Florida Financial Responsibility Law

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The Bureau of Motorist Compliance exists to make sure that any persons responsible for a motor vehicle accident are accountable for his or her actions. Taking responsibility can include compensate the victim(s) for property damages and/or injuries.

In order to obtain one’s license or to drive a car or truck on the highway, the Florida Financial Responsibility Law has certain minimum requirements. The following minimum requirement provides ample amount of coverage in many vehicular accidents. The minimum coverage requirement is as follows:

  • Bodily injury liability ……………………….$10,000 per person and $20,000 per crash
  • Property damage liability …………….…. $10,000 per crash
  • Personal injury protection limits …….. $10,000 per person per crash

Businesses and individuals must prove that they have enough money—or assets—to cover any damages they may cause in the event of an accident under the financial responsibility law. It is possible to comply with the financial responsibility laws by purchasing the minimum state car insurance required by the state.

Get started with a free initial consultation; call (954) 504-6577 or contact us online.

What Should I Do After an Auto Accident?

In the event that a person has been in an accident they should contact a law enforcement agent to report the accident. An officer can help an individual to get compensated by filling out necessary forms regarding the accident. Not contacting an officer can result in the injured party not being compensated at all for his or her injuries or property damages.

What Documentation Is Needed After an Auto Accident?

An accident that involves property damage or bodily injury will require The Department of Highway Safety and Motor Vehicles to mail a notice requesting that the owner or operator of the vehicle involved provide proof of liability insurance. If the responsible party does not have liability insurance he or she will be required to obtain coverage, in addition to having the newly purchased insurance certified by having a For SR-22 completed, the individuals will also need to have a note or documentation from the victims that were injured stating that he or she has been compensated fully for the damages and injuries that they have encountered.

What Happens If I Don't Have Vehicle or Insurance Documentation?

Failure to provide any of the above documentation can result in the driver or the vehicle owner having the tags and registration to his or her vehicle suspended. The driver can also have his or her license suspended for three years. After three years has passed the driver will be able to get their license back after showing proof that he or she is in compliance with the liability requirement and pay a $15 reinstatement fee.

How Can the Florida Financial Responsibility Law Be Satisfied?

In states with financial responsibility laws, you may not be required to give proof of insurance at the time of registration, as these laws require you to prove you have enough money saved to cover damages.

If, however, you fail to demonstrate the required level of financial responsibility after an accident or if you violate a traffic rule, your driver's license or car registration may be suspended. A person involved in an accident, regardless of who is at fault, must demonstrate that they have the necessary requirements or face penalties imposed by your state's law. Keeping an automobile insurance policy is the most common way to comply with the law.

How Can Zimmerman & Frachtman Help?

Keeping in mind that no two cases are the same, all of our attorneys are dedicated to defending the injured and seeking justice on behalf of our clients. Zimmerman & Frachtman understands no two cases are the same, and no two cases are prepared the same way.

Our trial attorneys represent clients in negligence cases involving serious personal injuries, wrongful death cases, and financial responsibility law.

Contact us online or call (954) 504-6577 to learn more during a free, confidential consultation.

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