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Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy.

Auto insurance provides property, liability and medical coverage:

What is liability coverage?

Liability coverage pays for your legal responsibility to others for bodily injury or property damage.

What is Personal Injury Protection (PIP)?

For treatment of injuries to the driver and passengers of the policyholder’s car. At its broadest, PIP can cover medical payments, lost wages and the cost of replacing services normally performed by someone injured in an auto accident in Florida.

What is collision coverage?

For damage to the policyholder’s car from a collision. The collision could be with another car, a light post, fire hydrant, etc.

Comprehensive

For damage to the policyholder’s car that doesn’t involve a collision with another car. Covered risks include fire, theft, falling objects, missiles, explosion, earthquake, flood, riot and civil commotion.

What does uninsured motorist mean?

For treatment of policyholder’s injuries as a result of collision with an uninsured driver. Under insured motorist coverage can also be included in an auto policy. Under insured motorist coverage comes into play when an at-fault driver has auto liability insurance, but the limit of insurance is inadequate to pay for your damages. Maybe common in Florida.

What is the minimum amount of insurance required in the state of Florida?

Each state requires that you have certain types of coverages with minimum liability limits. The insurance industry recommends that your bodily injury liability limits be $100,000 per person and $300,000 per occurrence. No bodily injury is required in Florida, only $10,000 limit of PIP.

How much auto insurance should I carry?

The amount of auto insurance coverage an individual needs is based on age, model and value of vehicle; net worth and a few other other factors. Contact our office for more details.

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