Insurance Policies For Florida Motorists
- My car was stolen and found totaled.
- Someone stole my car and caused a pedestrian accident?
- Will my insurance policy cover the damages caused to other vehicles or property if my car was stolen?
- Will my insurance policy pay for the damages to my car or truck caused by a hurricane?
- Who will cover for the damages to my car in a parking lot accident?
Perazzo Law reminds motorists and registered vehicle owners in Miami-Dade and Broward, that Florida Law dictates that every vehicle carry Personal Injury Insurance (PIP) insurance coverage to operate a car, motorcycle, scooter, or truck in Miami and Florida. (SEE PIP INSURANCE) Registered vehicle operators and/or owners that can opt for other types of insurance policies which offer greater advantages when involved in a car, truck, motorcycle, or ATV accident in Miami. Perazzo Law shares the best practical insight into understanding the ten types of insurance policies offered by insurance providers in Miami.
- BODILY INJURY LIABILITY INSURANCE (BI): Though not legally required under Florida Law, Bodily Injury (BI) is recommended to those that can afford it as it 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. The insurance company covers the injured party's medical expenses, lost wages, or funeral expenses. 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 compensation for the medical bills, lost wages, funeral expenses, or legal fees resulting from the car accident. Thus, the driver at fault will not have to go into his/her pocket to pay for the injuries. How much would BI cover in the event of inflicting personal injuries upon another motorist? Nevertheless, this all depends on many factors. First, the vehicle model and original price paid the policy owner’s annual income, home equity, and more. For further information on how much BI covers those injured parties by a car accident in Miami caused by the policyholder, contact an insurance provider or contact our Miami or North Miami Beach office staff for a FREE initial consultation.
- 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.
- COLLISION: Most often, vehicles that crash in Miami, either into other vehicles or objects such as; trees or light-poles, 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.
- COMPREHENSIVE INSURANCE: Comprehensive insurance is not mandatory for registered vehicle owners in Miami, thus each vehicle owner can choose whether or not to insure their vehicle with comprehensive insurance. It provides coverage for a vast range of incidents that may cause damage to vehicles. These may include damage brought-on by vandalism from personal vendettas or civil unrest, damage from hurricanes or hailstorms, and even collisions with other vehicles, pedestrians and even animals. The latter, cause a number of accidents on Miami streets, as well as bicycle riders and roller skaters. Dodging them when they are negligent is the duty of a motor vehicle operator. In other words, a Miami motorist must take evasive measures to avoid running into or over pedestrians, bikers, riders, animals, etc. 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 practically fully protected against any kind of accident in Miami and Florida. Perazzo Law highly recommends Comprehensive Insurance Coverage for vehicles with high market or sentimental value, such as in antique cars. Covers your car for everything that isn't related to an accident caused by the owner.
- 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. 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. 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 office staff ONLINE for a FREE initial consultation.
- PERSONAL INJURY PROTECTION (PIP): In Miami, Perazzo Law informs Miami and Florida residents that PIP insurance is mandatory for registered vehicle owners and operators in the State of Florida. PIP insurance covers medical expenses to the injured parties in the insurance policy holder's vehicle equivalent to the sum of $10,000 payable to victims of a car accident in Miami or Florida. It may go towards covering lost wages, damage to property, and more. Ideally, PIP in Miami is paid without regard to who is legally responsible for the accident. In most cases, the insured driver or owner of the vehicle presents the claim to his/her insurance company. 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. One of our professional 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.
- 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 a number of 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, Perazzo Law suggests consulting an insurance provider or contacting our Miami or North Miami Beach office staff ONLINE for a FREE initial consultation.
- UNDER-INSURED MOTORIST INSURANCE (UIM) and UNINSURED MOTORIST (UM): Florida law states that all registered motor vehicle owners have at least $10,000 (PIP) in motor vehicle insurance to protect either themselves or other motorists, individuals, or property in the event of a car accident. Though, PIP insurance is mandatory according to Florida Law, many times $10,000 is not enough to cover medical bills, property damage, loss, or even wrongful death, especially in an accident that causes severe personal injury, property damage or loss. If the Miami car accident and the injuries are caused by an under-insured motorist, one that only has PIP coverage, then the negligent party may be faced with real difficulties in a car accident claim for compensation brought on by the injured party. UMI is of extreme added value to registered vehicle owners that allow others to operate their vehicles for commercial purposes. If a motorist fails to have UMI and falls victim to an uninsured or under-insured motorist then, he/she will be liable to cover his/her own medical expenses. UNINSURED MOTORIST (UM): UM coverage aims to protect you, family members, and third party individuals that do not own a motor vehicle and are injured, suffer property damage, loss, or wrongful death provoked by a motorists or vehicle owner that does not have insurance. Under State law, it is not mandatory for drivers to have bodily injury coverage, thus it provides the option to grant added protection to motorists in the event or property. Damage, personal injury, or loss as a result of a car accident in Miami which involves an uninsured or under-insured vehicle owner, the uninsured driver will face criminal charges for driving without insurance. Again, it is mandatory for registered vehicle operators to have PIP insurance to drive on Florida highways, Miami roads and streets.
- UMBRELLA INSURANCE POLICY: 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. The ultimate reason for having Umbrella Insurance coverage in Miami is to safeguard the policy owner’s assets from a accident claim for compensation for injuries or death in tragic accident that occurs on the policy holder's premises or in the policy holder's motor vehicle. In Miami, Perazzo Law knows 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 how much your net worth is 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. 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 provider or contacting our Miami or North Miami Beach office staff ONLINE for a FREE initial consultation.
- 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, Perazzo Law 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 the each policy holder's MedPay plan, accident victims may be covered from $5,000 - $100,000 in compensation for medical expenses.
There are a number of motor vehicles that do not require insurance coverage under Florida Law. Some of them include:
In Miami, Perazzo Law informs motor vehicle operators and victims of negligence such as reckless driving, drunk driving, hit & run, speeding, etc. that even though Florida Law dictates that mopeds, off-road quads, scooters, etc., aren’t legally required to have insurance in case of an accident. Perazzo Law highly recommends 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. 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.
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 you are covered in the event of an accident.
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