Explain Florida car insurance coverages
FLORIDA CAR INSURANCE COVERAGES DISCRIBED IN DETAIL.
Please spend the time and review each coverage
Chris the insurance guy 866-636-2010
There are seven basic kinds of car insurance in Florida:
1) personal injury protection (PIP),
2) property damage liability (PD),
3) bodily injury liability (BI),
4) uninsured motorist (UM),
5) medical payments coverage,
6) collision coverage, and
7) comprehensive coverage.
Each kind of insurance is designed to cover different things. PIP, BI, UM, and medical payments coverage are designed to pay for injuries and lost wages. PD, collision, and comprehensive are designed to pay for damage to property. Only PIP and PD are required by Florida law.
1) Personal injury protection (PIP) insurance is designed to pay for personal injuries to you and your immediate family (and certain other people), regardless of fault. PIP insurance also covers your lost wages. PIP insurance is required by Florida law. Florida Statute 627.736, titled "Florida Motor Vehicle No-Fault Law," describes the rights and requirements for PIP coverage. No matter who is responsible for causing the accident, your PIP insurance is designed to pay for your injuries and your family's injuries. PIP insurance used to cover 80% of your medical bills and 60% of your lost wages up to $10,000.
2) Property damage liability (PD) insurance is designed to pay for damage caused by you to other people's property. PD insurance is required by Florida law. If you cause an accident, then your PD insurance is supposed to protect you by paying for the property damage you caused. The most common property damage is damage to the other person's car or motorcycle, but it also covers damage to buildings, telephone poles, and anything else that might be damaged in a car accident. Your PD insurance does not pay for damage to your car; it only covers damage to other people's property. If the other person was at fault for the accident, then his or her PD insurance should pay for the damage to your car. However, as many as 3 out of 10 drivers in Florida do not carry PD insurance, even though it is required by law. To properly protect your car from damage, you should purchase collision insurance.
3) Bodily injury liability (BI) insurance is designed to pay for injuries caused by you to other people. BI insurance is not required by Florida law under most circumstances. If you cause an accident, then your BI insurance is supposed to protect you by paying for the medical bills, lost wages, and pain and suffering of other people.
4) Uninsured motorist (UM) insurance is designed to pay for injuries suffered by you due to the negligence of others. UM insurance is not required by Florida law, but it is the most valuable kind of insurance you can buy. If you are injured in an accident that is not your fault, then your UM insurance is there to protect you by paying for your medical bills, lost wages, and pain and suffering. UM insurance can be "stacked" or "non-stacked." Stacked UM is better because you are entitled to coverage equal to your base UM coverage multiplied by the number of cars on your policy. UM insurance only pays out if the person who caused the accident had no BI insurance or not enough BI insurance.
While Florida law mandates the minimum amounts of coverage you must purchase, you always have the option of purchasing higher amounts of coverage on your property injury protection and property damage liability coverage.
Also, for those looking for more comprehensive coverage, most Florida car insurance companies will offer the following types of optional coverage:
5) Comprehensive – This coverage will pay for damages to your car that do not result from accidents, e.g., scratches to your car's paint due to vandalism.
6) Collision – This coverage will pay for accident-related damages to your car.
Towing and labor.
Uninsured/underinsured motorist – This coverage will pay for damages incurred by incidents with drivers who do not have insurance.
Call Chris at 1-866-890-1789 for more details.
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