Guarantee Funds - Florida Auto Insurance

The insurance guarantee funds can safeguard the interests of the insured person against insurance companies that are financially weak. The state’s regulatory authority regularly monitors the performance of all the insurance providers within the state and after every year, collects data pertaining to the financial status of the insurance companies.

The guarantee funds pay for the losses incurred by the insurance companies, which are in a financially weak state and fail to pay out insurance claims made by their customers. The amount that is paid is based on the individual policy limit or the state defined limit, whichever is closer towards the claims.

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