YOUR INTERESTS FIRST
Insurance Policies For Florida Motorists - Personal Injury Lawyer in Miami
- What insurance policies are available and how do they protect me?
- My insurance doesn't cover the extent of the damages to my car.
- The medical bills exceed my insurance coverage.
- The other driver's insurance fails to cover my medical bills.
- I'm looking for an insurance policy that offers the best coverage.
In Miami, the Perazzo Law Firm reminds motorists that carrying insurance is fundamental and mandatory in Florida to help cover the financial implications that come from personal injury, property damage, losses or wrongful death as a result of a motor vehicle accident in Miami-Dade or Broward. Thus, it is very important for registered vehicle owners to know what kind of insurance coverage they carry and what their insurance policies cover in the event of an accident that results in injury, damage, losses or wrongful death. Having an experienced personal injury lawyer that is dedicated to their client’s best interest is fundamental for dealing with insurance claims for compensation following a motor vehicle accident in Florida.
What kind of insurance do you have and how does it cover your best interests?
THE PERAZZO LAW FIRM HIGHLY RECOMMENDS VEHICLE OPERATORS TO CARRY ONE OR MORE OF THE TEN INSURANCE POLICIES AVAILABLE TO REGISTERED MOTOR VEHICLE OWNERS IN MIAMI-DADE AND BROWARD COUNTIES.
THE CAR ACCIDENT ATTORNEYS AT THE PERAZZO LAW FIRM BREAKDOWN THE TOP TEN INSURANCE POLICIES FOR VEHICLE OWNERS IN FLORIDA.
THE TEN BEST INSURANCE POLICIES
Uninsured / Under-insured Motorist Insurance
Bodily Injury Liability
Guaranteed Auto Protection Insurance (GAP)
Car Rental Insurance
Property Damage Liability Insurance (Mandatory)
Personal Injury Protection Insurance (Mandatory)
THE PERAZZO LAW FIRM EXPLAINS THE TOP TEN INSURANCE POLICIES FOR VEHICLE OWNERS
10. UNINSURED MOTORIST COVERAGE (UM): The Perazzo Law Firm Staff of Car Accident Lawyers believe that Uninsured Motorist Insurance (UM) is the most important insurance policy for motor vehicle owners. The reason being that there are many uninsured and under-insured drivers on the road and UM covers you if the other driver does not have insurance coverage or doesn't have enough coverage to compensate you in the event of personal injury, property damage, or injuries to your loved ones. In fact, Florida ranks in the top-five when it comes to the highest number of uninsured motorists on U.S. roadways and city streets. The Perazzo Law Firm reminds you that your PIP will only cover a certain amount of medical bills and does not contemplate your pain and suffering and amounts in excess which could easily occur in a severe crash. For example, facial injuries from an airbag, or shoulder injuries, brain trauma, or wrongful death. Medical bills to cover facial injuries, fractures, or breaks, can easily exceed $100,000. Should you only opt to carry the basic coverage policies (PIP and PD) they will not cover the costs of treating severe injuries or contemplate pain and suffering, lost wages, and or any vehicle damages. Hence, you will find yourself having to foot the bill to cover things that were not your fault. In order to protect against such a situation, these insurance policies must be offered to you by your insurance carrier and you must either elect to reject or accept the coverage. In order to purchase UM or UIM (Under-Insured Motorist) coverage t he motor vehicle owner must carry Bodily Injury Protection insurance (BI). Typically, insurance providers submit the BI contract to you with the box already completed. Our car Miami accident attorneys believe this is because UM insurance is of extremely great value for the price. If you think about it, the insurance company knows everything about you; where you live, what you do, where you work, your credit score, and other information that they can use to determine the risk or chances of you causing an accident. They cannot, however, gauge the risk of someone else crashing into you or causing an accident. Since this insurance premium is dictated by Florida law, UM is far less expensive than the mandatory insurances and riskier for the insurance company, they typically do not offer to openly or explain the importance of it to motorists. While you typically need to get bodily insurance to unlock uninsured motorist coverage. The Perazzo Law Firm highly recommends that motor vehicle owners carry uninsured motorist coverage (UM) or Under-insured motorist coverage (UIM) as it could potentially save you from a lifetime of financial burden brought about by someone else’s negligent or fault. It is also a valuable insurance coverage to have in the event of a hit and run accident. When combined with PIP and PD, UM will cover your pain, suffering, lost wages, and any other losses in line with the amount purchased. The Perazzo Law Firm informs motor vehicle owners that there are two types of UM coverage: STACK and UNSTACKED. The latter is placed on each of the vehicles that you own, be it one of three or all three vehicles, no matter on how many vehicles you own though the cover each vehicle separately, you will not be covered if you are a passenger in another person’s vehicle. However, the UM will only cover when operating said vehicle being driven at the time of the accident. Stacked UM coverage covers you and those stipulated on the insurance coverage policy as well as your household family members regardless of the vehicle those insured were in at the time of an accident. It is called stack because if you own more than one vehicle and you carry this policy on multiple vehicles the coverage accumulates according to the number of vehicles in the policy. For instance, three vehicles carrying a $100K policy would mean that you have $300,000 in coverage with which to cover injuries or losses for everyone in the STACK UM policy. The Perazzo Law Firm hopes this helps clarify the role and importance of UM insurance and what it means to you and your loved ones. This is not an exhaustive explanation as there is much more to fully understanding UM.
STACKED AND UNSTACKED UM COVERAGE
When an insurance policy holder requests UM from their insurance provider, they can opt for Stacked or Unstacked. Stacked UM coverage can be added on each of the vehicles the policy holder owns but will cover each vehicle individually and will cover the vehicle being operated at the time of an accident. It also covers the vehicle owner and those stipulated on the policy. Stacked UM elevates the coverage limit in the event of an accident and is recommended for those that own several private vehicles or a fleet of commercial vehicles. Furthermore, stacked UM covers the policy holder in the event of an accident in another person's vehicle, either as a driver or passenger. Stacked UM can also be combined to elevate the amount payable for injuries, damages, and/or losses sustained in an accident.
Unstacked UM coverage is more often purchased when a policy holder wishes to add UM to one vehicle rather than two or more. Unstacked maxes-out at the limit you set and purchase as stipulated on the policy. Unstacked UM insurance is also less expensive than stacked UM coverage as it does not apply to vehicles not on the policy.
9. BODILY INJURY LIABILITY INSURANCE (BI): Though not legally required under Florida Law, Bodily Injury (BI) is recommended to those that can afford it as bodily insurance provides the insured party with financial coverage in the event he/she is responsible for the personal injury or wrongful death to passengers or individuals. Basically, it covers your Assets should you cause an accident. This is very important because it could be the difference between putting a down payment on your house of paying for someone else’s medical expenses. If you are a victim in a motor vehicle accident, this is the insurance from which your car accident lawyer would seek compensation for your injuries, damages or lost wages. BI also provides financial coverage for legal fees in the event the policy holder is taken to court for further legal action because of an Insurance Claim. In other words, if you, a family member, or loved one suffers personal injury in a car accident, and the policy holder has BI coverage, you are entitled to seek compensation for the medical bills, lost wages, funeral expenses, or legal fees resulting from the car accident. Thus, the driver at fault may not have to go into his/her pocket to pay for the motor vehicle accident victim’s injuries. BI may be mandatory in some cases where the owner of the vehicle is financing or leasing a vehicle and the financing company requires this coverage. BI is sold differently than other insurance coverages as it is sold in two parts; maximum per person and a maximum total. Sometimes a policy may be sold as $100K / $300K or $10K / $20K. The first figure represents the maximum amount payable per person and the second figure represents a maximum total to be paid out per accident. UM works in a very similar manner. For more in-depth information on BI coverage, contact an insurance provider or contact the car accident attorneys at the Perazzo Law Firm for a FREE initial consultation.
8. UMBRELLA INSURANCE POLICY: Though not very popular, an Umbrella Insurance Policy provides added liability insurance (to your homeowner policy) used to safeguard the policy holder in the event of extraordinary claims and lawsuits by injured or deceased parties from car accidents in Miami and Florida for which the policy holder is held legally liable. In addition to your normal car or home insurance policy, which will cover you beyond what you purchased that policy for. The ultimate reason for having Umbrella Insurance coverage in Miami is to safeguard the policy owner’s assets from an accident claim for compensation for injuries or death in tragic accidents that occur on the policy holder's premises or due to the policy holder's motor vehicle. In Miami, the Perazzo Law firm’s accident attorneys know that an accident that finds the vehicle owner responsible for personal injury, property damage, loss, or wrongful death, places the guilty party's assets at stake. Thus, umbrella coverage can also be referred to as extra liability insurance that aims to protect the policy holder from any sort of danger to his/her assets in the event he/she is brought to trial for negligence in an accident claim for compensation in Miami and Florida. Umbrella policies are common among those that possess a considerable amount of assets and savings which may be at risk in the event of extreme liability claims on behalf of injured parties. In other words, if you, a friend, or loved one has considerable assets and wish to protect them from individuals filing legal action for whatever reason, get umbrella insurance. However, most insurance providers require policy holders to have at least $1 million is assets to qualify to an umbrella insurance policy. How much umbrella insurance coverage you need depends on how much your net worth is and how likely are you to take part in activities or carry out actions that could lead to serious personal injury, damage, or death to third party victims. Jonathan Perazzo suggests carrying an umbrella policy worth One million dollars, which may seem like a lot of money but following a serious accident, one-million dollars in coverage may fall short of fully compensating accident victims in the event of serious injury or wrongful death. To receive further information on how Umbrella Insurance Policies work and to determine how they protect both injured parties and the policy holders, the Miami-based Perazzo Law Firm suggests consulting an insurance company representative. You can also consult our Miami or North Miami Beach office staff ONLINE for a FREE initial consultation. It’s called an Umbrella policy because it covers basically everything.
7. COLLISION: A vehicle which crashes into object such as trees or light-poles, will experience damage, be it a busted headlight, windshield, deployed airbag, or even total destruction. Collision insurance helps cover the cost of the vehicle owner’s repairs or replacements of the parts needed to replace those damaged in an accident. Some vehicles lose control while driving at high speeds on the highway and rollover, most often sliding out of control into steel guardrails or cement dividers. When this happens, collision insurance helps pay for the damage to the vehicle. Most often, leased or financed vehicles must have collision insurance until their car, truck, motorcycle, etc., is paid for in full. Collision insurance is very useful to have for those driving expensive cars that may be prone to driving aggressively on Miami roadways and streets. However, collision insurance does not cover against theft and hit and run accidents, damage to other vehicles, or damage resulting from severe weather conditions that provoke fallen trees or objects, nor does it pay for medical bills in the event of injuries from the accident. The Miami-based Perazzo Law Firm reminds collision insurance policy holders that this policy has a coverage limit, usually based on the value of the vehicle after the accident and not its market value before the accident. Most of our clients are eager to get back on the road as quickly as possible after an accident. If you do not carry collision coverage, getting back behind the wheel of your vehicle may take longer as the other motorist’s insurance provider has a duty to their insured and will attempt to investigate the accident in order to determine fault and evaluate the extent of damages, and verify if there are grounds for a possible compensation settlement. The delay by the insurance provider will most often include checking police reports, inspection of the motor vehicles partaking in the accident, and so forth. Carrying out the investigation and gathering information will take time, which can be adverted if you carry collision coverage. If you’re at fault or not your car will be covered. This is of great benefit because in every accident, one of the driver’s are at fault. The Perazzo Law Firm reminds motorists that even though they may believe to be not at fault, there is a slight chance that they may be held liable for at least part of the accident. Collision coverage will cover your car regardless of fault. If you are at fault, there is no other policy that will cover your vehicle damages in the event of an accident. For more, contact insurance provider or Call (786) LAWS-411 and talk to one of our car accidents lawyers FREE of charge. If you need to get back on the road quickly, this is the coverage to have. Sending out an adjuster to verify damage may take up valuable time, which can lead to your vehicle sitting in a shop. You may have to come out of pocket and hope the other motorist is properly insured to cover the damages to your vehicle. All this slow-ups the insurance process and can be avoided by carrying collision coverage.
6. GUARANTEED AUTO PROTECTION INSURANCE (GAP): This type of insurance policy coverage offers a difference between a vehicle’s current monetary value and the amount still owed to the financial institution or company owed through a personal loan, dealer leasing contract, etc. GAP insurance is common on brand-new vehicles or trucks used for commercial purposes because their depreciation is so high in the beginning. Motor vehicle owners that wish to acquire GAP insurance can do so via two ways. Firstly, by purchasing it through an insurance intermediary or broker which is regulated by the insurance industry. Secondly, GAP insurance may be acquired through an unregulated waiver agreement purchased from a financial institution or insurance provider. In Miami, the Perazzo Law Firm reminds vehicle owners that this coverage is important because the other insurance policies discussed in this article, such as PIP or PD will only cover as much as the fair market value of the vehicle. GAP covers the space in between its market value or financial lender. For further information on GAP coverage and how it covers policyholders and third parties involved in car accidents in Miami due to negligence behind the wheel, the Miami-based Perazzo Law Firm suggests consulting an insurance provider or contacting our Miami or North Miami Beach car accident staff of attorneys ONLINE for a FREE initial consultation.
5. COMPREHENSIVE INSURANCE: Comprehensive insurance is not mandatory for registered vehicle owners in Miami; thus, each vehicle owner can choose whether to insure their vehicle with comprehensive insurance. It provides coverage for a vast range of incidents that may cause damage to vehicles not caused by negligence. These may include damage brought-on by vandalism from personal vendettas or civil unrest, damage from hurricanes or hailstorms, and even purposely caused collisions with other vehicles, pedestrians and even animals. Comprehensive coverage also serves to replace or repair vehicles after falling victim to theft; this includes any and all parts of the car. Comprehensive coverage is very common on leased or financed vehicles until they are fully paid-off. Thus, a registered vehicle owner with comprehensive coverage is very well protected against any kind of situation that leads to damage not covered by collision or property in Miami and Florida. The Perazzo Law Firm highly recommends Comprehensive Insurance Coverage for vehicles with high market or sentimental value, such as antique vehicles. This coverage protects your vehicle against almost everything that isn't related to an accident caused by the owner.
4. CAR RENTAL INSURANCE: There are insurance providers that offer added coverage to include rental cars in Miami or any other touristic Florida city. The Miami based Perazzo Law Firm considers it best for policyholders to check with their Florida insurance providers before purchasing the insurance policy car rental companies offer their customers. Contact us immediately if you have an Insurance Claim that involves a car accident in Miami while driving a rented automobile. Car rental insurance is always useful for those unfamiliar to Miami streets, highways and suburbs.
3. MedPay. Medical Payment Coverage is offered to motorists as a supplement to their current insurance policy and aims to help cover the medical expenses stemming from injuries sustained in a car accident regardless of which driver was at fault. In Miami, the Perazzo Law Firm informs motorists that MedPay helps cover the medical expenses for both the driver of the registered vehicle as well as any passengers that suffer personal injury in the car accident. Furthermore, it's important to remember that MedPay only covers the medical expenses of those that are insured and not third-party victims. MedPay will most often cover the medical expenses usually involved to a motor vehicle accident such as collisions, roll-overs, or other more severe accidents. According each policy holder's MedPay plan, accident victims may be covered from $5,000 - $100,000 in compensation for medical expenses. The medical costs that MedPay will most likely cover:
- Emergency Room Expenses
- Laboratory Studies
- X-rays- CT-scans, MRI's, etc.
- Surgical Procedures
- Hospital Stay
- Prosthetic Limbs or Implants
In Miami, the Perazzo Law Firm informs accident victims and MedPay policy holders that MedPay does not and is not meant to replace medical insurance. In the event of a car accident that involves a MedPay policy holder, the Perazzo Law Firm will amass the injured party's medical expense bills and submit them to the corresponding car insurance provider with the aim that the insurance provider cover the costs of medical treatment rendered to the accident victim or victims.
2. PERSONAL INJURY PROTECTION (PIP): In Miami, the Perazzo Law Firm informs Miami and Florida residents that PIP insurance, along with PD, is mandatory for registered vehicle owners and operators in the State of Florida. PIP insurance covers medical expenses of the vehicle owner, any individuals listed on the policy, and any relatives residing the same households, and potentially any passenger in the vehicle should they not have their own coverage under the law. PIP pays up to $2500 subject to a deductible and co-payment unless you suffered an emergency medical condition in which case you may be entitled for up to 10000 in injuries and lost wages. PIP is an extremely complicated of vehicle accident law that we urge accident victims to see PIP on our website. PIP in Miami is paid without regard to who is legally responsible for the accident. Following an accident, the accident victim visit his/her medical practitioner and signs an assignment of benefits which the doctor the right to bill the insurance provider directly on their behalf. However, there are exceptions that may apply which allow individuals that have suffered personal injury as a result of the accident in Miami, to make their own PIP claim. This was made mandatory because most accidents would cause under 10000 in damages or injuries and was meant to solve the problem of medical bills not getting paid and people suffering from reduced credit scores and accident victims fearing lack of treatment. You can seek treatment regardless of if the accident is not your fault. Basically, PIP guarantees that you can visit a doctor to receive treatment regardless of whether you have medical insurance that prevents you from receiving medical treatment. PIP though mandatory, should be supplemented with other insurance policies such as UM coverage to make sure that you are covered in the event of an accident that ends in serious personal injury or even third-party wrongful death. One of our Miami Personal Litigation or Insurance Claims Lawyers can provide all the right answers to any questions concerning PIP Insurance in a motor-vehicle accident in Miami.
1. PROPERTY DAMAGE INSURANCE: Property Damage (PD) insurance covers the damage that the policyholder causes to another individual’s property in the event of a car accident in Miami and Florida. This may include mechanical repairs, replacement parts, or damage to physical property such as gates, fences, etc. How much would PD insurance cover in the event of inflicting property damage upon another motorist’s property? There are several factors that determine the amount covered by PD. Firstly, much like in BI, the vehicle model and value at the time of purchase, its equity, the policy owner’s annual income, his/her home equity, and more. For further information on how much PD covers those injured in a car accident in Miami caused by the policyholder’s negligence behind the wheel, the Perazzo Law Firm suggests consulting an insurance provider or contacting our Miami or North Miami Beach office staff ONLINE for a FREE initial consultation.
Victims or loved-ones that suffer injuries or losses from a car accident, trucking incident, motorcycle crash, or any engine-powered vehicle, should consult the Perazzo Law Firm in Miami to find out more about what kind of insurance they have and how it protects them in the event of an accident that results in personal injury, property damage, losses, or wrongful death. In Miami, the Perazzo Law Firm strives to provide the best possible service to our clients and the Perazzo Law Firm offers ZERO-OUT-OF-POCKET costs. In Miami, the Perazzo Law Firm has the right answers to the above questions. All but one depends on the kind of insurance coverage the registered motor vehicle owner carries or holds in Florida. Comprehensive vehicle insurance coverage will basically cover all damages to the vehicle and individuals within. Whereas, PIP will only cover up to $10,000 in damages or injuries to either your or the other driver's vehicle or injuries in the event of a car accident or truck accident. Furthermore, Perazzo Law Firm reminds victims of vehicle theft and accidents, that an insurance provider may not cover damages to a vehicle that was stolen as a result of neglect, such as leaving the keys in the vehicle with the engine running.
MOTOR VEHICLES THAT FALL OUT OF THE INSURANCE SCOPE
There are a number of motor vehicles that do not require insurance coverage under Florida Law. Some of them include:
In Miami, the Perazzo Law Firm informs motor vehicle operators and victims of negligent acts such as: reckless driving, drunk driving, hit & run, speeding, etc. that even though Florida Law dictates that motorcycles, mopeds, off-road quads, scooters, etc., aren’t legally required to have insurance to operate them on Florida roadways, the Perazzo Law Firm highly recommends that the operators of these vehicles (mopeds, scooters, electric bikes, etc.,) to find out about insurance policies in the event the driver is found at fault for the accident. If legally at fault, he/she will be held legally liable for any injuries or damage bestowed upon the victim or victims of the accident. Furthermore, passengers injured as a result of negligence by either the driver of either vehicle, will need vehicle insurance coverage to compensate the accident victim or victims for personal injuries and any medical expenses incurred because of the accident. Motorcycle, moped, scooter, electric bike, etc., insurance can be purchased at low costs when compared to the cost of medical bills implied to cover for the personal injuries of another individual or someone else’s property. With regards to motorized bicycles in Miami, it is illegal for riders to operate them on Miami roadways or pavements without being equipped properly. Furthermore, operators must be 16 or older with no license required. The Perazzo Law Firm car accident and insurance claims attorneys remind motorcycle riders that they are at very high risk of suffering severe personal injury if hit by a car or truck. Hence, it is highly recommended that they carry some sort of insurance policy to help cover the medical costs incurred by an accident.
If you, a family member, or loved one has an insurance claim involving personal injury, property damage, loss, or wrongful death as a result of a motor vehicle accident in Miami or any of the Cities We Serve, the Perazzo Law Firm urges you to contact our Miami or North Miami Beach Office ONLINE or CALL (786) LAWS-411 to receive a FREE consultation to find-out more about the different types of Insurance Policies, and how drivers and passengers are covered in the event of an accident in Florida.
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