The State of Florida requires insurance companies who write policies with SR22 or FR44 filings to write only six-month, paid-in-full Auto policies for Florida customers needing SR22 or FR44 filings, that have case numbers beginning with a “2″ or “4.” These policies cannot be cancelled. Florida Auto customers will see the change on their policy at renewal, when they will only be offered a paid-in-full bill plan.
The following rules apply for SR22/FR44 filings with case number beginning with 2 or 4:
- The customer must pay for the policy term in full.
- Insurance companies can’t process a cancellation after the first 30 days of the original effective date of the first policy term.
Specific endorsement rules:
- Insurance companies can process credit or non-premium endorsements at any point in the customer’s policy life cycle.
- Insurance companies can only process additional premium endorsements if effective back to the first inception or if the policy is in “Renewal Work” or “Renewal Quote” status.
- Insurance companies can’t endorse an SR22 or FL FR44 beginning with a 2 or 4 onto the customer’s policy unless the policy is in “Renewal Work” or “Renewal Quote” status. If not, customer’s policy will have to be cancelled and rewritten to comply with the state statute.
- Because the customer needs to pay-in-full and the policy can’t cancel, the customer would need to rewrite to make an additional premium endorsement, then remove the SR22 or FR44 beginning with a 2 or 4 and cancel the policy.
- In addition to these rules, Florida FR44 filings will continue to require higher liability limits (i.e., 100/300/50 or 350CSL (or higher)).