State lawmakers want to repeal no-fault insurance

How would you like to pay less for car insurance? State leaders could change the rules of the road and put more money back in your pocket by wiping out an outdated law.

It’s a sinking feeling when you get into a crash.

“I have unfortunately,” Jeff Sannes said.

Sannes got hit but didn’t have a hefty insurance policy.

“They don’t have insurance and you getting a collision with them you’re liable for them not having insurance,” Sannes said.

Sannes isn’t alone. Insurance costs in Florida skyrocketed to third highest in the nation, according to a new study.

But experts said it’s because of a decades old program called no-fault insurance or PIP.

“PIP coverage is required by every Florida policyholder and provides for $10,000 in coverage for treatment of medical expenses and lost wages,” said Andrea Smith, a personal injury attorney.”

Lawmakers critical of the policy want to repeal it.

“It’s really not no-fault insurance,” said Bruce Schenner, a personal injury attorney. “Now, $10,000 is meaningful when the law was instituted back in 1972, but the amount has not increased since 1972.”

Some say insurance won’t cover you when you need it most.

“If you treat at the hospital, the majority of your PIP is already used up by the time you go to someone like a chiropractor a therapist,” Smith said.

So, what if Florida joins the majority of states and throws out no fault?

“Ultimately, the rates would be reduced,” Smith said. “You’re holding people who were at fault for crashes responsible for the crash.”

It would likely be replaced with a program Florida doesn’t require you to have right now.

“$25,000 a mandatory bodily injury coverage,” Smith said. “You have a larger amount available to persons who are injured at no fault of their own.”

Any legislation would need to pass through the Florida House and Senate. A 60-day session start in early March.

Sannes said he could get behind that.

“I would be all for it absolutely,” Sannes said.