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.
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