Section 15A-3.014 - Security Deposited with the Department of Highway Safety and Motor VehiclesSecurity deposited pursuant to the provisions of Section 324.051(2)(a)4., F.S., with respect to claims for injuries to persons or properties resulting from an accident occurring prior to such deposit, shall be in the form and amount determined by the Department which, in its judgment, will be sufficient to compensate for all injuries arising out of such accident, but in no case shall the amount be greater than the limits as specified in Section 324.021(7), F.S.
(1) Security required to be deposited based on properties damaged as a result of a motor vehicle accident is based upon the estimate of damage made by the investigating officer at the time of the accident. This amount is adjustable upon receipt of documentary evidence furnished the Department to indicate a greater or lesser amount of property damage. Such evidence may be in the form of estimates of repair from body repair shops, loss reports, or subrogation reports from fire and casualty insurance companies.(2) Security required to be deposited based on bodily injury to persons are based upon insurance actuarial amounts. (a) Fatalities, either at the time of the accident upon arrival of the investigating officer, or within a twelve month period as a result of the accident: $10,000 per person per accident.(b) Incapacitating injury, visible signs of injury as bleeding wounds, distorted bodily members, or had to be carried from the scene of the accident: $1,000 per person per accident.(c) Nonincapacitating injury indicated by visible signs of injury such as bruises, abrasions, swelling, or limping: $300 per person per accident.(d) Possible injury, no visible sign of injury, but complaint of pain or momentary unconsciousness: $100 per person per accident.(3) Security deposit amount required-reduction thereof. The Department shall have the administrative authority to decrease the amount of security required in order to comply with the provisions of Section 324.051(2)(a)4., F.S., based upon evidential proof provided the Department. Evidential proof may be in the form of a returned letter mailed certified, return receipt requested, to the party giving a release pursuant to Section 324.051(2)(a)3., F.S. The letter must be returned to the originator intact and unopened, marked by the United States Postal Service as "No Such Address" or "No Forwarding Address." The security amount for property damage shall not be reduced to less than $250 and bodily injury to persons shall not be reduced to less than $100.Fla. Admin. Code Ann. R. 15A-3.014
Rulemaking Authority 324.042 FS. Law Implemented 324.061 FS.