I Have Full Coverage Auto Insurance – Not So Fast – Part II

I Have Full Coverage Auto Insurance - Accident Lawyers - Sarasota, Bradenton

I Have Full Coverage Auto Insurance – Not So Fast – Part II

I’m not in the business of generating revenue for insurance companies. At the same time, it is imperative for every driver to understand the nuances of Florida auto insurance so as to better protect themselves and their families.

The bottom line? Talk to your agent, understand the various insurance coverages available to you, and purchase as much of that insurance as you can reasonably afford.

The remainder of this article will describe each of the primary auto insurance options available in Florida and how each can help protect you. If it helps, print them out and take them to your auto insurance agent for discussion purposes. As always, if you have questions you can contact me directly.

What Auto Insurance is Required by Florida Law?

Under most circumstances, Florida only requires drivers to carry $10,000 in Personal Injury Protection (PIP) and $10,000 in Property Damage Liability (PDL).

Personal Injury Protection (PIP) – Required

What PIP Pays For What PIP Doesn’t Pay For
80% of your medical expenses*
60% of your lost wages*
$5,000 death benefit
Your car repairs or car replacement
Injuries you may cause to someone else
Property damage you may cause to someone else
* – Regardless of who is at-fault AND up to your PIP policy limits
Notes: This is your first line of protection for medical treatment expenses and lost wages related to an auto accident.

Medical Payments (MEDPAY) Insurance – Optional

What MEDPAY Pays For What MEDPAY Doesn’t Pay For
100% of your medical expenses* Your lost wages
Your car repairs or car replacement
Injuries you may cause to someone else
Property damage you may cause to someone else
* – Regardless of who was at-fault AND up to your MEDPAY policy limits
* – You may be required to reimburse MEDPAY expenses

Property Damage Liability (PDL) – Required

What PDL Pays For What PDL Doesn’t Pay For
Property damage you may cause
to someone else, such as a
building, car, telephone pole, etc…*
Your car repairs or car replacement
Your medical bills or lost wages
Injuries you may cause to someone else
* – If you’re at-fault or sometimes even partially at-fault AND up to your PDL policy limits

Collision Insurance – Optional by Law and Usually Required by Banks or Lenders

What Collision Pays For What Collision Doesn’t Pay For
Your auto accident related car repair
or car replacement*
Your medical bills or lost wages
Injuries you may cause to someone else
Property damage you may cause to someone else
* – Regardless of who was at-fault AND up to your Collision policy limits

Comprehensive Coverage – Optional by Law and Usually Required by Banks or Lenders

What Comprehensive Pays For What Comprehensive Doesn’t Pay For
Your car repair or car replacement
from theft, vandalism, fire, wind,
rain, flooding, falling objects*
Your injuries or lost wages
Your auto accident related car repairs or replacement
Injuries you may cause to someone else
Property damage you may cause to someone else
* – Not auto accident related AND up to your Comprehensive policy limits

Bodily Injury Liability (BI) Coverage – Usually Optional. Required after DUI Conviction

What BI Pays For What BI Doesn’t Pay For
Injuries you may cause to someone else*
Your legal defense if you are sued by
the other party.
Your medical bills or lost wages
Your car repairs or car replacement
Property damage you may cause to someone else
* – If you’re at-fault or sometimes even partially at-fault AND up to your BI policy limits

Uninsured / Underinsured Motorist (UM) Coverage – Optional

UM COVERAGE – MY OPINION – THE MOST IMPORTANT INSURANCE YOU CAN PURCHASE
What UM Pays For What UM Doesn’t Pay For
Your medical expenses*
Funeral expenses*
Your lost wages*
Your pain and suffering*
Your injuries or lost wages if you’re at-fault
Your car repairs or car replacement
Injuries you may cause to someone else
Property damage you may cause to someone else
* – If you’re not at-fault or sometimes even only partially at fault AND up to your UM policy limits
Notes: Given the number of uninsured or underinsured motorists in Florida, UM coverage can offer critical protection to you and your family. My recommendation is to buy as much UM coverage as you can reasonably afford.

Stacking your UM coverage will also increase the limits of your UM policy, in addition to other benefits it offers. In fact, under most policies, stacking UM coverage will cover you even if you are a motorcyclist, bicyclist, runner or pedestrian when another vehicle causes injury to you. I highly recommend stacking your UM coverage even if you only have one vehicle especially if you are often on the road as a pedestrian, runner, bicyclist or motorcyclist.

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Saturday & Sunday Closed

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Saturday & Sunday Closed

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Saturday & Sunday Closed

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Monday – Friday
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Saturday & Sunday Closed