# Fla. Stat. § 324.032: 324.032 Manner of proving financial responsibility; for-hire passenger transportation vehicles

> Florida · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.032

## Section

- **Citation:** Fla. Stat. § 324.032
- **Heading:** 324.032 Manner of proving financial responsibility; for-hire passenger transportation vehicles
- **Jurisdiction:** Florida
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Florida Code / Title XXIII / Chapter 324 / Section 324.032

## Text

Notwithstanding the provisions of s. 324.031:

(1)(a) A person who is either the owner or a lessee required to maintain insurance under s. 627.733(1)(b) and who operates one or more taxicabs, limousines, jitneys, or any other for-hire passenger transportation vehicles may prove financial responsibility by furnishing satisfactory evidence of holding a motor vehicle liability policy, but with minimum limits of $125,000/250,000/50,000. (b) A person who is either the owner or a lessee required to maintain insurance under s. 324.021(9)(b) and who operates limousines, jitneys, or any other for-hire passenger vehicles, other than taxicabs, may prove financial responsibility by furnishing satisfactory evidence of holding a motor vehicle liability policy as defined in s. 324.031.

(2) An owner or a lessee who is required to maintain insurance under s. 324.021(9)(b) and who operates at least 300 taxicabs, limousines, jitneys, or any other for-hire passenger transportation vehicles may provide financial responsibility by complying with the provisions of s. 324.171, such compliance to be demonstrated by maintaining at its principal place of business an audited financial statement, prepared in accordance with generally accepted accounting principles, and providing to the department a certification issued by a certified public accountant that the applicant’s net worth is at least equal to the requirements of s. 324.171 as determined by the Office of Insurance Regulation of the Financial Services Commission, including claims liabilities in an amount certified as adequate by a Fellow of the Casualty Actuarial Society.

Upon request by the department, the applicant must provide the department at the applicant’s principal place of business in this state access to the applicant’s underlying financial information and financial statements that provide the basis of the certified public accountant’s certification. The applicant shall reimburse the requesting department for all reasonable costs incurred by it in reviewing the supporting information. The maximum amount of self-insurance permissible under this subsection is $300,000 and must be stated on a per-occurrence basis, and the applicant shall maintain adequate excess insurance issued by an authorized or eligible insurer licensed or approved by the Office of Insurance Regulation. All risks self-insured shall remain with the owner or lessee providing it, and the risks are not transferable to any other person, unless a policy complying with subsection (1) is obtained.

History: ss. 2, 3, ch. 95-262; s. 4, ch. 2002-282; s. 364, ch. 2003-261; s. 81, ch. 2003-267; s. 48, ch. 2006-290.

## 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)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_FL_TXXIII_C324_S324.032. Check the current official text before relying on it. Not legal advice.