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Whether you are a Florida resident or you wish to move to this state, you need to know important details about the different insurance laws and requirements. You can use this guide that includes essential tips when applying for the coverage you need. In addition, you may consult the Florida Department of Financial Services for further details on state-mandated policies.

Auto Insurance in Florida

When you shop for the right coverage, you should know and understand Florida's auto insurance requirements. You can avoid legal issues and inconveniences when you obtain the following coverage that are mandatory in the state.

1. Personal Injury Protection of at least $10,000

This insurance provides you with full coverage during an accident regardless of the person who is at fault. You can also benefit from this coverage because it pays portions of the total cost including medical expenses, child auto expenses, and lost wages. The PIP also provides you with a $5000 death benefit.

2. Property Damage Liability of $10,000

The PDL is the portion that pays for the damage caused by the driver while operating the vehicle. Among the properties covered in this insurance includes other vehicles, telephone poles, buildings, and fences.

Get a Florida Auto Insurance Quote

Health Insurance in Florida

Florida law permits health insurance specialists to create several non-standardized policies, so you should read any policy carefully before purchasing it. Insurance policies differ, and some benefits are mandatory including mammograms, diabetes treatment, and childhood immunizations. Florida health insurance has these four main types:

1. Indemnity or fee for service

Indemnity plans are may be the most costly of all health insurance; however, this offers a wide selection of providers. With this type of plan, you are required to settle the full amount immediately. You should submit the bill to your insurer, so you could obtain a refund for the covered amount by the particular policy.

2. Preferred Provider Organization

When you purchase this insurance plan, you may select a health care provider outside or within a network determined by the policy.. Moreover, you are required to pay co-insurance or make a co-payment. If you want to save a large amount with this plan, it is ideal that you stay within your network.

3. Health Maintenance Organization

Quite similar with the PPO plan, this insurance policy requires you to settle a co-payment to your in-network physician. The main difference, though, is that the HMO plan will not refund the cost of services obtained outside your network. You should obtain a referral from your primary care doctor before you could receive treatment from a specialist.

4. Open Access HMO

When you need a specialist for a particular illness, you may choose to go out of your network. The only drawback is that the plan will reimburse about 50 to 80 percent. In addition, you may have to pay a deductible, as well as a co-insurance.

Get a Florida Health Insurance Quote

Home Insurance in Florida

It is necessary to insure your home in Florida because of the recent occurrences of natural calamities including storms, floods, and hurricanes. Having sufficient coverage will give you the peace of mind when unexpected events occur.

The most ideal homeowners' insurance plans that apply in Florida include the following:

1. Broad Form covers perilous incidences such as fire, explosion, volcanic eruptions, hailstorms, smoke, and several others.

2. Special Form protects your home from a wide variety of disasters not covered in the broad form.

3. Modified Coverage Form is the most limited among the three types of property insurance plans. It secures your property against riots, theft, vandalism, volcanic eruption, fire, explosion, and hailstorms.

Aside from these insurance plans, Florida law mandates home insurance policies that cover sinkhole damage. You should contact your agent to ensure that this coverage is included in your policy.

Get a Florida Home Insurance Quote

Life Insurance in Florida

Floridians may choose to apply for term life or permanent life insurance. Term life is the simpler form, and this provides short-term financial protection to the insurer or dependents. While the initial premium may cost less, as compare to permanent life insurance, the rates may increase for a certain period. Young Floridians who pay off their mortgages or raise children apply for term life insurance. The only downside of this plan is the short-term protection, and it does not build equity.

On the other hand, permanent life insurance offers a long-term financial security. This option includes cash savings and a death benefit. Although the premiums are high, the equity in this type of insurance builds after several years. This is the perfect insurance plan for Floridians who wish to attain their long-term financial goals and investment.

Get a Florida Life Insurance Quote

It can be challenging to search for the perfect insurance policy that meets your needs. Before you apply for Florida insurance, try to understand the laws and requirements mandated by the state. Compare the different policies offered by your insurance agent, and choose the ones that are relevant to your situation.

Agency Information

Over the past 23 years we have established a safe, stable, reputable relationship with many commercial and personal insurance carriers. We are able to offer commercial coverage in 12 states including: Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, Kansas, North Carolina, South Carolina, Tennessee, Texas, and Virginia.
Salter Insurance Agency
406 3rd Ave
PO Drawer 489
Ashford, AL 36312
Phone: 1-800-945-5719
Fax: 1-334-899-6813