Florida 2-20 General Lines Agent (Property, Casualty, Commercial Lines and Florida Law)Florida Law and EthicsMedium
A Florida 2-20 General Lines Agent is discussing the Florida Financial Responsibility Law with a client involved in an auto accident. The client was at fault and caused significant bodily injury to another driver. Under the Florida Financial Responsibility Law, what is the minimum bodily injury liability coverage required per person for this type of incident?
- A$20,000
- B$25,000
- C$10,000
- D$50,000
Show answer & explanationAnswer & explanation
Correct answer: C. $10,000
Under the Florida Financial Responsibility Law, the minimum bodily injury liability coverage required is $10,000 per person and $20,000 per accident. The common shorthand is 10/20/10 for bodily injury per person/per accident and property damage per accident.
Why the other options are wrong
- A. This is the minimum bodily injury liability coverage per accident, not per person.
- B. This is not a standard minimum for bodily injury per person under Florida law.
- D. This is not a standard minimum for bodily injury per person under Florida law.
Florida Financial Responsibility Minimums
The Florida Financial Responsibility Law requires minimum auto liability limits of 10/20/10: $10,000 Bodily Injury per person, $20,000 Bodily Injury per accident, and $10,000 Property Damage per accident.
- Mandatory liability coverage.
- 10/20/10 split limits.
- Can be met by insurance, bond, or cash deposit.
Memory trick: Florida's 10/20/10 Rule for Auto