Florida Motorcycle Insurance Requirements

You may have automobile insurance for your vehicle, but you may not know that insurance requirements are different for your motorcycle. Florida is a “no-fault” state, so you must purchase a no-fault insurance policy to drive a vehicle. This is also known as “Personal Injury Protection” insurance. In contrast, the law does not require that you have no-fault insurance for your motorcycle.

Requirement

Although the no-fault laws do not apply to motorcycles, the Financial Responsibility law does apply to you as a motorcycle owner. This law addresses the injuries that may occur during traffic accidents, and it applies equally to motor vehicles and motorcycles.

The laws limit when a person who is injured in a motor vehicle accident can sue another driver for pain and suffering. In order to do this, the victim must be able to demonstrate that a permanent injury resulted from the accident that was caused by another. Then, he or she can recover damages for pain and suffering. A motorcycle rider, on the other hand, is not limited by this restriction. He or she can sue the negligent driver and receive compensation for pain and suffering even without being permanently injured.

We believe that the best thing for motorcycle riders to do is obtain motorcycle insurance, but this is not your only option. You can also go to the Bureau of Financial Responsibility and obtain a self-insurance certificate. This will be based on your net worth.

The Self-Insurance Certificate

In order to obtain a self-insurance certificate, you will need to present a copy of your financial statement. This will need to be notarized and show a balance of at least $40,000. Your motorcycle will need to be appraised, and you will have to present a copy of the appraisal to government officials. You must offer a list of all of your banking institutions that hold your assets and liabilities and provide the office with your driver license and social security number.

You do have the above option, but we suggest that you find a licensed insurance agent who will inform you about your insurance options. These options will include the following:

• Bodily injury liability for one person in the amount of $10,000
• Bodily injury liability for two or more people in the amount of $20,000
• Property damage liability in the amount of $10,000 per crash

We also advise motorcycle riders to purchase uninsured motorist coverage and underinsured motorist coverage because many people who are in control of automobiles on Florida’s roads are currently uninsured. If an uninsured driver were to hit you and cause you to experience serious injuries, you may have no recourse but to pay all of the bills yourself.

We have represented many motorcycle riders who were involved in a crash on Florida’s roads. Unfortunately, these riders did not carry the liability insurance required of them. The failure to purchase this insurance caused them to lose their licenses, registrations and license plates to suspension as well as the need to pay fees to regain their driving privileges.