Yes, a certain minimum of liabilty insurance is required by law in Florida.
If you and your husband have very good (not necessarily perfect) driving records, somebody is making a killing off you at $300.00 per month. My wife and I have full coverage on both cars (and mine is an almost-new VW Passat) and we pay about $950.00 per YEAR.
Please do yourselves a favor and go to insweb.com and put in all of your auto information and coverage you presently have. Within a day or two you will receive price quotes from 3 or 4 reputable insurance companies. Select the best one and they will ask you to call their local rep for a phone interview, who will ask you more detailed questions.
If you like them and they like you, you could save 40% or more on your car insurance by making a change. A few years ago, Allstate was charging us $1800.00/yr for the same coverage we're getting from The Hartford for almost half that (and I was driving a 1987 piece-of-crap Honda under Allstate, not the new Passat)
Is it any wonder that so many people despise insurance companies ??