Florida drivers who acquire coverage to get their driving privileges back following a DUI or lapse in coverage will soon face a longer period when their insurer can cancel the policy.
Currently, Florida car insurers have only a 30-day “underwriting period” in the course of which they can cancel such policies. But, starting July 1, that period will extend to 60 days.
The new rules had been proposed beneath legislation called SB 490. It applies only to drivers who are purchasing coverage to reinstate their licenses right after becoming revoked or suspended simply because of a DUI or failure to preserve automobile insurance coverage.
“This will allow insurers further time to appropriately complete underwriting,” according to a legislative evaluation of the bill, which was signed into law by Gov. Rick Scott on Friday.
An additional alter applied by the bill allows drivers with these policies to alter their amounts of bodily injury, house damage and personal injury protection coverage right after the underwriting period. Previously, drivers couldn’t adjust their coverage amounts on a policy without having canceling their present policy and obtaining a new one particular.
The bill saw strong assistance in the course of its route by way of state Senate and Home, exactly where in April it got votes of 38- and 116-, respectively.
Law Provides Fla. Automobile Insurers Far more Time to Cancel Certain Policies
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