Our blog often discusses the best steps to take following an incident, such as a car accident or workplace injury. The actions immediately following an injury sustained by another party are often the most crucial, allowing you to gather evidence and build a case for the future. However, there are equally important steps that every driver should take before they are involved in a severe car accident. Continue reading to find out one of the most preventative measures for protecting yourself when driving on Florida roads – that is, having proper insurance.
Gap Insurance
Florida insurance requirements only specify two types of insurance – PIP (Personal Injury Protection) and PDL (Property Damage Liability). These allow for the speedy processing of medical or repair claims but sometimes lack coverage if the damages or costs are significant.
Gap insurance is an optional part of car insurance that pays the difference between the value of the vehicle and the outstanding balance of your car loan should your vehicle be totaled in an accident. Without this coverage, you will more than likely be on the hook for the remaining balance. Gap insurance is best used with the next type of insurance we will talk about, collision insurance. This ensures that you will receive compensation based on the car’s total value and the remaining balance of the loan simultaneously.
Collision Insurance
Collision protection is the next preventative measure that is becoming more and more necessary in the modern day. Collision coverage will cover the damages to your vehicle and enable you to have the car repaired entirely through your policy. Collision insurance is beneficial in situations where you are partially at fault for the crash, as the other party’s insurance will attempt to pay only a partial payout that is proportional to the fault of the driver. Personal collision coverage will make up any difference between the amount received and the car’s repair cost.
Furthermore, Florida is a state that ranks near the top of the list of most uninsured drivers on the road per capita. Driving without insurance is illegal in Florida, but many drivers around you are doing just that. This number is estimated at over 20% as of 2019. Drivers without auto coverage are more likely than insured drivers to lack the necessary funds to pay for car repairs or medical bills, so pursuing legal action against them is not always possible. By purchasing preventative collision insurance, you can guarantee that the insurance status of the other driver or any other variable will not affect your ability to get a new car or repair your current vehicle.
Florida law only requires a minimum of $10,000 for both types of mandatory car insurance. A significant accident with many vehicles might cause extensive damages that rack up a hefty bill. The good news is these situations can be avoided by adding collision coverage to your auto insurance policy. While nobody is thrilled with the prospect of adding to their monthly premium, it will be far less expensive than paying for repairs out of pocket should an accident occur.
These preventative steps are the best way to prepare yourself for the future. Relying on others to do the right thing can leave you with a large bill, even if the accident was not your fault.
If you have been in an accident and believe you deserve restitution from the other driver, call the law firm of Probinsky & Cole. We will discuss your case’s merits and advise you on the best course of action.
