For anyone who has been in a car accident, there are steps to take immediately after it has happened.
However, many might not know that there are actions to take BEFORE an accident occurs.
Here are three things to know about car insurance that is needed before an accident, according to the Law Offices of Stephen A. Smith.
What is the minimum insurance required?
In Florida, the minimum required insurance is $10,000 in Personal Injury Protection (PIP) and $10,000 in Property Damage Liability (PDL). PIP covers 80% of all necessary and reasonable medical expenses up to $10,000 resulting from a covered injury, no matter who caused the crash. PDL coverage pays for damage to another person’s property caused by you or someone else driving your insured vehicle.
What is Bodily Injury Liability insurance?
Bodily Injury coverage pays for the injury to the body of the person hurt by a negligent driver. However, since BI insurance is not required, many people do not carry the coverage and when they accidentally injure someone, they are unable to fully compensate them for their out of pocket medical expenses and other personal injury damages.
What is Uninsured/Underinsured Motorist (UM/UIM) insurance?
UM or uninsured motorist insurance covers you in the event the at-fault driver has no BI coverage to pay for your injuries. In most cases, even if the at-fault driver has BI coverage, it is an inadequate amount to cover all of your damages, including past and future medical expenses, lost wages, pain and suffering, loss of enjoyment of life, loss of consortium, etc. In this case, UIM or underinsured motorist coverage would apply and your own insurance will provide protection even if the at-fault driver does not have enough insurance to do so.
Visit this website to learn more about insurance needed and other steps to take before a car accident.