What Should I Include In My Florida Auto Insurance Policy?

What Should I Include In My Florida Auto Insurance Policy?
Auto insurance in Florida, as in other states, is a mix of requirements and options. And there are numerous factors that can impact how much and what kind of car insurance policy would best serve your needs.
Given the need to comply with coverage minimums in multiple coverage categories, the complexity of current Florida auto insurance law, and the need to stay in sync with auto insurance regulation updates, it’s a good idea to talk over each aspect of your policy with an experienced auto insurance agent.

What You MUST Include In Your Policy
It’s not optional to buy basic liability car insurance in Florida – it’s mandatory. And driving without valid insurance can get you fined and in big trouble with the law.

In Florida, you must buy at least $10,000 of property damage liability cover and $10,000 of personal injury protection.

You may well want to buy more cover in these essential liability categories if you drive a heavy-duty, larger vehicle that could cause a lot of damage in an accident. Or, if you drive a lot for work, that’s another good reason to invest in extra liability protection.

Property damage protection will cover damage done to others’ property IF the accident is YOUR fault. Personal injury protection will cover your medical expenses if you’re accidentally injured in an auto accident, or your funeral expenses, if you perish in a car crash – regardless of who was at fault.

What Lenders May Require You Include
Collision insurance covers the cost to repair or replace your car in the event of an auto accident. Comprehensive insurance adds coverage for stolen vehicles or for storm damage, vandalism, and more.

Neither collision nor comprehensive cover is ever required legally, but it is frequently a stipulation in a car loan agreement that you buy it until you pay off the car in full.

With a low-cost car, the lender might not even require collision/comprehensive. And even if you own your car free and clear, if it’s a high-cost vehicle, you may do well to add this level of coverage to protect your investment.

Bodily Injury Liability
You are not required to add bodily injury liability cover in Florida because each driver’s own insurance policy will cover his/her medical expenses regardless of fault in the event of an accident (the $10,000 of PIP cover).

However, it may makes sense to add extra cover for personal injury to other drivers or pedestrians to your policy. Why? Because, if the cost of medical expenses incurred exceeds the $10,000 PIP limit, then you could be personally sued for the balance.

Uninsured Motorist Protection
Not everyone on the road in Florida is covered by auto insurance, despite it’s being a legal requirement.

For a relatively small amount extra added to your premium, you can protect yourself against both uninsured and under-insured motorists. This cover kicks in when the other drive is at fault and causes you injury and/or property damage, but he/she is not insured OR doesn’t have enough liability cover to take care of your full losses.

When deciding on exactly what to include in your Florida auto insurance policy, there’s a lot to consider. Speaking with an expert insurance agent will make a huge difference.

For help in weighing the various factors, or for a free quote contact Flagler County Insurance Agency today!