What is the minimum car insurance needed in Florida? What coverage does Florida minimum insurance provide? Is there any additional coverage besides the mandatory minimum Florida coverage you may want or need? These are all questions you may have if you’re looking at purchasing or changing your car insurance.
Sammons Injury Law has created a comprehensive guide to the different types of car insurance available for purchase, and what coverage these afford. These tips can also help you save money on your car insurance because knowing what coverage you’re paying for can help you adjust it for your specific situational needs. Also, certain very important optional coverages can have very affordable premiums and may be worth adding to your policy.
What is the mandatory minimum car insurance required in Florida?
In Florida, § 723.021(8) mandates that drivers carry the mandatory minimums of $10,000.00 in property damage, and $10,000.00 in personal injury protection coverage. More on those below.
What does “property damage” insurance cover?
Property damage covers damage to the physical property of another through your own fault. This can include another person’s motor vehicle, as well as damage to houses, signposts, fences, and other physical property. It will not cover damage to your own auto; damage to your automobile is covered under collision or comprehensive coverage, depending on the cause. Florida requires drivers cto arry a minimum of $10,000.00 of this coverage.
What does “personal injury protection” insurance cover?
Personal injury protection insurance covers injury to yourself or another insured on your own policy in the event of an accident. It may also be afforded to one injured through your fault if that person did not, and was not required to, carry their own personal injury protection (like a pedestrian who does not own an automobile). Personal injury protection is considered “no-fault” coverage, meaning that it will begin making payments regardless of who caused the accident. It makes payments ONLY for medical bills, and essentially only covers 80% of each medical bill. Coverage for the other 20% can be recovered from an at-fault driver, if there is one, or from medical payments coverage if carried. You may also be able to recover lost wages from this coverage as well if this option was elected by the policyholder.
What does “bodily injury” insurance cover?
Bodily injury (BI) insurance covers injury to another through your own fault. Bodily injury coverage can make payments for medical bills and expenses as well as incidental damages, like pain and suffering, or household services required as a result of the accident. Bodily injury coverage can ensure that your personal assets are not pursued in the event you cause injury to another; you also cannot purchase more UM coverage than you have in BI coverage, so if you want UM, you have to purchase BI in the same or greater amount.
What does “underinsured/uninsured motorists” insurance or “UM” insurance cover?
Underinsured/uninsured motorists’ coverage, also called UM, is insurance that becomes available in the event that you are injured by another that does not carry any bodily injury coverage, or does not carry enough bodily injury coverage to cover your medical expenses and other damages. UM can be one of the most important coverages you carry on your insurance policy; since bodily injury (BI) is not mandatory coverage in Florida, you may find yourself in a situation where you have been injured by another and there is insufficient coverage for your injuries. Especially because PIP only pays 80% of medical bills, you could be left paying the other 20% without UM coverage.
I was in an accident – do I have enough insurance?
Call Sammons Injury Law if you have been in a car accident and have questions about your insurance policy. If you were injured through the fault of another, we can look at your policy as well as their policy and help advise you on the best course of action to take. Call us today for a free consultation about your car accident. We serve all of Florida so whether your accident was in Apollo Beach, Tampa, Bradenton, Ruskin, Tampa, Gibsonton, Lakeland, Bartow, Wimauma, Brandon, or anywhere else in the state, and sometimes even out-of-state, we can HELP! Give us a call locally at 813-565-1000 or toll-free at 844-75-CRASH (27274). We look forward to serving you!