Here in Orlando a motorist might enter into a state of shock when their attorney tells them that they are going to have to pay tens of thousands out of their own money in out-of-pocket expenses even though they were not the cause the accident (and the at fault party complied with the Florida insurance laws).
The minimum requirements for car insurance in Florida
Drivers must have $10,000 worth of property damage coverage to pay for the other person’s car repairs when found at fault. In addition, motorists must have $10,000 worth of personal injury protection (PIP) to pay for medical bills and lost wages (Florida is a no-fault state and your own insurance company must pay 80% of your medical bills and 60% of your lost wages up to $10,000).
These are the only requirements in Florida in order to get behind the wheel of a car and drive. It’s estimated that over 50% of people on the road carry only this minimally required insurance and many have none at all (and are therefore driving illegally). So, given these statistics, chances are you will not be prepared unless you have planned ahead and taken care of yourself and your family by buying adequate insurance.
How much Orlando auto insurance is needed for adequate protection?
All drivers should purchase collision insurance on their auto policy. If you do not have collision insurance you’ll have to pay out of pocket to repair or replace your vehicle if the damage to your car is more than $10,000, the at fault driver is driving illegally with no insurance, or you caused the accident.
Purchase extended personal injury protection (PIP). $50,000 to $100,000 is the recommended minimum to protect you in the event that your medical bills and lost wages are more than $10,000. (Remember that $10,000 in PIP coverage goes rather quickly when medical attention is required).
You may also want to consider purchasing medical payment coverage ($5,000 is the recommended minimum), bodily injury liability ($100,000 per person/$300,000 per accident recommended, or more if you have substantial assets), and uninsured and/or underinsured motorist coverage ($100,000/$300,000 recommended minimum). This is because, if the at-fault party has little or no liability insurance, you won’t have any other recourse.