There are many different policies to consider when it comes to your car insurance. There’s uninsured motorist coverage, gap insurance, medical payments coverage, and more. A crucial policy everyone should understand is no fault insurance.
No-fault insurance, also known as Personal Injury Protection (PIP) in Florida, is a type of auto insurance that helps cover medical expenses and lost wages due to a car accident.
From its name, no fault insurance might give you the wrong impression if you aren’t quite sure what it means. It is actually a type of auto insurance that covers your medical expenses and lost wages resulting from a car accident, regardless of whether or not you were the at-fault driver in the accident.
PIP can also provide compensation for death or disability caused by an automobile accident, and in Florida, it is required as part of your auto coverage.
Read on to learn more about the no fault law in Florida and how it affects your car insurance.
Why Was No-Fault Insurance Implemented in Florida?
No-fault insurance was implemented in Florida to reduce the burden of claims on the court system, and so those in need of medical attention wouldn’t waste time determining who was to blame and who would pay.
This allows those injured in an auto accident to receive prompt medical attention and begin the recovery process without delay. All Florida drivers must have a minimum of $10,000 worth of PIP and $10,000 worth of property damage liability as part of their auto insurance policy.
This means that if you are involved in an accident, your insurance company will pay up to $10,000 of your medical expenses and up to $10,000 worth of property damage even if you were not at fault for the accident.
In most cases, if you were not the at-fault driver, your insurance rates will not increase because of an accident thanks to no fault coverage.
If you are found to be at fault for the accident, no-fault coverage will still provide coverage for medical expenses and lost wages up to the limits of your policy without requiring you to pay any additional costs out of pocket.
No-fault insurance comes in handy if you’re in a serious accident and can’t wait to seek medical attention, but it is also one factor that makes Florida one of the nation’s most expensive states for car insurance.
What Does No-Fault Insurance Cover?
No-fault insurance in Florida covers medical bills and lost wages up to the limits of your policy. It also provides compensation for death or disability caused by an automobile accident.
Medical cost covered by PIP includes:
- Ambulance rides
- Doctor’s visits and medical exams
- Hospital stays
- Diagnostic tests (like X-rays or bloodwork)
- Surgeries
- Prescription medication
- Rehab
The coverage limits vary depending on the policy, so it is important to review your policy limits before signing up for coverage.
Keep in mind that no-fault insurance does not cover any non-medical costs or damages associated with an accident such as pain and suffering, car repairs, and other out-of-pocket expenses.
Also, your no-fault insurance may not be enough to cover all of the costs associated with an accident. It is important to supplement your coverage with additional auto insurance policies to protect yourself from unexpected expenses.
An independent insurance agent can be very helpful in helping you find the right amount of coverage, so that you’re protected whether you’re at fault or not and no matter what amount of coverage the other driver has.
Make Sure You Have Enough No-Fault Coverage
When it comes to insurance, rising costs are an issue for everyone, but the last thing you want to do is cut coverage for costs.
That’s where experienced independent insurance agents come in handy.
At Brown Insurance Services, we help you understand what the insurance requirements are and how you can get the best coverage for a price that fits your budget. From uninsured motorist coverage to rideshare insurance, we’ll make sure you understand what coverage you need and why.
Call Brown Insurance today and make sure you’re protected behind the wheel.
