In Florida, as in most states, all drivers are required to carry auto insurance that at the least provides modest coverage in case they are involved in an accident. However, depending on your assets and the amount you’re willing to pay for coverage, many more extensive options are available, and advisable.
If you are injured in an auto accident, PIP covers you, up to your limit, according to the following breakdown:
You must carry, at minimum, $10,000 in PIP coverage.
PD coverage protects you up to your limit in the event that you cause damage to another individual’s property while you are driving. Property covered under PD includes:
You must carry, at minimum, $10,000 in PD liability coverage
Bodily Injury Liability coverage protects you financially if you cause an accident and are found liable for another individual’s injuries that require medical attention. These injuries may range from minor to serious to fatal. You are not required to carry any BI liability insurance. However, under Florida’s Financial Responsibility law, you as a driver, if you are at fault for the accident, may be found to be responsible for bodily injuries caused to other persons as a result of the accident. So even though it’s not required, it is a very good idea to have BI liability coverage.
The following types of insurance are available but not required:
In addition to having the required coverage under Florida law, as well as the not-required, but highly recommended BI liability coverage, some of the most important coverage you should seriously consider is the UM/UIM coverage mentioned above. It can be devastating to sustain catastrophic insurance as a result of an accident which is someone else’s fault, but where they have little or no BI liability coverage. Unless the at fault party has substantial wealth, you are then left with no where to turn to obtain damages for your injuries.
Florida auto accident lawyer Steven Combs composed this post with contribution from attorney Shane Hebert.