Florida is a No-fault state when it comes to auto insurance. Explained briefly, the No-fault law is intended to help people, injured in a car accident, receive the required financial aid without having to establish who is at fault. The insurance plan limits and the particular situation will determined what the pay out amount really should be.
In the state of Florida, the minimum required liability is quite low - only $10,000 of personal injury protection (PIP) and $10,000 of property damage liability (PDL). It is not very difficult to see that in case of a serious accident, when you need your insurance the most, these limits will hardly be enough. Its highly recommended to purchase cover well above the required minimum.
The essential information aside, here are 3 things you may possibly not know about Florida No fault Insurance.
1. You can still take legal action against the at fault person - Its wrong to presume that you cannot take the at fault driver to court simply because of the No fault law. However, certain conditions must be fulfilled. There are 2 types of thresholds you must keep in mind. Verbal threshold, death or significant disfigurement, and monetary threshold - huge dollar sums for medical bills.
2. If asked, you need to agree to independent examination - Independent medical examination is a crucial part that makes the Florida No Fault law function. Your insurance carrier has the right to request for an unbiased examination and the medical professional is selected by the insurer also. You really don't have any choice but to oblige their request, or else your policy will be terminated.
3. You are not covered 100% by Pip - Often, motorists in Florida make the presumption that Personal injury protection will cover all their costs in a case of a car accident. In reality, PIP only covers 80% . And lets not forget the deductible amount. . A good example may be able to illustrate this better.
- Total Medical Expenses:$10,000
- Percentage payable under PIP statute:80 percent
- Benefits due but for the deductible:$8,000
- Less deductible:$2,000
- Benefits payable:$6,000
Being able to select the right plan for you and your family really depends on comprehending Florida No Fault Insurance law. Don't rush to buy an insurance policy until you feel positive you have made the right choice. Ask your insurance agent as many questions as possible. Comparing policies and quotes is the crucial. You need at least 3 from different companies.
For more information and instant quotes please visit
Florida No fault Insurance and
SR22 Insurance.
Post a Comment