No. HB 769
Filed under Insurance.
Motor Vehicle Insurance; Repeals provisions relating to application of Florida Motor Vehicle No-Fault Law; revises motor vehicle insurance coverages that applicant must show to register certain vehicles with DHSMV; revises garage liability insurance requirements for motor vehicle dealer license applicants; revises financial responsibility requirements for owners or lessees of for-hire passenger transportation vehicles; revises requirements for certificate of deposit that is required if person elects certain method of proving financial responsibility; revises minimum net worth requirements to qualify certain persons as self-insurers; revises coverages that must provide premium charge reduction; revises coverages that are subject to premium discounts for specified motor vehicle equipment; revises coverages that are subject to stacking prohibition; revises coverages of motor vehicle insurance policy for which licensed general lines agent may charge specified fee; revises additional liability insurance requirements for commercial motor vehicles; revises insurance requirements for transportation network company drivers; revises coverages in policy sold in combination with accidental death & dismemberment policy which premium finance company may not finance. APPROPRIATION: $83,651
Plain English Summary
AI-GENERATEDRepeals Florida's decades-old no-fault insurance law and requires nearly every driver to carry bodily injury liability coverage for the first time, starting January 1, 2027, alongside the existing property damage requirement.
Personal injury protection disappears from new and renewed policies after that date, though policies already in force keep running under the old rules until they are renewed, nonrenewed, or canceled.
Minimum insurance amounts rise across the board: self-insurer net worth requirements double, certificate-of-deposit amounts double, dealer garage liability insurance jumps to $60,000, and for-hire vehicles get new dedicated coverage minimums.
Uninsured motorist coverage now pays for pain, suffering and disfigurement without meeting the old injury-severity threshold, and clinic-licensing and insurance-fraud statutes pivot from no-fault billing to medical payments coverage billing.
AIBeginning January 1, 2027, insurers may no longer write or renew any policy that includes personal injury protection, ending the no-fault coverage every Florida driver has been required to carry.
AIEvery owner or operator of a registered motor vehicle must maintain bodily injury liability coverage of $25,000 per person and $50,000 per crash, plus the existing $10,000 property damage coverage, a mandatory coverage type Florida has not required on a general basis before.
AIUninsured motorist coverage must now pay for pain, suffering, disfigurement, and lost capacity for enjoyment of life without requiring the claimant's injury to meet the permanent-injury threshold the repealed no-fault law used to require.
AIA private individual self-insuring passenger vehicles must show net worth of at least $100,000, up from $40,000; commercial self-insurers see a comparable increase for the first and each additional vehicle.
AIA person proving financial responsibility by certificate of deposit must post $60,000 per vehicle instead of $30,000, up to a new $240,000 cap instead of the old $120,000 cap.
AIMotor vehicle dealers applying for licensure must carry $60,000 in combined single-limit garage liability coverage, formally defined for the first time, replacing the old $25,000 liability plus $10,000 no-fault combination.
AITaxicabs, limousines, jitneys, and other for-hire passenger vehicles get a dedicated financial-responsibility statute requiring $125,000/$250,000 bodily injury coverage and $50,000 property damage coverage, replacing scattered cross-references to the repealed no-fault law.
AIWhen an insurer fails to disclose known policy information to a claimant within 30 days as required, the claimant can sue to enforce the disclosure duty and recover attorney fees and costs from the insurer.