Florida is a No-fault state when it comes to car insurance. Explained briefly, the No-fault law is intended to help individuals, injured in a car accident, receive the necessary financial aid without having to establish who is at fault. Of course, the amount of money paid out by insurance companies is up to the limits of the insurance coverage.
The minimum limits required by law are $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 probably the most, these limits will hardly be enough. Its strongly recommended to obtain cover well above the required minimum.
Listed below are three facts concerning Florida No-fault Insurance that you may not know.
1. Suing the at fault motorist is an option - Its completely wrong to assume that you can not take someone to court because of the No-fault law. Obviously, certain conditions must be met. There are two types of thresholds you must know about. Death or significant disfigurement are under verbal threshold, large medical expenses belong to the monetary threshold.
2. If asked, you have to agree to independent examination - In order for the Florida No Fault insurance law to operate properly, independent medical examination is essential. Its your insurer's right to select a doctor and ask for an impartial examination. You really don't have any choice but to oblige their request, or else your policy will be terminated.
3. You aren't protected 100% by Pip - Its a common mistake to assume that Pip will cover all medical bills and expenses. In fact, PIP only covers 80% . Do not forget you have deductible too. 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 familiar with Florida No-Fault insurance law will unquestionably help you find the ideal insurance plan for you. Ask your insurance broker as many questions as you can and never rush into purchasing a policy before you feel completely comfortable with your decision. Comparing plans and quotes is the key. You need at least 3 from different companies.
For more information and instant quotes please visit Florida No-fault Insurance and SR22 Insurance.
Wednesday, August 11, 2010
Thursday, August 5, 2010
New car insurance laws in Wisconsin - June 2010
A lot of drivers in Wisconsin may not be aware, but new car insurance laws are in effect from June 2010. It is of paramount importantce to fully understand the new laws. If you don't comply, unintentionally or not, you will probably face penalty charges and may even lose your drivers license. Study the following article regarding Wisconsin auto insurance extremely carefully and prevent avoidable headaches.
The minimum car insurance limits, according to the new Wisconsin law, are::
$50,000 for injury or death of one person;
$100,000 for injury or death of two or more people; and
$15,000 for property damage.
Uninsured (UM) and Underinsurande motorist coverage (UIM) are required in addition to the Bodyli Injury (BIL) and Property Damage Liability(PDL). For these types of cover the minimum limits are:
$100,000 - Bodily Injury or Death of One Person
$300,000 - Bodily Injury or Death of Two or More People
BIL doesn't not provide protection to you or your passengers. If you case an accident, BIL provides cover for other people you many have harmed. Medical charges, loss of income, pain and suffering, are some of the reasons people may make claims against you and that's precisely why you need BIL. BIL will usually cover members of your household who are at fault in a car accident or even someone who was driving your car with permission. Once again, your own injuries and losses will not be protected under BIL.
If you damage other individuals property, the costs will be covered by Property Damage Liability. Needless to say, the cover is limited to the amount stated in your policy. Government property is also covered. Similarly to Bodily injury liability, Property damage liability is only intended to cover other individuals' losses not your own.
Uninsured motorists and Underinsured motorists coverages give proper protection to you and the people in your vehicle in an event of an accident, in the event that the other motorist doesn't have adequate or any auto insurance. Statistics clearly show that more people than ever are driving without insurance in Wisconsin. You will undoubtedly feel much more secure knowing that you are protected. It is barely worth it paying out a great deal of money for medical bills and then suing an uninsured or underinsured driver.
There is no question that a lot of people in will see a rise in auto insurance rates. It is only normal for auto insurance in Wisconsin to go up if higher limits and additional cover are required. That's why it is even more important to shop around in order to find the best quote for you. Remember that affordable car insurance sounds good, but having sufficient coverage is equally important. If you are a high risk driver, think about taking a defence driving course - you will be amazed how much it will reduce your premiums by. You need to get auto insurance quotes from different insurers. Insurance expert recommend obtaining at least 3 different insurance quotes. You may be surprised by the difference since insurance companies use different formulas to calculate rates.
For more information and free insurance quotes from multiple insurance companies please visit Wisconsin auto insurance, or if you are a high risk driver - sr22 insurance.
Minimum limits for car insurance in Wisconsin
The minimum car insurance limits, according to the new Wisconsin law, are::
$50,000 for injury or death of one person;
$100,000 for injury or death of two or more people; and
$15,000 for property damage.
Uninsured (UM) and Underinsurande motorist coverage (UIM) are required in addition to the Bodyli Injury (BIL) and Property Damage Liability(PDL). For these types of cover the minimum limits are:
$100,000 - Bodily Injury or Death of One Person
$300,000 - Bodily Injury or Death of Two or More People
What are all these coverages for?
BIL doesn't not provide protection to you or your passengers. If you case an accident, BIL provides cover for other people you many have harmed. Medical charges, loss of income, pain and suffering, are some of the reasons people may make claims against you and that's precisely why you need BIL. BIL will usually cover members of your household who are at fault in a car accident or even someone who was driving your car with permission. Once again, your own injuries and losses will not be protected under BIL.
If you damage other individuals property, the costs will be covered by Property Damage Liability. Needless to say, the cover is limited to the amount stated in your policy. Government property is also covered. Similarly to Bodily injury liability, Property damage liability is only intended to cover other individuals' losses not your own.
Uninsured motorists and Underinsured motorists coverages give proper protection to you and the people in your vehicle in an event of an accident, in the event that the other motorist doesn't have adequate or any auto insurance. Statistics clearly show that more people than ever are driving without insurance in Wisconsin. You will undoubtedly feel much more secure knowing that you are protected. It is barely worth it paying out a great deal of money for medical bills and then suing an uninsured or underinsured driver.
How to find cheap auto insurance in Wisconsin?
There is no question that a lot of people in will see a rise in auto insurance rates. It is only normal for auto insurance in Wisconsin to go up if higher limits and additional cover are required. That's why it is even more important to shop around in order to find the best quote for you. Remember that affordable car insurance sounds good, but having sufficient coverage is equally important. If you are a high risk driver, think about taking a defence driving course - you will be amazed how much it will reduce your premiums by. You need to get auto insurance quotes from different insurers. Insurance expert recommend obtaining at least 3 different insurance quotes. You may be surprised by the difference since insurance companies use different formulas to calculate rates.
For more information and free insurance quotes from multiple insurance companies please visit Wisconsin auto insurance, or if you are a high risk driver - sr22 insurance.
Subscribe to:
Posts (Atom)