Is carrying only state-minimum liability car insurance a good idea in Florida?

I'm a frugal person, only buying used cars with cash and then carrying the minimum amount of coverage possible. Should I purchase the minimum amount of insurance possible, or do I need better coverage?

Apr 22, 2021
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Eric Schad
Answered at Apr 22, 2021
“Florida is a no-fault car insurance state, meaning that your insurance pays for your own medical bills, regardless of who caused the crash. Currently, the state minimum for car insurance coverage is $10,000 in personal injury protection to pay for your medical bills and $10,000 in property damage liability to cover property damage to the other person.
While this type of coverage is undoubtedly cheap, it’s far too low in most cases. Medical bills and car damage can get very expensive, and with this type of coverage, you’d probably have to pay out of pocket—or worse, you might get sued by the other driver for damages.
As a general rule, you should:
  • Increase your personal injury protection to $100,000 or more to cover your bills.
  • Get $50,000 to $100,000 in property damage liability.
  • Add uninsured motorist coverage (even though it’s not required by law) at $100,000 per person and $200,000 per accident.
This may seem like overkill, but in a major accident, you’ll be glad you have it. Make sure to shop for car insurance quotes online to get the best rate.”
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