90.5 F
Spring Hill
Tuesday, May 28, 2024
HomeUncategorizedCar insurance bill advances

Car insurance bill advances

- Advertisement -

A measure that would repeal Florida’s current No-Fault Motor Vehicle Law has been passed by the State Senate Committee on Banking and Insurance.

Introduced by State Sen. Danny Burgess, SB 54 would repeal the current law and require that drivers carry bodily injury (BI) liability coverage instead. BI liability insurance pays for injuries a driver causes to another if the driver is at-fault in the accident. Under the current law, drivers must carry personal injury protection (PIP) coverage. PIP  pays for injuries sustained in an accident regardless of who was at-fault in the accident.

SB 54 cleared the committee on Jan. 26 by a 10 to 2 margin.

If passed by the full State Senate the bill also enacts $25,000 in financial responsibility for bodily injury or death in any one crash, or up to $50,000 for bodily injury or death of two or more people in any one crash.

- Advertisement -

SB 54 also establishes a new framework to govern motor vehicle insurance bad faith claims, and authorizes a specifically named individual to be excluded from specified insurance coverages under a private passenger motor vehicle policy, with the written consent of the policyholder.

The measure remains pending.


- Advertisment -

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.
We use Mailchimp as our marketing platform. By clicking to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing.

Most Popular