Live Insurance News

Is Florida also headed toward an auto insurance crisis?

November 15, 2023November 14, 2023 Logan B.

Auto insurance - Crisis coming to Florida

The state is already teetering on the edge in its property coverage sector, but are vehicles next? Florida has long contended with challenges in its auto insurance industry due to the way the laws in the state open the door to fraud and widespread litigation, both of which are highly costly to insurers and, therefore, to drivers who must pay higher premiums every month. Among the issues driving this problem include the activities of certain glass repair shops and lawyers. A recent The Washington Post report has pointed to a…

Florida motorists now pay the most for their auto insurance

February 15, 2023February 14, 2023 Marc

Though Michigan had been the most expensive state for coverage, Florida drivers now shell out more. Drivers in Florida have a new reason to groan over the cost of vehicle ownership in the state, as the cost of auto insurance there is now more expensive than anywhere else in the country. Everything from the price of gas to the cost of vehicle repairs is on the rise, and so is coverage. The cost of auto insurance is increasing across the United States. Florida certainly isn’t alone in that. What has…

Florida no fault car insurance repeal moves ahead in state Senate

January 17, 2018September 15, 2020 G. Turner

Senator Tom Lee (R-Brandon) introduced the bill in the hopes of controlling skyrocketing premiums. The no fault car insurance bill meant to repeal the current system in Florida has cleared an important Senate committee. Should it become law, it would mean that drivers will need to purchase bodily injury coverage. The primary hurdle so far has been the argument that lawsuits and premiums would rise further. Many of the objections have come directly from insurance representatives. Should the no fault car insurance be repealed, it would mean that drivers in…

Auto insurance law goes into effect tomorrow

December 31, 2012April 30, 2013

Florida drivers will face new coverage regulations starting January 1. As of tomorrow, Floridians will be facing reforms to the auto insurance law that are designed to help to play an important role in the effort to battle fraud in this industry within the state. This will involve considerable changes to the guidelines for personal injury protection (PIP). The first phase of the reforms to the law, which were designed to help reduce the success of staged accident claims and other forms of auto insurance fraud, were implemented earlier this…

Auto insurance reforms to PIP have yet to lower premiums

October 3, 2012April 30, 2013

Florida drivers are still waiting for the promised savings to kick in. Over one hundred auto insurance companies were required to report their intentions to reduce their rates on Monday, as a result of the massive changes to the personal injury protection (PIP) plan in Florida. However, as many predicted, these insurers didn’t show any clear intention to reduce prices. A new law in the state required that these auto insurance providers send a rate filing to the Office of Insurance Regulation at the start of October, which would…

New auto insurance law in Florida to prevent fraud

July 6, 2012April 30, 2013

State cracks down on massive scam problem with several new laws that took effect on Sunday. Three new measures and anti-fraud auto insurance laws will be included among 150 new regulations in Florida, in a part of the state’s efforts to crack down on a serious scam problem with their personal injury protection (PIP) laws. The changes take direct aim at the way that auto insurance functions within the state. The PIP coverage has been in place in Florida since 1972. Since that time, all drivers in Florida have been…

Governor Scott signs law in the hopes to minimize phony auto claims

May 7, 2012April 30, 2013

The bill signing occurred in Jacksonville at a ceremony on Friday. Though the city of choice for the signing of the Florida insurance fraud legislation by Governor Rick Scott is not exactly a hotspot for staged accidents, it still drew attention from the entire state, including Sheriff John Rutherford, who is backing the new law. The signing took place in the parking lot located next to the Northeast Florida Criminal Justice Training and Education Center on the North Campus of Florida State College, where Scott added his autograph while surrounded…