Handyman Insurance – Florida Drivers may want to Buy More Insurance
Floridians are required to maintain automobile coverage at all times while operating a vehicle and automobiles must continuously be insured in order to maintain registration in the Sunshine State. The state requires that all self propelled vehicles with four or more wheels be covered by a car insurance policy consisting of a minimum of $10,000 in property damage liability (PDL) and $10,000 in personal injury protection (PIP).
Although this does satisfy Florida laws, these requirements are quite low compared to the majority of other states and can leave a driver uncovered in certain instances and in some cases, facing financial hardship.
Compared to FL, the state of New York requires that motorists carry a minimum of $50,000 in personal injury protection, which can help cover policyholders much more adequately for bodily injuries sustained in an accident than the $10,000 required in the Sunshine State. It may be wise to compare the cost of Medical Payments from multiple Florida auto insurance companies which may cover expenses that PIP may not to see if this coverage can be afforded, especially if the individual does not have a health care plan. Additionally, the property damage liability limits may prove to be inadequate in the event that the insured is at fault for causing a traffic accident where substantial damage is sustained by another party’s vehicle.
According to the Federal Trade Commission, the average sales price of a new automobile is $28,400, therefore, if an individual was to cause a collision where the other vehicle was to be declared a total loss, the motorist may be held responsible for paying any compensation due above and beyond the $10,000 minimum requirement. A common suggestion is to purchase a policy consisting of $50,000 of property damage liability.