Rancho Cucamonga, CA (PRWEB) October 27, 2010
Although the overwhelming majority of states require residents to carry minimum levels of auto insurance coverage on their cars, government officials and industry experts have emphasized to consumers the fact that these minimum amounts of coverage are just that — minimum. They may not, in the event of a serious accident, be enough to completely cover them financially.
One place in which this certainly may be the case is Florida. A Florida auto insurance comparison for policies with above-minimum protection levels might be a good idea for drivers in that state, considering that its minimum requirement remains one of the lowest in the nation; automobile owners in the Sunshine State are initially required to carry a total of only $20,000 in protection. Unless a car owner has committed particular traffic violations or has proven in the past to be unable to meet financial responsibility standards, he or she needs to have merely $10,000 in personal injury protection (PIP) and $10,000 in property damage liability (PDL).
PIP exists to cover a policyholder who has been in an accident, regardless of fault, for 80 percent of “reasonable medical expenses” and 60 percent of lost wages, up to the designated monetary limit, and it also pays up to a $5,000 death benefit.
PDL pays for damage to property accidentally caused by the policyholder.
However, the state’s Department of Financial Services strongly recommends that consumers also get bodily injury liability (BIL) protection. This type of policy goes to pay for damages related to “death or serious and permanent injury” caused by a legally liable policyholder.
The minimum amount of BIL is $10,000 per person and $20,000 per accident. But, according to the Insurance Information Institute, most authorities on the subject recommend having at least $100,000 per person and $300,000 per accident.
Although that is a big jump from the state-set minimums, the cost of adding such coverage may still be kept reasonable. To learn more about the minimum insurance requirements for Florida and other states, consumers can go to http://www.onlineautoinsurance.com/florida/florida-auto-insurance-quote-comparison.htm where visitors will also be able to compare rates, free of charge, for different types of policies.