Personal Auto Insurance
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- Personal Auto Insurance
Here is some basic info for better clarity:
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Collision Coverage – Insures your
vehicle if you collide with another vehicle or an object, such
as a wall, a tree or a barrier.
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Comprehensive Coverage – Insures
your vehicle against damage involving incidents other than
collisions. Think falling objects, fire, theft, flood,
vandalism and so on.
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Liability Coverage – Insures the
other guy against losses for which you bear the blame.
Policies come with different limits of coverage for bodily
injury and property damage. For example, a limit of
$100,000/$300,000/$50,000 would pay up to $100,000 for bodily
injury per person. It would pay a total of $300,000 per
accident for bodily injury and $50,000 for property damage. Or
you may prefer a combined, single limit of liability
insurance, instead, which makes no distinction between
property damage losses and bodily injury claims.
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Med-Pay – Widely misunderstood
and often poorly explained, the most important thing to
understand is that med-pay covers 100 percent of your own
medical bills after you've exhausted your Florida-mandated
$10,000 coverage limit for personal-injury protection (PIP).
Think of med-pay as health insurance for auto accidents.
Med-pay also covers costs not covered by PIP, such as injuries
from accidents in out-of-state rentals and other non-owned
vehicles, and injuries from accidents on board public
transportation. Med-pay even covers PIP co-payments and
injuries from out-of-state auto-pedestrian accidents. It also
covers funeral costs and other expenses not covered by PIP.
One other important point to know about med-pay is that it’s
cheap.
