January 18, 2021 Updated 11:55 A.M. ET
TALLAHASSEE (FCV) – According to a recent analysis from Pinnacle Actuarial resources, Florida car insurance policyholders would see a stark increase in their rates if Florida Governor Ron DeSantis (R) signed a new car insurance bill.
HB 1525 and SB 150, filed by Representative Erin Grall (R) and Senator Danny Burgess (R), could raise the rates on Floridians by nearly 50%. Lower income families would be disproportionately impacted by the bills, which could lead to more uninsured drivers due to the cost increase.
Today, over 20% of Florida drivers are believed to be uninsured on the road.
A motorist in Florida with minimum coverage pays about $585 per year for car insurance, on average. If the new bill is passed, which repeals the “no-fault” provision of current Florida insurance law, premiums would rise to approximately $868.
Because of the massive inflation and other countrywide economic hardships and pressures, DeSantis is expected to veto the problematic bills if they are passed by the Republican-controlled legislature.
FCV reported on DeSantis’ initial likely veto of a similar bill in June 2021, where a bill backed by Florida trial lawyers (typically, Democrat supporters) that would likely also increase car insurance rates, was being pushed through.
The bill would have an extensive impact on Florida drivers and many conservative critics of the bill believe that DeSantis signing the bill would taint his reelection campaign and popularity.
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