Unfortunately, people get involved in road accidents thinking they’re completely insured simply have no idea what a full coverage implies. We will try to clear the air on car insurance in Florida that’ll go a long way in helping individuals inconvenienced by car collisions to gain a better understanding of what such coverage includes.
When you opt for vehicle insurance, you’re entitled to receive six distinct kinds of coverage namely UM, PIP, BI, Med Pay, Collision, and Property Damage. So, when a client claims that he is totally covered, he implies that he is insured under all the above categories and at maximum possible liability limits.
Which type of coverage out of the six matters the most?
Since Florida is teeming with car owners who’ve not insured their vehicles, opting for Uninsured Motorists (called UIM or UM) coverage is a must. If you ever get unwittingly involved in a crash or collision that occurs because of the other driver and the latter isn’t sufficiently covered or insured at all, it is your UIM that’ll come to your rescue. Regardless of the seriousness of your personal injury it is the Uninsured Motorists Benefits that’ll sustain you, especially if the errant motorist was not covered for the crash.
Surprisingly enough, choosing UIM is optional in Florida, and therefore the car insurance salesman might tell you to opt out of the same in order to keep your premium low. However common sense dictates that you should cover yourself first before you insure the other driver. The bottomline: never ever waive UM.
Personal Injury Protection
PIP or ‘personal injury protection’ is almost synonymous with vehicle insurance and going for the latter means you’re automatically choosing the former. Irrespective of who caused the accident, PIP will help reimburse medical bills up to a maximum of $10,000. One vital aspect that you’d need to keep in your mind regarding PIP is that you’d have to treat your injuries within a prescribed period following the crash. If you don’t meet the deadline, you might be ineligible for using PIP benefits for claiming reimbursements on your medical expenses.
Coverage for medical payments that complements PIP is again discretionary like UM. Though having MP coverage is not as essential as UM, going for the former will stand you in good stead if you’re gravely injured since PIP will refund up to the extent of 80% of your hospitalization and medicinal expenses. The good thing about selecting medical payments insurance is that the same will not enhance your premiums considerably.
In case the car accident happens because of you, it is your BI (bodily injury insurance) that’ll come to your aid. And in Florida, going for a minimum of $10,000 BI coverage is obligatory. The BI insurance comes in handy for paying back the injured driver and thereby safeguarding your assets. The monetary value of BM is almost always the same as the UIM amount.
Opting for ‘collision damage’ is also compulsory like UM and BI and this insurance is for meeting the repair costs of the other driver’s damaged vehicle. The minimum amount that you’d have to choose for collision damage is $10,000. The Florida attorney recommends going for ‘collision damage’ coverage of at least $50,000. On the other hand, if your vehicle gets damaged because of the other driver then you can stake a claim from his vehicle insurance firm under his CD proviso. You can also claim refunds from your firm but you’d need to have property damage insurance for that.
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