Not every Florida car insurance policy is the same. These policies provide different limits and coverage, meaning there is no one-size-fits-all regarding auto insurance in Florida. Make sure you know the coverage you need by asking questions and shopping for a policy that meets your needs. A good Florida car insurance policy will have the features listed below.
When looking for car insurance in Florida, you want to ensure that your coverage is adequate and appropriate. You also want to ensure you’re getting the best value for your dollar.
Finding good coverage for car insurance in Florida can be tricky. However, you’ll get the right coverage at an affordable price if you know what to look for.
Bodily Injury and Property Damage Liability
Good coverage for car insurance in Florida should include, at a minimum, both bodily injury and property damage liability. Bodily injury liability covers injuries you cause in an accident. This includes medical bills, lost wages, pain, and suffering. In contrast, property damage liability covers the cost of repairing or replacing other vehicles or property you damage in an accident.
The costs of an accident you caused, in which someone was hurt and their car or property was damaged, would be your responsibility to cover. You may also be required to pay any court costs associated with filing a lawsuit against you if the plaintiff decides to seek compensation from your insurance company rather than from you directly.
The only way to avoid this kind of financial burden is by purchasing enough car insurance in Florida so that your insurer will cover any damages caused by an accident. The recommended coverage is $100,000 per individual and $300,000 per accident.
Personal Injury Protection
Personal Injury Protection (PIP) is a form of car insurance that covers medical costs for injuries sustained in an accident. Florida requires all drivers to maintain PIP on their policy, and it’s important to ensure you have sufficient coverage to protect yourself in case of an accident.
The minimum amount required by Florida law is $10,000 per person. If you’re involved in a serious accident, it may be worth increasing this amount to cover more out-of-pocket expenses.
Underinsured/Uninsured Motorist Coverage
Having underinsured motorist coverage on your auto insurance policy is crucial. This type of coverage helps pay for damages if you are in a car accident with someone who doesn’t have enough insurance or if there’s no other driver involved in the accident at all.
Underinsured motorist coverage can also help pay for injuries during an accident, even if the other driver was not at fault. Underinsured motorist coverage usually pays out more than personal injury protection.
The main benefit of obtaining uninsured motorist coverage is that you will have the money you need after an injury accident with an uninsured driver, regardless of who was at fault. Florida is a no-fault state, and you may need supplemental insurance to cover medical bills, lost wages, and more if you’re involved in an accident and your PIP benefits run out. Simply put, UM insurance can do that for you. It shields you from shouldering the costs associated with another driver’s carelessness.
Comprehensive Coverage vs. Collision Coverage
Florida car insurance is a must for any driver in the state. While it’s tempting to think that the bare minimum of coverage is enough, investing in a comprehensive car insurance plan is safer and more cost-effective. The difference between comprehensive and collision coverage lies in what they cover.
Comprehensive coverage covers you in case of an accident that wasn’t your fault or a natural disaster. If you have comprehensive insurance, the company will pay for repairs regardless of who was at fault.
Collision coverage helps pay for repairs to your vehicle if you get into an accident with another driver. There are two types of collision coverage: full and limited. Full collision insurance covers the vehicle’s actual cash value, which is what it would cost to replace it with an identical model minus depreciation. Limited collision coverage only covers the car’s actual cash value. Nonetheless, you can add the “collision deductibles” feature to select a deductible amount that will be deducted from your settlement.
Collision and comprehensive coverage are optional parts of Florida’s No-Fault law, but they’re recommended. If you only have liability insurance, which pays for repairs to other people’s cars but not your own, you’ll have to pay for any repairs necessary to your own vehicle out of pocket.
If another driver who doesn’t have enough insurance damages your car, comprehensive and collision coverage can help cover the costs until a settlement or lawsuit is reached.
Finding a Good and Cost-Effective Insurance Policy in Florida
In Florida, you must know the state’s car insurance requirements and how much coverage you want. Your insurance may offer you lower rates if you have a good driving record and no accidents or tickets. You can save money on Florida car insurance even with a poor driving record.
Moreover, getting multiple car insurance quotes is the best way to save money. The more quotes you get from different providers, the easier it will be for you to find affordable car insurance in Florida.