HOW COVERED ARE YOU, REALLY? Don’t wait to think about this question until after you’re involved in a car accident. A recent study showed that 20% of drivers in the state of Florida are not insured. What does this mean? If you were in an accident tomorrow, and the at fault party was uninsured, you would absorb the cost of the accident, even if it wasn’t their fault. That’s why it’s important for you to know how covered you really are if the unthinkable were to happen to you.
Here are some key terms you should look for in your policy: UM, BI, Comprehensive Coverage, Property damage, PIP. Let’s dive into their meaning and how they can help protect you and your family if you were involved in an accident.
Uninsured Motorists Coverage (UM or UMBI) pays you when an at-fault driver causes an accident and doesn’t have coverage, or, only has a low amount of coverage.
Bodily Injury (BI) is auto insurance coverage of the at-fault party to cover/pay the injured victim of a crash they caused.
Comprehensive Coverage: helps pay to replace or repair your vehicle, if it’s stolen or damaged in an incident that’s not a collision.
Property Damages: Helps pay to repair damage you cause to another person’s vehicle or property.
Personal Injury Protection (PIP) is also known as no-fault insurance, and covers medical expenses regardless of who’s at fault.
Not sure where to start? Our team would love to help you choose to review your current policy and help you make the decision that is best for you and your family!