Florida Statutes 627.06535 – Electric vehicles; restrictions on imposing surcharges
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 627.06535
- Motor vehicle insurance: means a policy of motor vehicle insurance delivered or issued for delivery in the state by an authorized insurer:(a) Insuring a natural person as the named insured or one or more related individuals resident of the same household, or both; and(b) Insuring a motor vehicle of the private passenger type or station wagon type, which motor vehicle is not used as public or livery conveyance for passengers or rented to others, or insuring any other four-wheeled motor vehicle having a capacity of 1,500 pounds or less which is not used in the occupation, profession, or business of the insured, other than farming;
other than any policy issued under an automobile insurance risk apportionment plan or other than any policy covering garage, automobile sales agency, repair shop, service station, or public parking place operation hazards. See Florida Statutes 627.041
- Premium: means the consideration paid or to be paid to an insurer for the issuance and delivery of any binder or policy of insurance. See Florida Statutes 627.041
An insurer may not impose a surcharge on the premium for motor vehicle insurance written on an electric vehicle, as defined in s. 320.01, if the surcharge is based on a factor such as new technology, passenger payload, weight-to-horsepower ratio, or types of materials, including composite materials or aluminum, used to manufacture the vehicle, unless the office determines from actuarial data submitted to it that the surcharge is justified.