Florida Insurance Requirements & Rates

Florida requires minimum liability coverage of 10/20/10 (bodily injury per person / per accident / property damage). Florida is a no-fault state, meaning your own insurance pays for your injuries regardless of who caused the accident. Uninsured motorist coverage is not required but recommended. Personal injury protection (PIP) is also required.

Florida homeowners face risks from hurricanes, flooding, sinkholes, tropical storms. The flood risk level is high and earthquake risk is low. Separate hurricane deductible (2-5% of dwelling value) required in most policies. The average annual home insurance premium is $7,922.

Florida requires riders under 21 to wear helmets. Lane splitting is not legal. Eye protection is required for all riders. The riding season is year-round.

Yes, workers' compensation insurance is required in Florida. Non-construction businesses with fewer than 4 employees exempt. Florida has approximately 3,000,000 small businesses, with top industries including Tourism & Hospitality, Healthcare, Real Estate.

No, Florida has not expanded Medicaid. The state uses the federal marketplace at healthcare.gov. The uninsured rate is 12.7%.

Yes, landlords in Florida can require tenants to carry renters insurance as a condition of the lease. About 35% of Florida residents are renters, with average monthly rent of $1,450.

Florida has an uninsured motorist rate of 20.4%, which is above the national average. Factors include hurricane season brings catastrophic wind and flood damage to vehicles. Although uninsured motorist coverage is not required, it is strongly recommended.

With a median household income of $63,062, most Florida families should consider 10-12x their annual income in life insurance coverage. Currently, 48% of Florida households have life insurance.