Make Sure You Have Enough Car Insurance Before It’s Too Late

Make Sure You Have Enough Car Insurance Before It’s Too Late

Do you have enough car insurance? Don’t wait till after you’re involved in an accident to ask yourself this question. 

At our firm, a common scenario is this: a potential client comes into our office following a car accident for their free consultation. And as is so often the case, the other driver who caused the accident either doesn’t have any insurance at all, or has the minimum insurance coverage required by Florida law. Either situation is terrible for someone who has been seriously injured as the result of someone else’s careless driving. In a case like this, there’s typically very little an attorney could do. So what precautions can you take?

Car insurance in Florida can be a tricky thing to figure out.  It’s important for drivers to know what they must have versus what they should have! 

LLG

LLG

Understanding What’s Required in Florida 

Florida only requires $10,000 liability coverage for property damage to another person’s car; and $10,000 coverage for what is known as “Personal Injury Protection” or “PIP” (a.k.a. “No-Fault” insurance) to pay for your own medical bills and lost wages (but not those of the other driver if you were at fault). Even with this coverage, you are not protected from any claims for personal injury brought by the other driver against you. 

What Type of Auto Coverage Is a MUST-have?

• While you should already have the minimum requirements, we suggest that you also buy Bodily Injury Liability coverage in the amount of $100,000 per person/ $300,000 per incident (accident), at a bare minimum. This coverage protects YOUR assets if you cause a crash and another person files a lawsuit against you. 
• Uninsured/Underinsured Motorist (UIM) Coverage is another type of coverage and the most important coverage to have in Florida. In a 2021 article by Money Geek, findings showed that 20.4% of drivers are uninsured or underinsured in Florida. 
  • UIM coverage comes into play when the at-fault driver has either no Bodily Injury liability coverage or has low Bodily Injury liability coverage (such as $10,000). 
  • In this situation, your Uninsured/Underinsured Motorist Coverage will provide liability insurance for that driver up to the limits of coverage that you buy. This insurance can help protect you from financial ruin if you are seriously injured as a result of the negligence of an uninsured or underinsured driver.  

 What Other Type(s) of Coverage Should a Florida Driver Consider? 

Now that we know what a Florida driver “Must-Have,” there are a number of additional coverages that you should seriously consider.

• Collision Coverage – This will pay for the damage to your car involved in an accident, even if the accident was your fault or the at-fault driver is uninsured.
• Gap Coverage – This will protect you if your car is a total loss following an accident and you owe more on the vehicle than it is worth. Gap coverage will pay the difference; otherwise you will have to absorb this loss.
• Extended Personal Injury Protection Coverage (Extended PIP) – While you are required to have PIP coverage (which will pay for 80 percent of your medical expenses and 60 percent of your lost wages up to a combined maximum of $10,000), you can buy Extended PIP Coverage in an amount greater than $10,000. As $10,000 for medical expenses and loss of earnings does not go very far, it is recommended that you increase your PIP Coverage to between $50,000 and $100,000.
• Medical Payments Coverage (“Med Pay Coverage”) – This coverage will pay for medical bills that are not covered under the PIP. It is especially important if you either don’t have health insurance or have health insurance with a high deductible or co-pay. We recommend that you buy Med Pay Coverage in the amount of at least $5,000.

Driving in Florida is a necessity for many, but it's not always smooth sailing. Make sure that your car has adequate auto coverage so you don't get taken for a financial ride if an accident happens! Fortunately, The Lewis Law Group’s experienced car-accident attorneys can provide the legal backing and support you need when tough times arise.  Contact us for a FREE case evaluation.