Do You Need Motorcycle Insurance in Florida?
As many people procure motorcycles for convenience, the number of road accidents involving motorcycles has increased. In 2020, there was a recorded 5,458 motorcycle fatalities, which is the main reason many states require motorcycle insurance. However, some states don’t.
So, do you need motorcycle insurance in Florida? Let’s find out the answer here.
What is Motorcycle Insurance?
Motorcycle insurance works similarly to car insurance. It gives you financial protection for the injuries or damage you may get while driving.
The standard motorcycle insurance policy covers liabilities, which means that it can pay for the damages you brought about to the other party while also giving you coverage for your own property and injuries. If you have a lot of motorcycles, you can opt for a multi-bike policy. Doing so might get you a discount from the provider.
If you ride a motorcycle that isn’t yours, your insurance policy may still cover you but not entirely. You can ask your insurance provider directly what your policy will cover if you get into an accident while riding someone else’s bike, just to be sure.
What Does Motorcycle Insurance not Cover?
The coverage of your motorcycle depends on your policy. Some policies don’t cover the specific uses of your vehicle. Given that, you might extend the range through a rider or endorsement or purchase separate coverage.
- Commercial Use of Motorcycle: if you are using your motorcycle for the primary purpose of business rather than personal use, your insurance policy will not cover you when you’re on the job.
- Tracks Days and Competition: if you intend to ride your motorcycle on the track or in a competition, ask your insurer if the policy covers this particular usage. Some motorcycle insurance policies cover track days, but it isn’t always the case. It’s better to ask first than to assume. Otherwise, purchase temporary coverage so that you and your motorcycle will be financially protected, even if you are on a track.
Florida Motorcycle Insurance Coverage Requirements
Motorcycle insurance policies are not required in the state of Florida. Bikes should be registered with the Department of Motor Vehicles or DMV, but don’t need to provide proof of motorcycle insurance policy as part of the process.
Although motorcycle insurance isn’t required, proof of financial responsibility will be needed if you ever get into an accident. Aside from purchasing an insurance policy for your motorcycle, here are two ways how you can establish your proof of financial responsibility:
- Post a surety bond with a state-licensed company or deposit cash or securities with Florida’s Department of Motor Vehicles and get your Certificate of Financial responsibility from the Bureau of Motorist Compliances.
- Obtain a Self-Insurance Certificate. Doing this will require you to prove that you have the means to cover any costs incurred from the damages due to the accident with your financial resources.
If you only have limited funds to cover any future expenses concerning your motorcycle, it is best to purchase a motorcycle insurance policy. With insurance, you can present your certificate of financial responsibility and get the financial assistance that covers the damages incurred in the accident. It will save you from paying hundreds of thousands of dollars for any unforeseen event in the future.
Should You Buy Motorcycle Insurance as a Florida Resident?
Florida doesn’t necessarily require riders to have motorcycle insurance, but we highly recommend purchasing a policy. Whether or not you have insurance, you will still be financially responsible in the event of an accident. Aside from that, if you travel outside the state, you’ll also need liability coverage since riders must have motorcycle insurance in all other states.
Just like full coverage auto insurance, policies like these do have comprehensive and collision coverage, which are the policies that pay for damages to both you and the other riders involved in the incident. Collision coverage covers the repair cost of your motorcycle if ever you’ve gotten into an accident. If you don’t have collision coverage, you will have to shoulder any expenses incurred for the repairs. On the other hand, comprehensive coverage is in charge of non-accident-related damage such as natural disasters, vandalism, or damage from theft.
There are different types of insurance policies you can get. Liability-only motorcycle insurance is another option for motorists. If you got involved in an accident and it was proved that you are at fault, this policy will cover the damages incurred to other riders. Without liability coverage, you might be running from extensive medical bills, legal fees, and vehicular repairs. The minimum insurance requirement of Florida is 10/20/10 for a four-wheeled vehicle, but a policy with additional coverage limits of 50/100/25 is a recommended purchase.
Although having liability insurance can cover some costs incurred in an accident, getting a full coverage insurance policy is highly recommended because it also pays for your damages and injuries, not just the other parties involved. Many residents in Florida are not insured, so they could cover for damages even if they are not at fault. With that being said, we suggest purchasing a policy that has uninsured motorists coverage that will cover the costs if ever you’re in an accident with someone who doesn’t have insurance. For this reason, purchasing a policy is truly a must. It will help you lessen your fear of covering the cost of any accident that might occur in the future.
If You Cause a Motorcycle Accident, Does Florida Impose Penalties?
In Florida, once you’ve been involved in a motorcycle accident, you may become liable for any damages it caused to other drivers and their vehicles. The repair cost for the damages on your motorcycle will be your sole responsibility. Suppose you don’t have proof of financial responsibility or what we call a liability insurance policy. In that case, you might face more severe repercussions, such as suspension of your driving license and registration.
Motorcycle Insurance isn’t always required in the state of Florida. But, it is necessary for riders who have gotten into an accident. Why? Because once you’ve got involved in an accident and charged with a crash, you’ll need to purchase at least 3-year liability coverage for bodily injury and property damage at the least.
Consult with Warner & Warner
While Florida doesn’t require motor vehicle insurance, it is still recommended for protection. If ever you get involved in a motorcycle accident, Warner & Warner specializes in this practice area.
Our lawyers will be more than happy to fight for your rights. We will provide you with the best representation and win your well-deserved justice. For a free case review, call us at 321-450-7928. Our lawyers will represent you with passion, and integrity.