Can I get Car Insurance with a Foreign Drivers License?
There are thousands of people moving to Florida every day. Many move here from other countries.
Can they get Car Insurance with a Foreign or International drivers license?
First the good news: Yes, you can buy Auto Insurance with a Foreign Driver's license. The bad news? It will cost more money. Why? Most car insurance companies today rate their policies using a combination of Prior Insurance, Driving Record and Credit Scoring. Odds are, many Foreign drivers have a good driving history and excellent credit in their home countries. The problem being, in Florida, the US Insurance Carriers can't verify this.
Here's how the typical Insurance company develops the premium for car insurance:
First, they check whether the driver has any prior insurance, or filed any tickets or accidents in the last 5 years. They retrieve this by running an MVR and CLUE report that US Carriers report on all paid claims. Unfortunately, Foreign Carriers do not report claims to CLUE or retrieve MVRs. So what they do is they rate the driver with a Unverified Driving Record, which acts like a minor traffic ticket when rating the car.
Second, the companies can't access the Credit Scores of Foreign drivers through the standard US credit reporting agencies. Each one of these uncertainties leads to an increase in the price of car insurance for the Foreign Drivers License. So a policy that would cost a US driver $1000 might cost a Foreign Driver $2000 or more. In most cases it's worth it to the International Driver for the freedom of driving their own car in Florida.