What Forms of Florida Vehicular Insurance Should We Purchase To Protect Ourselves In The Event of An Fort Lauderdale Accident? Part I

When purchasing Fort Lauderdale Automobile Insurance one should consider a variety of concerns. Firstly, an understanding of insurance in general may be helpful. It is this writer’s opinion that essentially, the intention behind obtaining insurance is to shift the risk and responsibilities associated with the possibility of having a vehicular accident to an insurance company that will agree to pay for your liabilities in exchange for a limited initial investment which is commonly referred to as an insurance premium. When an individual or business agrees to enter into an insurance contract they are essentially gambling that if a pre-determined event occurs, which is generally an undesirable event, the insurance company will pay the full amount of its agreed to liability limits in exchange for the premium purchased amount.

Insurance purchased for an automobile can provide risk benefits against damages caused to another’s property; for bodily injury; for rental benefits; for towing; for the insured’s own personal injury protection (PIP), for additional medical benefits (med-pay) or for uninsured or underinsured motorist protection (UM or UIM benefits).

The general intention behind purchasing each form of insurance benefit is the presumption that in the event of a Fort Lauderdale vehicular accident, the insurance company will protect and provide the agreed to benefits that the insured has selected.

While most Fort Lauderdale, Florida drivers are led to believe that the most important coverage is for bodily injury liability protection, most insureds are generally persuaded against acquiring the more personally beneficial insurance benefits. It is this writer’s opinion that every Florida driver should obtain the maximum amount of PIP, med-pay and uninsured motorist coverage offered. PIP benefits cover 80% of all reasonably related accident medical costs, up to $10,000; as well as 60% of all accident related gross lost wages or lost income, within that $10,000 maximum coverage. Med-pay covers all accident related health care costs at 100%, and is typical sold in amounts of $1,000, increments up to $10,000, of additional benefits over the PIP coverage.

For further information on this serious topic please feel free to contact the Fort Lauderdale Injury Lawyers by email to info@www.schulaw.com or by calling 1 (877) 529-0444.