Auto insurance provides the coverage you need to be on the road.

Florida consistently ranks in the top five most expensive states for auto insurance because of a uniquely difficult combination: the highest uninsured driver rate in the country, a fraud-prone no-fault PIP system, dense urban traffic, hurricane and flood vehicle claims, and a heavily litigated legal environment.

Florida requires $10,000 in Personal Injury Protection (PIP) and $10,000 in Property Damage Liability (PDL). That is the legal minimum — it is not adequate protection for most drivers.

Florida is a no-fault state: PIP pays your own medical expenses regardless of fault. Bodily Injury Liability (BIL) is not required for most Florida drivers, but BIL is strongly recommended. Most agents recommend at least $100,000/$300,000 in BIL, plus Uninsured Motorist coverage

Liability-only coverage pays for damage and injuries you cause to others but does not cover your own vehicle. Full coverage adds comprehensive and collision coverage to your policy, which pays for damage to your own vehicle from accidents, theft, and other covered losses.

After an accident, you file a claim with your insurance company. They assign an adjuster to assess the damage and determine what your policy covers. Depending on who is at fault and what coverage you carry, your insurer will pay for repairs, medical bills, or other covered losses up to your policy limits, minus your deductible.

A standard auto policy typically includes several coverages:

• Property Damage Liability and Bodily Injury for harm you cause to others.
• Collision and Comprehensive Coverage protects your own vehicle.
  Uninsured/Underinsured Motorist Coverage protects you when the at-fault driver doesn’t have adequate insurance.

Insurance companies use your driving record to assess how likely you are to file a claim. Accidents and violations signal higher risk and result in higher premiums, while a clean record typically qualifies you for lower rates and may make you eligible for safe-driver discounts.

Florida’s no-fault law requires your own PIP coverage to pay your medical bills and lost wages after an accident — regardless of who caused it — up to the $10,000 policy limit.

PIP covers 80% of medical expenses and 60% of lost wages, up to $10,000. You must seek initial medical treatment within 14 days of the accident for PIP to apply. PIP does not cover vehicle damage or pain and suffering. You can pursue the at-fault driver for non-economic damages only if your injury meets Florida’s serious injury threshold — permanent injury, significant scarring, or death.

Florida has one of the highest uninsured driver rates in the country — estimated at 20%+ of all motorists. UM coverage is your financial protection when an uninsured or underinsured driver causes a serious accident.

💡 Stacked vs. non-stacked UM: Stacked UM multiplies your per-vehicle limit across all insured vehicles on the policy. Two vehicles with $100,000 UM each = $200,000 total stacked protection. Stacked UM costs more but provides meaningfully better protection and is strongly recommended for all Florida drivers.

Collision: Pays for damage to your vehicle after an accident with another vehicle or object. Optional unless required by a lender.

Comprehensive: Pays for non-collision losses — theft, vandalism, fire, flooding, hail, and animal strikes. Optional unless required by a lender. In Florida, comprehensive losses are exceptionally common — hurricane damage and flooding on the coasts, vehicle theft statewide, and wildlife strikes on rural Marion County roads.

‘Full coverage’ is an informal term with no legal definition. It generally means liability, collision, and comprehensive combined — but it does not automatically include Uninsured Motorist coverage, which must be added separately and is critical in Florida.

A truly comprehensive Florida auto policy includes: Bodily Injury Liability, Property Damage Liability, Personal Injury Protection (PIP), Uninsured/Underinsured Motorist (UM/UIM), Collision, and Comprehensive. When any agent or insurer says ‘full coverage,’ always confirm whether UM is included.

Collector car insurance is specialized coverage for classic, vintage, exotic, or high-value vehicles not used as daily transportation. The defining difference from standard auto insurance is how the vehicle is valued after a total loss.

Standard auto: Pays actual cash value (ACV) — market value minus depreciation. A 1967 Corvette on a standard policy may pay out far below its true collector market value.

Collector car: Uses agreed value — a pre-set dollar amount agreed to at policy inception. If the car is totaled, the insurer pays the full agreed amount with no depreciation deducted.

Agreed value: The insurer pays the full pre-set amount after a covered total loss, with no depreciation. This is the gold standard for collector vehicles.

Stated value: The owner declares a value, but the insurer pays the LESSER of the stated value or actual cash value. This often surprises collectors at claim time — stated value is a ceiling, not a guarantee.

Actual cash value: Market value minus depreciation — appropriate for daily-use depreciating vehicles, but inappropriate for collectibles that appreciate. Never insure a collector vehicle on ACV. 

⚠️ ‘Stated value’ and ‘agreed value’ sound similar but are fundamentally different. Always confirm in writing whether your policy pays the full stated/agreed amount or the lesser of that amount and ACV. If it’s the lesser, you do not have agreed value coverage.

A high net worth vehicle collection in Florida is best protected under a dedicated collection policy with agreed value on each vehicle, comprehensive liability coverage reflecting the collection’s total value, and a personal umbrella that accounts for the collection’s profile.

A properly structured collection program includes: Agreed value per vehicle (reviewed annually as market values change). Blanket collection coverage (when individual scheduling is impractical). Coverage at shows, events, and in transit — including transport to Amelia Island Concours, Palm Beach Cavallino Classic, and track days. Worldwide coverage for vehicles stored or shown outside Florida. Spare parts and memorabilia coverage. Carriers: Chubb Masterpiece, AIG Private Client Group, PURE, and Hagerty.

Florida does not require special coverage beyond standard state minimums — but standard personal auto policies are often inadequate for high-value vehicles, and many standard carriers will not insure vehicles above certain values at all.

Standard personal auto policies cap coverage at $150,000-$200,000 and will not write agreed value for high-performance vehicles. Specialist carriers provide: agreed value, OEM parts requirements, zero-depreciation glass, and inflation guard on agreed values.

A personal umbrella policy provides additional liability coverage above the limits of your auto and homeowners policies — typically in $1 million increments up to $5 million or more. For high net worth individuals with significant assets and valuable collections, an umbrella is essential, not optional.

In Florida’s litigious environment, high net worth individuals are frequent targets for large liability claims. A properly sized umbrella — often $2-$5 million for clients with significant collections and assets — is one of the most cost-effective protections available.

Yes — a properly structured collector car policy covers the vehicle during transport to shows, auctions, concours events, and other activities, including while loaded on an enclosed transporter. Standard auto policies typically exclude or severely limit coverage for vehicles in transit on a trailer.

If you are consigning a vehicle to a Florida auction, confirm whether the auction house’s coverage extends to your vehicle or whether your own policy must respond.