Although Florida doesn't require it, your lender or landlord may require you to have collision coverage to pay for the repair or replacement of your vehicle after collisions with other vehicles or objects while driving. Collision insurance will normally pay up to the actual cash value of your vehicle, minus any deductibles. Collision coverage and comprehensive coverage are not mandatory in Florida. However, if you don't have them, you could have to pay a big bill out of pocket if your car gets damaged.
There are a lot of uninsured drivers in Florida. If one of them damages your vehicle, you'll have to pay for the damage. One of the main differences between comprehensive and collision coverage in Florida is that, if you have collision coverage, it will step in and pay for your repairs. That way, you won't have to pay out of pocket.
Some examples of situations in which collision coverage would take effect would be damage to your vehicle caused by hitting a tree, hitting a sidewalk or pothole, hitting another car in a parking lot, or, most commonly, being hit or hit by another car in a car accident. If you make your car payments through a loan or financing agreement, you'll likely need collision coverage and comprehensive coverage in order to get the loan. Collision insurance covers repairs to your vehicle when you hit another car and when another car hits you. Unlike PIP and PDL coverages, under Florida law, Florida motorists are not required to have collision insurance as part of their auto insurance policy.
You have to read the fine print of your policy to see what your collision insurance coverage actually covers. If you have collision coverage, you'll know that you'll only have to pay the deductible to repair your car or to get money to buy a new car. This collision could involve another car or even if the car crashes into a mailbox or tree, for example. To meet Florida's minimum insurance requirements, drivers in the state must purchase PIP coverage and property damage liability insurance.
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