Personal Auto Insurance
- Personal Auto Insurance
Here is some basic info for better clarity:
- Collision Coverage – Insures your vehicle if you collide with another vehicle or an object, such as a wall, a tree or a barrier.
- Comprehensive Coverage – Insures your vehicle against damage involving incidents other than collisions. Think falling objects, fire, theft, flood, vandalism and so on.
- 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.
- 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.