This bill proposes comprehensive reforms to Florida's motor vehicle insurance laws, primarily by repealing the Florida Motor Vehicle No-Fault Law, which includes sections related to personal injury protection (PIP) and other insurance requirements. The bill amends various sections of Florida Statutes to revise insurance coverage requirements for motor vehicle registration and liability coverage, introducing new definitions such as "garage liability insurance" and updating minimum coverage requirements. Notably, it establishes new liability limits for bodily injury and property damage, mandating coverage of at least $25,000 for bodily injury to one person, $50,000 for multiple persons, and $10,000 for property damage, effective January 1, 2027. The bill also clarifies that proof of insurance must include bodily injury and property damage liability coverage, replacing the previous PIP requirement.

Additionally, the bill enhances the regulatory framework surrounding motor vehicle insurance by outlining the responsibilities of insurers, including the requirement to notify policyholders of changes in coverage and the consequences of failing to maintain required insurance. It introduces stricter penalties for insurance fraud and modifies the criteria for qualifying as a self-insurer, increasing the required net worth for individuals and entities. The bill also addresses insurance requirements for shared vehicles and peer-to-peer car-sharing programs, ensuring that liability coverage is primary during car-sharing periods. Overall, the bill aims to streamline and clarify Florida's motor vehicle insurance regulations while enhancing consumer protection and accountability within the insurance market.

Statutes affected:
S 522 Filed: 627.7407, 316.2122, 316.646, 318.18, 320.0609, 320.27, 320.771, 322.34, 324.011, 324.022, 324.023, 324.031, 324.032, 324.051, 324.071, 324.091, 324.151, 324.161, 324.251, 400.9905, 400.991, 400.9935, 409.901, 409.910, 456.057, 626.989, 627.06501, 627.0652, 627.4132, 627.4137, 627.7263, 627.7275, 627.728, 627.7415, 627.749, 627.8405, 627.915