Types of Auto Insurance Coverages in Florida

Florida offers many comprehensive types of auto insurance coverage designed to protect you, your loved ones, and your property in the event of an accident. There are currently seven main types of insurance and this article will explain the differences, Florida insurance legal requirements, and benefits of each one.


Florida Auto Insurance to Cover Medical Expenses and Wages

What is Personal Injury Protection (PIP)?

Personal Injury Protection (PIP) is required by law in Florida. It covers 80% of medical expenses and 60% lost wages (up to $10,000) for you, your immediate family members, and certain other individuals in your vehicle. Under the Florida Motor Vehicle No-Fault Law, it doesn’t matter if you were at fault in the accident, you receive this coverage regardless.

The most important aspect of the PIP law is that you lose access to benefits if you do not seek medical assistance within 14 days after the accident. Additionally, the wage benefits are reduced to $2,500 in coverage if the diagnosis is not a “medical emergency,” regardless of the fact that you pay for $10,000 worth of coverage.

What is Bodily Injury Liability (BI)?

Bodily Injury Liability (BI) is not required by Florida law under most circumstances. If you are found to be at-fault in an accident, BI coverage will cover the medical expenses and lost wages of the other injured parties. However, because many insurance companies use tactics that delay payment of benefits, you may find yourself as part of a lawsuit months or even years after the fact.

What is Uninsured Motorist (UM) Coverage?

Uninsured Motorist (UM) coverage is not required by Florida law, but it can be invaluable in the event the other driver is not properly insured. If the other person is found to be at-fault, UM coverage will help cover your medical expenses, lost wages, and pain and suffering. UM coverage only pays out if the other person has no or inadequate BI coverage.

What Does Medical Payments (MedPay) Insurance Cover?

Medical Payments (MedPay) coverage is not required by Florida law, but it is designed to cover the remaining 20% of medical expenses that are not covered by PIP. While it is optional coverage, it is very important to have to ensure you don’t find yourself in stacks of medical bills after an accident.

Florida Auto Insurance to Cover Property Damage

What Does Property Damage Liability (PD) Cover?

Property Damage Liability (PD) is required by law in Florida. PD covers the damages to other people’s property that are caused by you, but it does not cover damages to your vehicle. With PD, if you are found to be at-fault in an accident, the coverage shields you from paying out-of-pocket for property damages. It usually pertains to the other person’s vehicle, but it can also cover damage done to buildings and other property you may have damaged in the collision.

If you are not at-fault in an accident, the other driver’s PD coverage would pay for damages to your vehicle or other property. However, if the other person doesn’t have PD insurance coverage, you may not be reimbursed for damages. Therefore, it is wise to carry your own Uninsured Motorist (UM) or collision coverage.

What is the Difference Between Collision Coverage and Comprehensive Coverage?

Collision coverage is designed to pay for the damages to your vehicle when the other person is found to be at-fault. Whereas comprehensive coverage is designed to cover other types of damage that are not caused by an accident such as vandalism and theft. Neither collision coverage nor comprehensive coverage are required by Florida law. When comprehensive and collision coverage are combined, it is sometimes referred to as a “Full-coverage policy,” but that is a bit of a misnomer. A full-coverage policy would be the same as the legally mandatory basic insurance of PIP and PD.

What Happens if I Cancel My Auto Insurance?

There are many drawbacks to cancelling your auto insurance, even if you’re not driving your vehicle for long periods of time. Aside from the fact that if you decide to drive with no insurance, it could lead to a whole mess of legal troubles, cancelling your insurance will lead to a gap in coverage. Almost all insurance companies charge higher rates to people who have a history of gaps in coverage. While you think you’re saving money in the short-term, it may end up costing you more due to raised rates when you reactivate your insurance. 

Navigating the world of auto insurance claims after an accident can be complicated and confusing. The team at Darrigo and Diaz is here to help you understand why you need specific types of coverage, how to get the maximum benefits of coverage, and how to handle accident claims quickly and efficiently. Contact us today online or call (813) 774-3341 immediately to discuss your accident case with a free, no-obligation phone consultation. 


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