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What Insurance Policies Should I Get To Protect Me During A Sarasota Accident?

We purchase auto insurance for two primary reasons. The first is to protect our interests if we are in an accident. The second is to protect others if we cause an accident. In the state of Florida all drivers are required to have auto insurance. Florida mandates that drivers carry a minimum of $10,000 in property damage liability (PDL) and $10,000 in personal injury protection (PIP). Although this is enough coverage to allow you to drive, it is not enough to protect you in the case of an accident.

Insurance Is Complicated

Unfortunately, automobile insurance is very complicated. So even informed drivers may not know exactly what they are purchasing. Even worse, they may believe they have more protection than they do until they get into an accident and learn it is not enough. In order to prevent this, we are going to provide a simple guide to insurance coverages from the perspective of accident attorneys. These are the coverages that we have seen offer a lot of protection to both the at-fault driver and their victim. The amount you purchase of each coverage depends entirely on your budget, but we will also recommend coverage limits to serve as a marker.

PIP, $50,000: Though the state of Florida only mandates $10,000 in PIP. PIP is a really useful insurance coverage to have for a couple of reasons. First, medical care is extremely expensive and $10,000 will not go very far. Secondly, PIP is a no-fault insurance, meaning that it does not matter if you caused the accident or were a victim, it will still go to pay the medical bills.

PDL, +$40,000: PDL covers the cost of damages to the other vehicle if you are at fault for the accident. The $10,000 mandatory limit would certainly be enough to cover any basic repairs. However, if you have totaled the vehicle, it would be good to have the full value in coverage. The average cost of a new vehicle in the United States is $40,000. This amount of protection in general will be enough to cover a totaled vehicle.

Bodily Injury (BI), 100/300: Bodily injury is a liability insurance that covers any injuries you cause to other parties in an accident. As medical costs are very high, a 100/300 policy is recommended. This means that you will have $100,000 for one person’s injuries and $300,000 total for all injured parties.

Underinsured Motorist (UIM), 100/300: UIM is a really important coverage because it will pay for the expenses that go above the other driver’s limits. Since Florida has low insurance requirements, many drivers do not have enough insurance to cover the full cost of an accident. UIM will ensure you’re protected no matter what insurance policy the at-fault driver has purchased.

Uninsured Motorist (UM), 100/300: The state of Florida has one of the highest rates of uninsured drivers. In fact, more than 1 in 5 drivers do not have car insurance. UM is a coverage that will protect you if you are hit by an uninsured driver. The policy limits work just like BI and UIM and will protect you and your passengers if you are hit by an uninsured Florida driver.

If you have these policies, you will be protected in an accident. If it is in your budget, you should also consider adding comprehensive (comp) and collision (coll). Comp/Coll is also known as “full coverage” insurance and will pay for any damages regardless of the details of the accident.

Having these auto insurance coverages will help protect you in an accident. However, if you are in an accident in Sarasota, the team at Goldman, Babboni, Fernandez, and Walsh are always here. We’ll fight hard to ensure that you get the compensation you deserve after an accident.

Stephen M. Fernandez developed a strong belief in justice and fairness in public policy while earning his Political Science degree prior to attending law school. Since joining the Florida Bar Association in 2004, Stephen Fernandez has combined his background in public policy, business administration and civil law to serve as a highly effective trial lawyer fighting for Florida's injured, working hard every day to make sure his clients get what they are owed.

What Insurance Policies Should I Get To Protect Me During A Sarasota Accident?

Goldman Babboni Fernandez
Murphy & Walsh

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