Your Tallahassee Auto Insurance Provider
Auto insurance is of critical importance in Florida, as it is in any other state. Florida, like most states in the US, has laws that require all drivers to carry a minimum amount of auto insurance coverage. However, Florida consistently ranks in the top 10 of all states in the percentage of uninsured drivers. The primary reasons why auto insurance is essential in Florida include:
Financial Protection: Auto insurance provides financial protection in case of an accident. It helps cover the costs of property damage, medical expenses, and injuries to other drivers, passengers, or pedestrians involved in the accident. Without insurance, drivers would have to bear these expenses out of pocket, which can be financially devastating.
Legal Requirement: Florida law mandates that all drivers must carry minimum auto insurance coverage. Failing to have insurance can lead to penalties and legal consequences, such as fines, license suspension, or even vehicle impoundment. Therefore, having auto insurance is not just advisable; it is a legal obligation.
Personal Injury Protection (PIP) Coverage: Florida is a no-fault state, which means that in the event of an accident, each driver’s insurance company is responsible for covering their medical expenses and some other related costs, regardless of who was at fault. Personal Injury Protection (PIP) coverage is crucial in Florida to cover medical bills, lost wages, and other expenses after an accident.
Uninsured/Underinsured Motorist Coverage: Despite the legal requirement, some drivers may still drive without insurance or carry insufficient coverage. If you are involved in an accident with an uninsured or underinsured driver, having uninsured/underinsured motorist coverage can protect you from substantial financial losses.
Protection Against Lawsuits: Auto insurance not only covers your own expenses but also helps protect you from potential lawsuits. If you are at fault in an accident, the other party may seek damages through legal action. Liability insurance in your auto policy can help cover legal defense costs and potential settlement amounts.
Lender Requirements: If you are financing or leasing your vehicle, the lender typically requires you to carry comprehensive and collision coverage to protect their investment until the loan is paid off.
Peace of Mind: Having auto insurance gives drivers peace of mind knowing that they are financially protected and compliant with the law. It allows drivers to focus on the road without worrying excessively about the financial consequences of an accident.
Important Terms To Know
Personal Injury Protection (PIP)
- PIP is required in the state of Florida for all drivers.
- It pays medical bills (80%) and lost wages (60%) up to the policy limit.
- Minimum and maximum limits are $10,000.
- PIP covers injuries to you and your passengers in an auto accident, regardless of fault.
- PIP also offers a $5000 death benefit for burial and funeral expenses.
Property Damage Liability (PD)
- PD covers your liability for damages or loss of use to tangible property belonging to someone else in an auto accident.
- A $10,000 minimum limit is mandated by the state of Florida.
- Examples might include another person’s vehicle, fence or a building.
Bodily Injury (BI)
- This coverage pays for injuries or death to someone else that you are legally liable for after a motor vehicle accident.
- Minimum limits of $10,000 each person and $20,000 each accident, referred to as split limits.
- Drivers convicted of driving under the influence must purchase BI coverage in the amount of $100,000/$300,000 and $50,000 in PD liability.
- Discussing your coverage needs with our qualified insurance agents can help you better understand your options.
Uninsured and Underinsured Motorist (UM)
- Florida now ranks #3 in the country for highest auto insurance premiums. This is largely in part to the staggering number of uninsured drivers (nearly 27%) behind the wheel.
- Indemnifies you for medical bills, pain and suffering and lost wages from an auto accident caused by an uninsured or underinsured motorist.
- This coverage protects YOU!
Comprehensive or Other Than Collision (OTC)
- Provides coverage for damage to your insured vehicle from fire, theft, windstorm, vandalism, flood, falling objects or from colliding with an animal.
- This coverage is usually available even if you elect not to purchase Collision overage.
- Common deductible amounts are $250, $500, $750 or $1,000.
- Consult with our agent to determine what deductibles are available to you.
- Collision coverage pays for the repair or actual cash value of your insured vehicle if it collides with another vehicle, flips over or collides with another object (except animals).
- Common deductibles are $250, $500, $750 and $1000
- In general, only equipment that is permanently attached to your vehicle is considered for coverage in a Collision claim.
- Pays for medical bills PIP won’t cover within 3 years from the date of accident.
- Medical payments are “per person”.
- Can help with PIP deductible.
- No economic benefit as with PIP.