How to think about auto insurance in Florida: what to buy and why (2026)

For most Florida drivers, $300K/$300K liability is the right starting point. The math: most carriers price the jump from $100K/$300K to $300K/$300K at $8-18 a month, and the protection difference is real. A serious bodily-injury claim crosses $100K fast.

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How to think about this

Florida’s insurance market is restructuring after the 2022 legislative reforms (SB 2A) eliminated assignment-of-benefits abuse and capped attorney-fee multipliers. Carriers that had exited or were on the brink of insolvency are starting to write new business again, but home rates remain among the highest in the country.

The threshold to think harder is $500K in assets. Past that point, $300K/$300K plus a $1M umbrella is the standard package; the umbrella runs $150-300 a year and requires you to first carry $250K/$500K underlying. Below $500K in assets, $300K/$300K alone is plenty.

Florida-specific things to know

• PIP (no-fault) auto insurance is required by Florida statute; $10K minimum medical coverage.
• Citizens Property Insurance is the state-run insurer of last resort; ~1.2M policies as of late 2024.
• SB 2A (2022) eliminated AOB abuse, capped contingency-fee multipliers, and required a one-way attorney-fee statute repeal.

When the recommendation changes

• Below $50K in assets: minimum required limits are fine.

• $500K-$2M in assets: $300K/$300K + $1M umbrella.

• Above $2M in assets: talk to a high-net-worth broker about $2M-$5M umbrella.

Florida auto carrier baselines (reference)

Methodology: /methodology/rate-authority/

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