Why is Florida FR44 Insurance So Expensive?

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Here’s what you need to know about the cost of FR44 insurance.

If you have been convicted of a DUI, then you will need to submit an FR44 filing with the state and secure specialty Florida FR44 insurance.  Both the filing and the insurance will cost you money, far surpassing what you paid for auto coverage before your conviction.  Here’s what you need to know about the cost of FR44 coverage.

To secure FR44 insurance, you first need to submit an FR44 filing to the state.  This filing includes a $15 fee that will likely be included in your premium payments.  Aside from this filing fee, FR44 insurance costs significantly more than standard auto coverages.  There are several reasons for this premium increase.  For starters, securing FR44 insurance is meant to be a punishment.  Charging such high rates is meant to dissuade drivers from ever drinking and driving again.

FR44 insurance is also more expensive than standard car coverages because it offers higher liability coverage limits.  When you drive while under the influence, you have proven yourself as a danger to the public.  To protect those around you, you are required to carry at least $100, 000 of bodily injury liability coverage per person ($300,000 per accident) and $50,000 of property damage liability coverage per accident.  Naturally, higher coverage limits lead to higher premium costs.

On average, standard auto policies cost Florida drivers about $1,830 annually.  In comparison, the average FR44 policy will cost a driver $3,675 per year, more than double the average standard rate.  Fortunately, there are ways to save on your FR44 policy.  For instance, you should compare rates to ensure that you are getting the best deal possible.  You should also ask your insurer about possible discounts or other saving opportunities.  For instance, some insurers will offer discounts for drivers who enroll in defensive driving courses.

This is what you need to know about the cost associated with Florida FR44 insurance.  Do you have additional questions regarding this specialty form of auto coverage?  If so, then contact the experts at Staybull Insurance.  We are ready to assist you with all your car coverage needs today.

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