Your agent was likely speaking of the time period between October 1, 2007 and January 1, 2008 when Florida was a tort state instead of being a no-fault state as it normally is. The law requiring FL drivers to carry PIP sunset as of Oct 1, 2007 however legislation was signed soon afterwards to put it back in place as of Jan 1, 2008.

During this time period if you hit a vehicle and injured a person and they did not have personal injury protection (PIP) and you did not carry bodily injury to cover their injuries then you could have been personally sued for the cost of their injuries, pain and suffering, etc.

Other Florida laws have been in place that allow a driver to sue another driver if their property damages expenses go above a person's property damage liability limits or if a person’s injuries were severe and their own PIP limits are exceeded and your bodily injury limits are also exceeded (or if you did not carry this coverage).

It has always been advised for drivers to carry as much insurance as they can afford to protect your own assets such as your home, bank account, etc. If you select limits that are too low, you could be putting yourself at risk financially.

For example, if either you or a driver covered by your policy cause a serious accident where damages exceed your limits, you will be held responsible for the amount above your limits. To make that payment, you could be forced to liquidate property, savings and other assets, or your future earnings could be attached. By purchasing liability limits to account for both your current assets and future net worth, you can help protect yourself against this risk.

Your agent can give you information on Florida statutes that he is referring to and you can research that on the FL Senate site. If you want more information or an explanation of insurance laws in Florida you can contact the FL state insurance regulator.