Normally you can negotiate with the insurance company to pay off the damages in smaller monthly payments. You should get a document showing proof of your agreement and payments for your records.
The insurance company may report your case to the Florida Department Highway Safety and Motor Vehicle (HSMV) and the FL Bureau of Financial Responsibility since you did not have the minimum insurance required, and you may now be required to have an SR-22 form to renew your insurance.
You should get at least the minimum insurance required so that you can avoid this situation in the future. You can start by requesting a quote from CarInsurance.com.
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