In the State of Florida, there is a minimal type of coverage that needs to be in place to own and operate a motor vehicle. Many people do not understand these minimal requirements. In fact, many people are drive in the State of Florida under the impresssion that he or she has “full coverage” when there is only minimal coverage in place. One reason that people are not better informed is because many such automobile insurance policies are obtained online. There is no contact with a qualified insurance agent or just minimal contact with an insurance agent. It is important for every driver and owner of a motor vehicle in the State of Florida to know and understand the types of insurance coverage currently in place on the policy and otherwise available for purchase.
By the time a person is an automobile accident, it is too late to purchase additional coverage or get coverage in place if it had lapsed. The time to get the insurance papers and coverage in place is prior to the accident. Here are the types of coverage available in the State of Florida:
Property Damage Coverage. This type of insurance will pay the other vehicle owner for his or her property damage if you are at fault for the accident. Minimum state required coverage is set at $10,000. Additional coverage can be purchased which will result in higher premiums. If a person has property damage in excess of $10,000 and you only have $10,000 in coverage, the other vehicle owner can come after you for the additional damage. Your insurance company is only obligated to pay out what you purchased in insurance coverage. It is advisable to get more than $10,000 in property damage coverage.