It looks like it might be apparent, however no-fault insurance coverage isn’t so simple as it sounds…
Florida, like a handful of different states, is a no-fault state with regards to automobile accidents and insurance coverage. Whereas it’d sound apparent, many drivers are literally confused about what the no-fault legislation is and the way it pertains to your automobile insurance coverage.
No fault insurance coverage doesn’t check with neither driver being at fault in an accident. Slightly, it means all drivers will need to have no less than $10,000 of Private Harm Safety (PIP) as a part of their automobile insurance coverage coverage, and that’s what they’d use first to cowl medical bills—irrespective of which driver prompted the accident.
Learn on to study extra about no-fault insurance coverage so you understand how it protects you and what the restrictions are.
When you’re in an accident, even if you’re not at fault, in case you require medical consideration, your individual PIP protection would set off first to cowl your bills.
It might sound counterintuitive to have to make use of your individual insurance coverage when the opposite driver is at fault, however the objective of the no-fault legislation is to expedite medical therapy somewhat than anticipate insurance coverage firms to debate who must be paying for what.
Medical bills lined can embrace emergency room visits, ambulance rides, specialist visits, rehabilitation prices, and extra. Your PIP will cowl 80% of your medical payments as much as a complete of $10,000 (if that’s the protection quantity you chose), however that isn’t essentially the quantity you’ll obtain. The utmost quantity is decided by the severity of your accidents and the medical therapy wanted.
It could additionally assist cowl misplaced wages in case you’re unable to work for a time period and dying advantages.
Florida’s 14-day accident legislation additionally performs an enormous position in no-fault insurance coverage.
This legislation stipulates that accident victims should search medical therapy inside 14 days of the accident for his or her PIP protection to use. Which means even in case you don’t see or really feel any main accidents instantly after your accident, it’s a sensible concept to see a physician to uncover any hidden accidents that will develop within the following weeks or months.
PIP will be very useful in getting your medical bills lined rapidly, however in case you’re concerned in a extra extreme accident, no-fault insurance coverage has limitations.
First off, your no-fault insurance coverage is proscribed to private accidents, to not property harm. It additionally solely covers your individual private accidents and medical bills. An exception to this rule will be resident relations, however make sure that to verify your particular person coverage to know the precise protection that you’ve got and to whom it applies.
If there are passengers in your automobile injured within the accident, your PIP will usually not cowl their bills. As an alternative, totally different coverages would come into play, corresponding to their very own PIP (PIP follows the individual, not the automobile) third occasion Bodily Harm Legal responsibility, Uninsured Motorist Legal responsibility, and others.
Bodily Harm Legal responsibility is not required for all drivers in Florida, however it’s extremely really helpful. It could assist cowl medical bills for injured third-parties whenever you’re at-fault, and it might additionally shield you within the occasion you’re sued due to an accident.
Your PIP protection additionally relies on the quantity of protection you choose in your coverage. In case your medical bills exceed your coverage’s restrict, you’ll both must pay the remaining prices out-of-pocket, use your medical health insurance, or sue the at-fault driver for the damages.
In case you are decided to be the at-fault driver, the no-fault insurance coverage legislation has some advantages for you.
For starters, within the occasion of minor accidents involving damages beneath the relevant PIP restrict, you aren’t chargeable for the medical bills of the opposite driver (except that restrict is exceeded both in apply or by authorized demand). And similar to the opposite driver, you received’t have to attend to listen to again out of your insurance coverage agent about receiving advantages to cowl your individual medical bills.
The no-fault legislation is supposed to eradicate lawsuits and expedite medical therapy and advantages for many minor accidents, and it applies to each drivers equally.
One of many main drawbacks of the no-fault legislation for each drivers is that these states are inclined to have larger insurance coverage premiums than different states.
Whereas Florida’s no-fault legislation requires a minimal quantity of protection for all drivers, your private insurance coverage wants are distinctive to you. That’s the place an impartial insurance coverage company like Harry Levine Insurance coverage is available in.
We give you the results you want, not the insurance coverage firms, so we are able to create a customized auto coverage that completely suits your communicated wants and your personally chosen funds. We’ll educate you on the protection that we advocate for you based mostly in your life-style, not solely the state’s necessities.
Contact us at this time to get your auto insurance coverage questions answered or get a free, customized quote immediately.
