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Florida No-fault Insurance - 3 Facts You Don't Know
Florida is a No-fault state when it comes to auto insurance
. The principal idea behind the No-fault insurance law is to compensate the insured party in a car accident, irrespective of who is at fault. Needless to say, the amount paid out by insurers is up to the limits of the insurance plan.The minimum limits mandated by law are $10,000 of personal injury protection (PIP) and $10,000 of property damage liability (PDL). It is not hard to see that in case of a serious accident, when you would need your insurance the most, these limits will hardly be enough. Its strongly recommended to purchase cover well above the required minimum.
The basic information aside, here are 3 things you may not realize about Florida No-fault Insurance.
1. You can still sue the at fault person - Its wrong to presume that you cannot take the at fault driver to court because of the No-fault law. Needless to say, certain conditions must be met. There are 2 types of thresholds you must know about. Death or significant disfigurement are under verbal threshold, big medical bills belong to the monetary threshold.
2. You may have to be examined independently - In order for the Florida No Fault insurance law to function properly, independent medical examination is essential. Its your insurer's right to choose a doctor and request an independent examination. If you refuse to be examined than your policy will probably be terminated.
3. Personal injury protection will not cover you 100% - Often, car owners in Florida make the presumption that Personal injury protection will cover all their expenses in a case of a car accident. In fact, PIP only covers 80% . And lets not forget the deductible amount. . Here is a quick illustration.
- Total Medical Expenses:$5,000
- Percentage payable under PIP statute:80 percent
- Benefits due but for the deductible:$4,000
- Less deductible:$1,000
- Benefits payable:$3,000
Being familiar with Florida No-Fault insurance law will unquestionably help you find the ideal policy for you. Don't rush to buy an insurance policy until you feel confident you have made the correct choice. Ask your insurance broker as many questions as possible. Comparing plans and quotes is the crucial. You need at least 3 from different insurers.
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