Property Damage Liability, required at a minimum of $10,000, pays for the damage caused to another person’s property through your motor vehicle accident, including a fence or landscaping.
PIP coverage, known as no-fault coverage, is a crucial part of the insurance mix. In Florida, car owners are required to have a minimum of $10,000 in PIP insurance, although there are some recommendations that the coverage extend higher. PIP insurance will cover medical bills for the driver, family members and anyone who was a passenger in the vehicle when the accident occurred. The “no-fault” relates to the claim’s payout: A PIP claim in Florida is designed to be paid regardless of fault, or in legal terms, legal liability. The goal of the coverage is to reduce payment delay for injured drivers, as well as limit the utilization of the court system.
However, there are strings to Florida’s Insurance No-Fault Rule . What is hardly ever revealed to Florida motorists is that the $10,000 PIP benefits commonly only apply to medical expenses, lost wages, and other limited reimbursable expenses. If you are injured you are not entitled to $10,000 in your pocket.
It is unfortunate that those injured in car accidents misunderstand PIP law and the way it influences their personal injury settlement. Even worse: Most lawyers don’t understand the nuances of PIP law because of its continuous change.
If you think you can do without PIP coverage, think again: The fine for driving without PIP insurance in Florida is at least $150 for the first offense. If you let your insurance lapse a second time within three years of the first lapse, there is a reinstatement fee of $250. And if you really like to pay fines, and let the insurance lapse a third time within three years, the reinstatement fee goes up to $500. You may also lose your driver’s license.
So make certain you are covered before you go out on the road, and if a crash occurs, that you are in the hands of a well-educated and experienced legal team who will help you to secure the best result in your insurance claim. http://bit.ly/1Ux6mDM
