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I think it is going to help..
Next up: Michigan.
Hmmm....after reading the article is looks like the proposed change is to 25/50 bodily injury?
Wat da?
Isn't that WORSE than the original Law? (talk about corruption)
nope. this is a good thing..... keep in mind, you're talking about two different things here:
repealing the 10K PIP mandate refers to medical coverage.
the new law will requiring 25/50 in bodily injury refers to liability coverage. Something that should have been done a LONG time ago!
contrary to popular belief, Florida is one of only two states that don't have liability requirements (New Hampshire the other).
Most people think that Florida's state minimum liability requirement is 10/20/10.... but that is NOT TRUE! They believe that because almost all auto insurance companies require it anyways.... but technically, there are no state minimum liability laws on the books.
So...what you are saying is that there will MORE LAWSUITS filed because of this law....CORRECT???
probably so, depending on how they write the new laws...
that is the downside of it. but there's a trade-off..... more lawsuits but much less fraud (both hard and soft fraud) and more competition.
hard fraud: harder to stage accidents when fault gets pinned on someone. and Florida has an incredibly high rate of staged accidents.
soft fraud: doctors can't get away with as much milking the system in tort states as they do in no-fault states.
more competition because many auto carriers avoid no-fault states.
it's not a perfect system, but it's the lesser of two evils..... as an example, Colorado was once no-fault, and then did away with it in 2004.... things have been better ever since.
I see...so you are saying that the proposed rule would make Florida an "at-fault" state???