If you need a vehicle to do your job, whether you're a truck driver or even a real estate agent, you probably need commercial auto insurance. The most common reasons why auto insurance isn't renewed vary by state and insurer and include multiple accidents and too many insurance claims. Once a driver is convicted of driving under the influence of drugs or alcohol, it is considered to be high-risk. Some insurers may choose to remove a customer after receiving a DUI.
Learn about insurance after a DUI. After an auto insurance company cancels a policy, it must notify the state's department of motor vehicles. If you cause a car accident while driving without insurance, you might have to pay out of pocket for other people's medical bills and car repairs. Your car insurance company must give you 10 days' notice of the cancellation by mail or email.
Over the past six years, auto insurance rates in Florida have steadily increased according to the MoneyGeek ranking, which went from being the 43rd most affordable state in terms of coverage to 46th. Commercial auto insurance can cover both your own and rented, leased or rented vehicles, and you can also take out commercial auto insurance for any work team, employee or passenger that is inside the vehicle, or even protection for your company in the event of a lawsuit. Withholding any commercial use from your personal auto insurance provider constitutes insurance fraud and is one of the many reasons why insurance companies increase premiums overall. As a business owner, you've heard of (or currently have) a variety of different types of commercial insurance, from workers' compensation insurance to EPLI insurance.
Like your personal auto insurance policy, commercial auto insurance provides protection for any vehicle designated for business use. Auto insurance companies in all states must participate in the risk fund allocated by the state by hiring a certain number of drivers, depending on the amount of the insurer's business in the state. While it's not part of the state's minimum insurance requirements, buying insurance for uninsured drivers is recommended. Your car insurance company must give you 10 days notice if you don't pay your premium, 30 days if there's a substantial change in risk, and 15 days for any other reason.
Your car insurance company must give you 30 days' notice of cancellations for any reason other than non-payment of the premium. Auto insurance companies can legally cancel a customer if it becomes riskier to insure them than when they first purchased their policy. The average cost of car insurance has increased across the country, and auto insurance rates in Florida follow the same pattern. Your car insurance company must give you 15 to 30 days notice of the cancellation for non-payment, or 10 days if you paid a portion of the premiums.
Florida is in sixth place among the states with the highest rate of uninsured drivers, which means that the likelihood of being involved in an accident with someone who does not have insurance is higher than in other states.