Final 12 months, Gov. Ron DeSantis took motion to guard Florida drivers from substantial auto insurance coverage price will increase by vetoing laws that might have repealed Florida’s no-fault auto insurance coverage system with out implementing wanted authorized reforms.

Floridians are grateful for the management he confirmed on this subject, his dedication to face up for the most effective pursuits of our state’s drivers, and his efforts to guard their hard-earned cash.

Nonetheless, this session, considerably comparable laws is once more being thought of within the Florida Home and Senate. As soon as once more, these payments might end in vital will increase in auto insurance coverage prices, particularly for many who can least afford it.

An unbiased evaluation carried out by Pinnacle Assets of Senate Invoice 150 and Home Invoice 1525 discovered that the proposals might trigger auto insurance coverage prices to skyrocket between 48% and 77% for drivers who buy minimal limits. In Florida, that’s roughly 40% of drivers.

Moreover, for Floridians at the moment carrying full protection auto insurance coverage, the laws into account this 12 months might enhance the price of the common auto insurance coverage coverage by as a lot as 13.3 %.

Floridians already pay a few of the highest auto insurance coverage prices within the nation and are at the moment dealing with price will increase for a lot of items and companies as inflation continues to affect our nation’s economic system. If the price of auto insurance coverage is pushed even larger, particularly for many who are low-income, protection might develop into unaffordable.

This might result in extra drivers going uninsured, making Florida’s roads much less protected for everybody. That is particularly regarding since Florida has one of many highest charges of uninsured motorists within the nation at roughly 20%.

Any reform of Florida’s auto insurance coverage system ought to prioritize decreasing prices for shoppers by addressing rampant authorized abuse of Florida’s unhealthy religion legal guidelines – a significant price driver that negatively impacts shoppers.

Like final 12 months’s invoice, SB 150 doesn’t include any significant reforms to Florida’s unhealthy religion legal guidelines. As a substitute, the laws would supply extra alternatives for lawsuit abuse by implementing many new ambiguous requirements, processes, and definitions – all of which could possibly be exploited by plaintiffs’ attorneys.

Repealing Florida’s no fault auto insurance coverage system with out significant unhealthy religion reforms might result in larger prices for shoppers and worsen our state’s authorized setting.

Florida GOP lawmakers keen to satisfy Gov. Ron DeSantis’ coverage calls for.

Gov. DeSantis additionally has proven exemplary management in bettering Florida’s authorized setting together with his current alternatives to the Florida Supreme Court docket.

We’re inspired by the affect it could have towards addressing long-standing issues with unhealthy religion, rampant lawsuit abuse, and fraud in Florida’s auto insurance coverage system, whereas making certain policyholders’ rights stay protected

Any try and repeal or reform Florida’s auto insurance coverage system ought to deal with decreasing client prices, stopping fraud and lawsuit abuse, and making certain policyholder rights are protected. Sadly, SB 150 and HB 1525 don’t obtain these targets.

With inflation already placing monetary pressure on people, households, and companies, now isn’t the time to implement main coverage adjustments that might enhance prices even additional for hardworking Floridians.

We respectfully ask the Legislature to place the brakes on larger auto insurance coverage prices and vote no on SB 150 and HB 1525.

Logan McFaddin

Logan McFaddin

Logan McFaddin is assistant vp of state authorities relations for the American Property Casualty Insurance coverage Affiliation, the first nationwide commerce affiliation for house, auto, and enterprise insurers.


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This text initially appeared on Tallahassee Democrat: No-fault repeal laws might considerably enhance auto insurance coverage for Florida drivers | Opinion

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