Those rates would rise chiefly for poorer Floridians, they said, while rates for people who already carry more than what lawmakers are proposing could see some rates fall. Fed up with Florida ’ s sky-high car indemnity rates, which systematically rank among the five highest in the nation, legislators are close to passing the largest changes to the state ’ sulfur indemnity laws in decades. The beak would do away with Florida ’ s “ no-fault ” car insurance laws, which require Floridians to carry $ 10,000 in coverage for their own medical, disability, and funeral expenses, known as “ personal wound protection ” coverage. That coverage pays out regardless of who was at fault in an accident — the rationality why Florida is a “ no-fault ” express. ( contrary to popular belief, it does not mean that fault is not assigned in an accident. ) Lawmakers are proposing doing off with the “ no-fault ” statutes and the $ 10,000 in coverage. alternatively, they would require everyone, when they register a vehicle, have a minimum of $ 25,000 for the wound or death of one person and $ 50,000 for two people. Florida is one of merely two states that does not require bodily injury coverage. The $ 10,000 in property damage coverage presently required would not change. Proponents believe that rates would fall by requiring more coverage on Florida ’ mho roadways — and eliminating “ personal injury protection, ” which they say is riddled with fraud. The bill would besides push the responsibility in accidents on to the policy policy of the person at mistake in the accident. No one knows for certain what the proposal would do to rates, however. Because the current version of the poster was introduced just last week, the country has done no independent analysis showing what its impact would be. Opponents warn it could exacerbate one of the reasons why Florida ’ south rates are so high : An estimate one in five motorists aren ’ thyroxine insured — one of the highest rates in the state. That issue could rise if the bill passes. Anyone who presently carries the minimal policy would probable pay more, plainly because they would be required to carry more insurance. Bell said after the meet that 45 percentage of Progressive ’ south customers in Florida carry less than what would be required if the bill passed, and that those people are susceptible to dropping coverage wholly. He said insurers wanted lower rates, since it draws more customers .
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Want more of our barren, hebdomadally newsletters in your inbox ? Let’s get started.Explore all your options “ We want to sell lower-cost coverage, because that means more people are buying indemnity, ” The bill presenter, Rep. Erin Grall, R-Vero Beach, derided insurance companies ’ warnings as “ scare tactics ” and “ disingenuous. ” “ The research merely doesn ’ t bear out that we ’ re going to see increases, ” Grall said subsequently. Lawmakers expressed frustration that the state has no clear idea what the poster would do. “ We simply have to have the data, ” said Rep. Tommy Gregory, R-Sarasota. “ We plainly have to have it. ” The poster immediately heads to the House floor, and appears headed to Gov. Ron DeSantis ’ desk. The Senate end week cursorily passed its own translation of the placard Wednesday night just a day after it was introduced, the consequence, senators said, of hours of negotiations between trial lawyers, insurance companies and hospitals. After the Senate passed its bill, the House fast-tracked its own, bypassing one committee so the bill could more cursorily make it to the House floor. The House besides changed its bill Monday making it about identical to the Senate adaptation. Both chambers have to pass the lapp beak before it makes it to Gov. Ron DeSantis ’ desk. The bill ’ s strange path this session is “ highly concerning, ” said Logan McFaddin, adjunct vice president of state government relations for the American Property Casualty Insurance Association, an diligence trade group. “ How can Floridians trust the march when it is not being followed ? ” McFaddin said in a argument. • • •
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