CS for SB 150 - Motor Vehicle Insurance

• Repeals Florida's Motor Vehicle No-Fault Law (personal injury protection insurance requirements) effective January 1, 2019, replacing it with a medical payments coverage requirement of at least $5,000 per person with a $5,000 death benefit.

• Increases minimum liability insurance requirements in three phases: $20,000/$40,000/$10,000 (2019-2020), $25,000/$50,000/$10,000 (2021-2022), and $30,000/$60,000/$10,000 (2023 and beyond) for bodily injury and property damage liability.

• Establishes medical payments coverage as mandatory in all motor vehicle liability insurance policies used as proof of financial responsibility, covering emergency services, hospital care, and physician/dental services received within 14 days of a crash.

• Sets payment limitations for medical services based on Medicare and workers' compensation fee schedules, prohibits deductibles on medical payments coverage, and authorizes insurers to pursue fraud cases against those convicted of insurance fraud related to medical payments claims.

• Increases garage liability insurance requirements for motor vehicle and recreational vehicle dealers in three phases through 2023, and imposes phased increases on commercial motor vehicle insurance requirements and self-insurer net worth standards.