Why You Need to Ask Questions When Buying Insurance
The truth is, in Florida, “full coverage” simply means you have all you need to legally be on the road, and that isn’t much!
All Florida requires is Personal Injury Protection (PIP), a form of very limited health insurance that kicks in for you, covering 80% of your medical bill up to $10,000.00 (unless your insurance company decides to limit it to $2,500.00) regardless of fault, and Property Damage Liability coverage, which covers damage you cause to someone else’s property (only up to $10,000.00). THAT’S IT! Florida does not require Bodily Injury Liability Coverage (BI). That means if someone with Florida mandatory insurance crashes into you, they are only covering your car, not you.
So where does that leave you if someone is negligent and crashes into you? You MIGHT get a fair value for the damage to your car eventually, and you MIGHT be eligible for $10,000.00 in medical coverage, but still owe 20% of those medical bills.
Florida being a no-fault state means it is up to YOU to protect yourself and buy the proper insurance. First off, the most IMPORTANT insurance is Uninsured/Underinsured Motorist Coverage (UM). The driver who hit you might not have enough BI coverage, or might not have any at all! UM causes your insurance company to step in and cover your damages when the other driver’s insurance won’t.
Next, never let yourself be talked into PIP with a deductible.
Finally, for your vehicle, although the other party is required to carry property damage coverage, their insurance might take its time getting your car fixed. Purchasing comprehensive and collision coverage on your own vehicle will reduce the amount of time you are without your vehicle, and carrying rental car coverage will make sure you have a vehicle while yours is being repaired. Any deductible you need to pay will more than likely come back to you from the other driver’s insurance.
Insurance in Florida can be tricky, but you’ll be better protected by asking your agent about these coverages. Do not let your agent sway you into believing these additions aren’t necessary or a waste of money. They won’t seem like a waste when you owe $100,000.00 to your medical providers after a crash and the at-fault driver wasn’t covered.
If the day ever comes when you need to make use of your insurance coverage, give us a call. We can help! Call 1-800-332-1992 for a free consultation about your insurance coverage.
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