Automobile insurance is legally required for any state of Florida resident driver.
Personal Injury Protection PIP – Property Damage Coverage PD – Physical Damage Coverage – this are some of the coverages for automobile Insurance.
PIP/PD Personal Injury Protection – Property Damage Coverage.
Personal injury protection is often found under the alternative name “FL no-fault insurance.” A Personal Injury Protection coverage is design to protect you in case of an accident, no matter whom was at fault. It can also extend to cover your family and other passengers, provided that they do not have PIP policies of their own. Policy benefits are intended to go to medical bills incurred through injuries suffered in a car accident.
Property damage liability is the other side of the legally required coin in Florida, and it is intended to cover any property damage you cause in the event of an accident. While vehicle repair costs are unlikely to meet the $10,000 threshold, damage to private property such as a fence or government property in the form of light poles or electricity transformers could very well exceed the benefit. Property damage liability does not cover damage to your own vehicle and property.
Physical Damage Coverage (Comp/Coll)
Physical damage coverage is typically sold under a package, this overages complement each other, in other words, there can not be Comprehensive without Collision coverage in a policy. These coverage are intended to protect the driver’s vehicle.
Collision insurance is intended to pay a benefit in the event of a crash while Comprehensive policies pay for repairs resulting from non-collision events such as storm damage, flood, theft, falling objects, etc,. Some drivers opt to purchase specific fire and theft policies rather than full comprehensive in their car insurance policy.
“Essentially, this form of insurance covers the other party if you are found to be at fault in an accident. By purchasing adequate BI coverage, you can protect yourself against a devastating lawsuit in the aftermath of a serious accident.”