What Is In My Florida Car Insurance Policy?
Reader’s Question:
I want to understand my automobile insurance policy here in Palm Beach Florida a little better, what comprises my insurance policy?
Janet
Palm Beach, FL
Your regular auto insurance policy is actually a package composed of several different types of insurance coverage and each has a role in protecting your financial well being while driving a vehicle. The basic auto insurance policy will have the following: Bodily Injury Liability coverage, Property Damage Liability, Collision Insurance Coverage, Medical Payments (sometimes known as “MedPay”) or Personal Injury Protection, Comprehensive Insurance coverage and sometimes, Uninsured or underinsured motorists coverage policy. It would also be interesting to note that some of these coverage are optional while others, such as Liability Insurance, are mandated by the financial responsibility laws of Palm Beach, Florida.
Bodily Injury Liability – pays for medical treatment, injuries, income loss and pain and suffering compensation if you injure someone in a car accident. Florida minimum requirements: $10,000 payable to each injured person per accident for a total of $20,000 for all injured individuals per accident.
Property Damage – pays for damages you caused to private or public property in a car accident ($10,000 Florida Minimum)
Collision Insurance – pays for damages and repairs to both parties vehicle in a collision.
Comprehensive – Provides coverage if you lose your car due to non-car accident related circumstances like acts of god, floods, vandalism etc.
Personal Injury Protection – pays for treatment of your injuries in a car accident regardless of who is at fault.
Uninsured/ Underinsured Motorist – pays for the extra amount needed to restore or repair your vehicle if the other party has no or insufficient insurance coverage to do so.
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