Florida drivers who purchase 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.
At the moment, Florida vehicle insurers have only a 30-day “underwriting period” throughout which they can cancel such policies. But, starting July 1, that period will extend to 60 days.
The new rules were proposed under legislation called SB 490. It applies only to drivers who are purchasing coverage to reinstate their licenses soon after becoming revoked or suspended because of a DUI or failure to keep auto insurance coverage coverage.
“This will allow insurers extra time to properly full underwriting,” according to a legislative analysis of the bill, which was signed into law by Gov. Rick Scott on Friday.
Yet another adjust applied by the bill allows drivers with these policies to change their amounts of bodily injury, property damage and individual injury protection coverage following the underwriting period. Previously, drivers couldn’t modify their coverage amounts on a policy with no canceling their current policy and getting a new one particular.
The bill saw strong help during its route via state Senate and House, exactly where in April it got votes of 38- and 116-, respectively.
Law Offers Fla. Automobile Insurers Far more Time to Cancel Certain Policies
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