December 4, 2023


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New bill could increase Florida drivers’ auto-insurance rates

Rates in Florida could go up by as much as $300 a year if you carry the bare minimum of $10,000 for personal injury protection insurance.

Governor Ron DeSantis could sign a bill requiring mandatory bodily injury starting at $25,000. That decision would mean your rates could go up 50{de3fc13d4eb210e6ea91a63b91641ad51ecf4a1f1306988bf846a537e7024eeb} as early as January.

John Gardner, who owns the Lee County Insurance Agency, pointed out that 26{de3fc13d4eb210e6ea91a63b91641ad51ecf4a1f1306988bf846a537e7024eeb} of drivers on the road carry the minimum limits of bodily injury coverage. He said those who currently carry $25,000 in injury coverage may not see any increase in their rates.

Gardner worries that increased coverage could cause more fraud.

“There is a potential that $25K is going to be pegged for pain and suffering when there may or may not be significant injury,” Gardner explained.

Injury and accident attorney Sean King believes the legislature was trying to make things easier for people involved in serious accidents, by fixing their vehicle and paying for injuries they sustain.

“What about a landscaper with a broken arm? He’s out for weeks and months before he’s back to work. What is a roofer going to do with a broken leg?” King asked.

The bill requiring the change is on the governor’s desk. NBC-2 reached out to the governor’s office to find out when or if the governor plans to sign the bill but we did not hear back.

Pinnacle Actuarial Resources released an analysis explaining how the change could raise rates: