Required And Optional Florida Auto Insurance Coverages
Required And Optional Florida Auto Insurance Coverages
Like every state in the nation, Florida requires all licensed drivers to carry state mandated coverages in order to operate a motor vehicle on public roadways. Florida's Financial Responsibility laws are different from other states in terms of the minimum limits of liability set by the state. These minimum liability limits must be satisfied to drive legally within the state of Florida for both residents and visitors. If you are getting quotes cheap Florida auto insurance, understand how limits of liability work and what coverages will provide you with the most comprehensive coverage. While auto insurance is an intangible product that no one ever wants to have to use, educating yourself on the coverages will help you make a well-educated decision when binding you auto insurance.
Bodily Injury and Property Damage Coverage
Liability insurance is broken down into two coverage typesBodily Injury and Property Damage coverage. Bodily Injury is a third party coverage that will pay for injuries sustained to a third party if you are determined to be at fault for the accident in question. Florida law requires drivers carry no less than $10,000 in bodily injury per person and $20,000 bodily injury coverage per accident. Carrying these limits will satisfy the state laws, however it is important to understand that carrying the state minimums will leave you susceptible to lawsuits, judgments, wage garnishments and the loss of your assets in the event injuries exceed these limits. While you may be looking for cheap Florida auto insurance, it is also important ensure you are protected against these damaging scenarios.
Property Damage will pay to repair or replace the third party's vehicle if you are deemed at fault in the accident. The minimum Property Damage limit set by the state is $10,000. Just like with Bodily Injury cover, it is important to increase limits based on the premiums you can afford. As many may know, $10,000 will not cover even minor repairs on same high-end vehicles.
Optional Coverages
There are many optional coverage designed to protect you. These coverages include Uninsured Motorist protection along with comprehensive and collision coverage for your vehicle. While these coverages are not required by law to operate a motor vehicle, they are recommended for anyone who can afford them. Uninsured Motorist will provide you and your family with payment for injuries sustained in an accident where the at fault party did not have insurance. Comprehensive covers damages to your vehicle from fire, theft and vandalism. Collision is designed to repair or replace your vehicle no matter who is at fault in the accident and is subject to the deductible stated on your contract. If you cannot reasonably afford to repair or replace your vehicle yourself, you should not exclude these coverages.
Quote several cheap Florida auto insurance policies online with different coverage to see what you can afford. Drivers will be surprised that a fully comprehensive policy is not as expensive as they would imagine. Protect yourself and choose coverages to protect your assets and your family.
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