Florida Insurance Information

Florida law requires all vehicle owners have a minimum of $10,000 Personal Injury Protection (PIP) and a minimum of $10,000 No-Fault Property Damage Liability (PDL). However, Florida state law does not require Bodily Injury Coverage or Collision Coverage which leaves many Florida drivers severely underinsured.

Under Florida’s No-Fault insurance statute, your insurance is responsible for covering 80% of your reasonable, related medical expenses and 60% of your lost earnings, subject to the limits of the coverage, regardless of who caused the accident. It is important to note that you are only covered if you are in an insured vehicle at the time of the accident.

In the case of an accident-related fatality, Florida No-Fault pays the family “Survivor’s Benefits,” which is the approximated income the deceased would have provided had he/she lived. This is limited to a maximum amount per month for a set period of time.

No matter where in the United States the accident takes place, your Florida No-Fault policy pays these benefits. No-Fault insurance also covers family members in your household who do not have their own policy. Personal Injury Protection benefits are paid by your policy even if relatives are pedestrians or passengers in another person’s car when they are hurt.

Limits to No-Fault Insurance

There are limits to what No-Fault insurance will pay. Repairs to your vehicle or other vehicles involved in an accident and replacement of a stolen vehicle are not covered by Florida No-Fault Insurance unless a vehicle was properly parked at the time of an accident.

In order to file a suit against the driver at fault, Florida’s no-fault insurance law requires that you prove a "serious" injury resulted from the accident, which is determined by a legal-medical team. Injured parties must show they sustained permanent injury, significant scarring or disfigurement, or death before a valid claim can be made.

Medical Payments or Personal Injury Protection (PIP)

In addition to No-Fault Liability insurance, Florida law requires drivers to purchase Medical Payments Coverage, also known as “Personal Injury Protection (PIP),” “Med-pay,” or “Economic loss protection benefits.”

It is important to note that PIP is not health insurance, and is not designed to pay for incurred medical bills. It is intended as a one-time settlement for all of your damages. $10,000 is the minimum required PIP insurance for bodily injury or death of one person in any one accident. However, in order to protect your personal assets, it is wise to purchase a significantly higher policy. If the jury renders a verdict for the plaintiff in excess of the defendant’s liability policy limit, the defendant is then personally liable for the additional amount.  lawandy

Uninsured and Underinsured Motorist Benefits

Uninsured and underinsured motorist benefits are two related types of voluntary coverage that are highly recommended, especially because the legal requirements for insurance coverage are so low. These two types of insurance protect you against a negligent driver who is illegally driving without liability coverage or with coverage that is insignificant to cover your damages. In the case of an uninsured motorist, your insurance carrier will pay any judgment rendered, up to the limits of the policy you purchased. If the negligent party has liability insurance, but the limits are less than your own uninsured motorist coverage and your damages exceed their limits, additional claims can be made under your underinsured motorist policy.

Collision coverage

Collision coverage is another type of voluntary coverage you can purchase, which provides for the repair or replacement of your own vehicle after an accident, regardless of fault. An innocent victim of an accident may present a claim for property damage under his own collision coverage or under the negligent defendant’s property damage liability insurance coverage. Collision coverage normally includes a deductible, whereas property damage liability insurance coverage does not.