance and rental cars.
- Use your grace period cautiously: Having a grace period is incredibly useful if a financial situation occurs or you need to change policies. Just be careful that you don’t let your insurance lapse. What happens if you car insurance lapses? Typically, aside from finding yourself from driving around without required automobile insurance, when you go to get your insurance reinstated, your rates will typical be higher because you let your auto insurance lapse.
- Seek Unbiased Information: While auto insurance rates vary wildly among largest car insurance companies, a good insurance agent can help you get the best car insurance coverage. Our agency represents some of the largest, most well established, financially sound automobile insurance providers in the market. Whether you’re in the market for a new car or truck or are considering a used vehicle, our team of licensed insurance agents will work to get you the best deal on the most coverage at the lowest price.
These tips are designed to guide you down an easy path to auto insurance. Contacting a Fiorella Insurance agent is a great way to get the information you need without having to figure it all out yourself. They will help you out using a lot of the tips we’ve provided here.
Quick Recap on Auto Insurance Grace Periods in Florida
Grace periods are not a thing to ignore. Take care to make sure your premiums are paid before the end of your grace period to ensure you’re not at risk for fines and having your license suspended.
To recap, the grace periods, regardless of whether you reserve the right refuse renewal, are seven days for a weekly premium policy, 10 days for a monthly premium policy, and 31 days for all other policies. After that, your coverage will lapse. Stay insured by working with an agency that will get you the best coverage possible.
Looking for the best auto insurance coverage for you and your family? Fiorella Insurance Agency is committed to providing the best options and service to our clients.
