Florida no fault insurance is basically just another term for the personal injury protection (PIP) that is required by law. PIP pays for bodily injuries received in a car accident no matter which driver was at fault, it does not pay for property damage.
The PIP law expired as of October 1, 2007 however a new no-fault law was signed into law October 11, 2007 which reinstates PIP. This new no-fault law to reinstate PIP will take effect January 1, 2008.
The insurance regulator for Florida notes, if you are injured by an automobile, PIP covers you up to the limits of the policy, regardless of fault.
It is property damage liability (PDL) that pays for damage (up to the limit of the policy) that you or anyone covered under your policy cause to another person’s property through the use of a covered automobile. It only covers damage for which you or anyone insured under your policy are legally liable.
Florida is a comparative negligence state. This means that the fault of the accident may be divided between the involved parties and the insurance companies will pay the claim according to the percentage of fault for each driver.
So if there is an accident where drivers are unable to decided among themselves who was at fault the insurance companies involved will investigate and determine fault and see if there is a percentage of fault that lies on each driver. If they find that each driver is 50 percent at fault it may be that each driver would be responsible for their own damages.
If you are in an accident, without collision coverage, and the other party's insurance company does not find their policyholder liable for the damages your vehicle sustained you would have to pay out of pocket for to get your car repaired.
Whether you should place collision and comprehensive coverages on your 1997 vehicle is a personal choice. We would recommend finding out the current value of your car and determining if the cost of physical damages (collision and comprehensive) and the deductible that would be due if you have to use these coverages are worth it in your opinion and financial situation.
For Florida car insurance quotes for the state required insurance coverages or those plus collision and comprehensive click here.