# Fla. Stat. § 324.031: 324.031 Manner of proving financial responsibility

> Florida · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.031

## Section

- **Citation:** Fla. Stat. § 324.031
- **Heading:** 324.031 Manner of proving financial responsibility
- **Jurisdiction:** Florida
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Florida Code / Title XXIII / Chapter 324 / Section 324.031

## Text

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).

History: s. 1, ch. 29963, 1955; ss. 13, 35, ch. 69-106; s. 3, ch. 85-320; s. 12, ch. 87-225; s. 1, ch. 92-29; s. 89, ch. 94-306; s. 945, ch. 95-148; s. 3, ch. 2002-282; s. 67, ch. 2013-160.

## Nearby sections

- [Fla. Stat. § 324.011 324.011 Purpose of chapter.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.011.md)
- [Fla. Stat. § 324.021 324.021 Definitions; minimum insurance required.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.021.md)
- [Fla. Stat. § 324.022 324.022 Financial responsibility for property damage.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.022.md)
- [Fla. Stat. § 324.023 324.023 Financial responsibility for bodily injury or death.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.023.md)
- [Fla. Stat. § 324.031 324.031 Manner of proving financial responsibility.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.031.md)
- [Fla. Stat. § 324.032 324.032 Manner of proving financial responsibility; for-hire passenger transportation vehicles.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.032.md)
- [Fla. Stat. § 324.042 324.042 Administration.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.042.md)
- [Fla. Stat. § 324.051 324.051 Reports of crashes; suspensions of licenses and registrations.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.051.md)
- [Fla. Stat. § 324.061 324.061 Security deposited with Department of Highway Safety and Motor Vehicles; release.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.061.md)
- [Fla. Stat. § 324.071 324.071 Reinstatement; renewal of license; reinstatement fee.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.071.md)
- [Fla. Stat. § 324.072 324.072 Proof required upon certain convictions.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.072.md)
- [Fla. Stat. § 324.081 324.081 Nonresident owner or operator.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.081.md)
- [Fla. Stat. § 324.091 324.091 Notice to department; notice to insurer.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.091.md)
- [Fla. Stat. § 324.101 324.101 Compliance before license or registration allowed.](https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.101.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.031. Check the current official text before relying on it. Not legal advice.