Legislative Update – Auto Insurance Tampa
According to the Tampa Bay Times, two new proposals regarding auto insurance Tampa and for all Floridians are gaining momentum in the Florida Legislature. Under HB 1063, customers who already pay for bodily injury coverage would see an average rate decrease of $81 per year.
The costs for those who only carry the state mandated minimum coverage would see an average annual increase of $250 per year. In Tampa (and Hillsborough County), the average increase would rise to $308 for those who only carry the minimum coverage. The rates would vary depending on a county’s traffic density, percentage of uninsured drivers, and accident rates.
According to the article from the Times, the House bill has already cleared its first hearing and the Senate bill (SB 1768) will be considered during a Banking and Insurance Committee hearing Monday.
Under both bills, Florida would require that all drivers carry enough bodily injury coverage to pay $25,000 of injuries to another person, and $50,000 of injuries to two or more people. Currently, more than 90 percent of drivers already have this coverage.
There are several interesting arguments favoring both sides. You can check out the rest of the article here: Tampa Bay Times Article.
When in doubt, give Omega Insurance Agency a call today to make sure you are adequately covered at the best available price.
Contact us today at 813-341-1530 or Toll Free at 888-663-5088