324.031 Manner of proving financial responsibility.

233 words·~1 min read·/fl/title-xxiii/chapter-324/324-031

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The owner or operator of a taxicab, limousine, jitney, or any other for-hire passenger transportation vehicle may prove financial responsibility by providing satisfactory evidence of holding a motor vehicle liability policy as defined in s. 324.021

(8)or s. 324.151 , which policy is issued by an insurance carrier which is a member of the Florida Insurance Guaranty Association. The operator or owner of any other vehicle may prove his or her financial responsibility by:

(1)Furnishing satisfactory evidence of holding a motor vehicle liability policy as defined in ss. 324.021

(8)and 324.151 ;

(2)Furnishing a certificate of self-insurance showing a deposit of cash in accordance with s. 324.161 ; or

(3)Furnishing a certificate of self-insurance issued by the department in accordance with s. 324.171 .

Any person, including any firm, partnership, association, corporation, or other person, other than a natural person, electing to use the method of proof specified in subsection

(2)shall furnish a certificate of deposit equal to the number of vehicles owned times $30,000, to a maximum of $120,000; in addition, any such person, other than a natural person, shall maintain insurance providing coverage in excess of limits of $10,000/20,000/10,000 or $30,000 combined single limits, and such excess insurance shall provide minimum limits of $125,000/250,000/50,000 or $300,000 combined single limits. These increased limits shall not affect the requirements for proving financial responsibility under s. 324.032 (1).