Rates in Florida could go up to $ 300 per year if you purchase the bare minimum of $ 10,000 for personal injury protection insurance.
Governor Ron DeSantis could sign a bill requiring mandatory bodily injury starting at $ 25,000. This move would mean that your rates could increase by 50% as early as January.
John Gardner, owner of the Lee County Insurance Agency, pointed out that 26% of drivers on the road have minimum personal injury coverage limits. He said those who currently have $ 25,000 injury coverage may not see any increase in their rates.
Gardner is concerned that increased coverage could lead to more fraud.
“It’s possible that $ 25,000 will be allocated for pain and suffering when there may or may not be significant injuries,” Gardner explained.
Accident and injury lawyer Sean King believes lawmakers were trying to make it easier for people involved in serious crashes by repairing their vehicles and paying for the injuries they sustain.
“What about a landscaper with a broken arm?” He is away for weeks and months before returning to work. What will a roofer do with a broken leg? asked the king.
The bill requiring the change is on the governor’s desk. NBC-2 has contacted the governor’s office to find out when or if the governor plans to sign the bill, but we have not heard back.
Pinnacle Actuarial Resources published an analysis explaining how the change could increase rates: