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Why insurance may not be enough after a Florida car wreck

On Behalf of | May 18, 2022 | Auto Accidents

Most drivers understand that insurance protects them in the event of a crash. However, they may not realize the limitations of the coverage available until it is too late.

Every driver in Florida should carry a motor vehicle insurance policy that provides the combination of liability coverage and no-fault coverage. Depending on the policy you have and the policy carried by the other driver, you may discover after a crash that the insurance available is not enough to cover the repairs to your vehicle, hospital bills or lost wages.

Why does Florida car insurance leave people with bills?

Despite using a hybrid model that includes liability and no-fault coverage that makes insurance costs in Florida quite high compared to the rest of the nation, the mandatory coverage isn’t that much.

The average driver may have as little as $10,000 in no-fault personal injury protection (PIP) and just $10,000 in property damage liability protection. When you are not the one at fault for a crash, you will have to make a claim against your coverage and the coverage of the other driver.

Your PIP protection will help pay for your medical costs and possibly any costs incurred by the passengers in your vehicle. The PDL covered by the at-fault driver will help pay to repair your vehicle or purchase a new one. Unfortunately, the cost of a replacement vehicle could be far more than the property damage coverage available, and the injuries you suffered could cost you far more than $10,000 in treatment and lost wages.

How do you protect yourself from insurance shortfalls?

One of the best ways to protect yourself from insurance leaving you with a big gap in coverage is to invest in a robust policy. You can pay for it as much coverage as you deem necessary. You can also add underinsured motorist protection that can help if your losses are higher than what the other party’s insurance will pay.

If you don’t have that coverage at the time of the crash, then your best option to recover the financial losses caused by the wreck may be to bring a personal injury claim against the driver at fault for your Florida collision. When you collect financial records showing how much it cost you to fix your vehicle or how long you were out of work and compare that to the coverage carried by the other driver, you may be able to convince the court to award you damages for your current and possible future expenses.

Understanding what protections you have for Florida car crashes can help you limit the long-term financial losses you suffered because of a collision.