Florida Auto Insurance: Laws, Coverages, and
Policies Questions and Answers | latest update
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Terms in this set (288)
What is Financial Responsibility in A law requiring drivers to pay for damages or
Florida? injuries caused in an accident.
What are the three ways to trigger 1. Accident involving Bodily Injury (BI); 2. Accident
the Financial Responsibility law? involving Property Damage (PD) when a vehicle is
inoperative; 3. Certain serious traffic violations.
What are the minimum insurance $10,000 per person for Bodily Injury, $20,000 per
limits required to satisfy Financial incident for Bodily Injury, and $10,000 per incident
Responsibility? for Property Damage (10/20/10).
What does the split limit of 10/20/10 10 = $10,000 Liability per person injured; 20 = $20,000
mean? total for all injuries; 10 = $10,000 for Property
Damage.
What is a combined single limit in A limit that pays for liability and property damages
auto insurance? combined up to a stated amount, such as $30,000.
What happens if Financial The driver's license and vehicle registrations are
Responsibility is not carried at the suspended, and the driver must satisfy claims up to
time of an accident? the 10/20/10 requirements.
, What is an SR-22 form? A certification that auto liability insurance coverage
is in effect, required for drivers who have triggered
Financial Responsibility.
How long must the SR-22 For three years.
certification remain on file?
What are the consequences of failing The driver's license and vehicle registrations will be
to maintain SR-22 coverage? suspended.
What is the required coverage for Limits of 100/300/50 or a $350,000 bond for a
individuals found guilty of DUI? minimum of three years.
What must an insurance policy The phrase 'SIX MONTHS, NON-CANCELABLE,
include if it bears the SR-22 PER SECTION 627.7275, F.S.'
endorsement?
What is the purpose of the To help consumers understand auto insurance
Automobile Insurance Toolkit for before diving into the required material.
Consumers?
What is the significance of having a It protects drivers from financial liability in case of
valid auto insurance policy? accidents and satisfies legal requirements.
What must be done if an operator is They must appear before traffic court, and if no
caught without proof of insurance? coverage exists, their registration and driving
privileges are suspended.
What is a Named Nonowner Policy? A policy required for operators who do not own an
automobile but are required to have an SR-22 filing.
What does PIP coverage stand for? Personal Injury Protection.
Policies Questions and Answers | latest update
Save
Terms in this set (288)
What is Financial Responsibility in A law requiring drivers to pay for damages or
Florida? injuries caused in an accident.
What are the three ways to trigger 1. Accident involving Bodily Injury (BI); 2. Accident
the Financial Responsibility law? involving Property Damage (PD) when a vehicle is
inoperative; 3. Certain serious traffic violations.
What are the minimum insurance $10,000 per person for Bodily Injury, $20,000 per
limits required to satisfy Financial incident for Bodily Injury, and $10,000 per incident
Responsibility? for Property Damage (10/20/10).
What does the split limit of 10/20/10 10 = $10,000 Liability per person injured; 20 = $20,000
mean? total for all injuries; 10 = $10,000 for Property
Damage.
What is a combined single limit in A limit that pays for liability and property damages
auto insurance? combined up to a stated amount, such as $30,000.
What happens if Financial The driver's license and vehicle registrations are
Responsibility is not carried at the suspended, and the driver must satisfy claims up to
time of an accident? the 10/20/10 requirements.
, What is an SR-22 form? A certification that auto liability insurance coverage
is in effect, required for drivers who have triggered
Financial Responsibility.
How long must the SR-22 For three years.
certification remain on file?
What are the consequences of failing The driver's license and vehicle registrations will be
to maintain SR-22 coverage? suspended.
What is the required coverage for Limits of 100/300/50 or a $350,000 bond for a
individuals found guilty of DUI? minimum of three years.
What must an insurance policy The phrase 'SIX MONTHS, NON-CANCELABLE,
include if it bears the SR-22 PER SECTION 627.7275, F.S.'
endorsement?
What is the purpose of the To help consumers understand auto insurance
Automobile Insurance Toolkit for before diving into the required material.
Consumers?
What is the significance of having a It protects drivers from financial liability in case of
valid auto insurance policy? accidents and satisfies legal requirements.
What must be done if an operator is They must appear before traffic court, and if no
caught without proof of insurance? coverage exists, their registration and driving
privileges are suspended.
What is a Named Nonowner Policy? A policy required for operators who do not own an
automobile but are required to have an SR-22 filing.
What does PIP coverage stand for? Personal Injury Protection.
