Seven Car Insurance Policy Tips – Lulich & Attorneys

Seven Car Insurance Buying Tips

When determining your car insurance policy, it can often be quite tedious. Our firm suggests the following six tips when taking into consideration the different coverage you can elect for on a policy. We can also advise if you wish for one of our experienced staff members to review your policy.

  1. You must have it! –In Florida, the law requires that each driver has car insurance. The law sets out a $10,000.00 minimum requirements for Personal Injury Protection (PIP) and Property Damage (PDL).
  2. Compare auto insurance quotes annually. – Our firm advises whether you are getting insurance for the first time, or you are just doing an annual car insurance comparison, to obtain at least three different quotes.
  3. Elect for Coverage for Uninsured and Underinsured Motorists. – The Insurance Research council found in 2012, one out of every eight drivers was uninsured. This coverage protects you if you are involved in an accident with one of these drivers. If you do not have uninsured coverage, then you put yourself at risk to pay for your medical and property expenses.
  4. Buy Medical Payments Coverage. – Medpay generally covers expenses that your PIP does not. Personal Injury Protection (PIP) covers up to 80% or $10,000 of an injured’s expenses. If the medical bills are $10,000, PIP only covers $8000. Therefore, med-pay coverage would cover the additional $2,000 not covered by PIP.
  5. The minimum liability coverage may not be enough. – We suggest that the insured’s elect for Bodily Injury Protection (BI). BI is used when a driver hits someone else, and you are being sued. This insurance option will pay for medical expenses, pain and suffering, lost wages, and similar harms. The minimum amount you can elect to purchase is $10,000.00.
  6. Look for Discounts. – There are several discounts that insurance companies offer. Safe driving is an often discount that grants a discount to drivers who have not been involved in an accident. Good school grades are another common one for students who keep a certain GPA average. Be on the lookout for different types that the insurance companies offer!
  7. Liability Limits. – An insured’s liability limits are on a per accident basis. This means that for each accident, your insurance policy will pay up to the designated amount in your policy. Therefore, if you are involved in three accidents in the same year, and have $25,000 in bodily injury coverage, then this amount will be applied for each accident.
  8. You may be liable! – If you are involved in an auto accident, and do not have enough liability coverage, you may be on the hook for the excess property damage. In such an instance, you cause $50,000 in property damage, and only have $25,000 in liability coverage, then you may be sued for the other $25,000 personally.

Free Consultations Today

If you have any questions about what type of insurance coverage you should have, contact our offices today. We will be happy to guide you through the process of protecting yourself. Free Consultations (772) 589-5500.