Auto Insurance 101
Auto Insurance can become complicated quickly. Many people may think they have full coverage but, that may not be the case. Florida only requires you to have PIP and Liability coverage but not Bodily Injury, Uninsured/ Underinsured Motorist, MedPay or Collision coverage. But what are all those coverages? Allow us to explain.
Bodily Injury Coverage
Bodily Injury coverage is optional coverage that is designed to compensate an injured victim for damages caused by another negligent driver. Unfortunately, because Bodily Injury coverage is not required, many Florida drivers do not have Bodily Injury coverage.
Uninsured/Underinsured Motorist Coverage
Uninsured or “Underinsured” motorist coverage is optional coverage that is designed to compensate an injured victim for damages caused by a negligent driver who has either no Bodily Injury coverage or insufficient Bodily Injury coverage.
Personal Injury Protection Coverage (“PIP”)
Personal Injury Protection is required by Florida’s “No Fault” law. Under this law, depending on the type of coverage that you have selected, your insurance company is generally required to pay 80% of your medical expenses, and under qualified circumstances, 60% of your lost wages, up to $10,000. To qualify, you must receive your initial medical treatment within 14 days and there must be a determination that the injured person had an Emergency Medical Condition.
Medical Payment Coverage
Medical Payment coverage is optional coverage that is designed to pay the remaining 20% of your medical expenses that were not covered under PIP. This coverage is usually capped at a certain amount.
Property Damage Liability Coverage
Property Damage Liability coverage is used to repair or replace the vehicle that was damaged by the at-fault party’s negligence. Florida only requires vehicle owners to have $10,000 in Property Damage Liability coverage.
Collision coverage is optional coverage that is designed to cover the cost of the damages to your vehicle that were caused by a collision with another vehicle or object.
If you ever have any questions about your coverage, be sure to contact your agent or auto insurance company. If you would like us to point you in the right direction or help you find the right questions to ask, feel free to give us a call anytime. We are happy to assist you so you can have the best chance of protecting your family should an accident occur.
The attorneys of the Nicoletti Law Firms handle a variety of personal injury matters including car accidents, motorcycle accident, truck accidents, and slip & falls. If you have been injured and are need of an experienced and qualified personal injury attorney, call the Personal Injury Attorneys of the Nicoletti Law Firm today. You can contact the Nicoletti Law Firm anytime at (727) 845-5972 or you can fill out our Free Case Evaluation Form. Do not ever worry about having to travel to one of our offices conveniently located in Port Richey, Tampa (By Appt.), & Zephyrhills. We are always willing to travel to wherever is convenient for you at no cost. Be safe everyone!