Auto Accident Insurance | Things You Should Know
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FLORIDA INSURANCE LAW
Florida law does not adequately protect consumers when it comes to automobile insurance.
FLORIDA LAW REQUIRES:
No-Fault Insurance. Insurance companies must offer $10,000 Personal Injury Protection (PIP) with every policy. PIP insurance covers your medical bills (up to 80%) and lost wages (up to 60%) up to the first $10,000 regardless of fault in the accident (Florida No-Fault);
Property Damage minimum $10,000. Currently, Florida law only requires consumers to carry a minimum of $10,000 property insurance coverage. This coverage will serve to protect the other party in the event that the accident is your fault.
FLORIDA LAW DOES NOT REQUIRE:
Bodily Injury (BI) insurance. BI insurance is the portion of an insurance policy that pays your damages and pain and suffering when you are injured by the negligence of the at-fault driver. If the at-fault driver does not have BI coverage then their may be no coverage available to you in the event that you are injured.
Uninsured/Underinsured Motorist (UM). UM coverage covers your own injuries to the extent that the at-fault driver does not have sufficient coverage to make you whole. UM coverage is the only coverage within your own policy that serves solely to protect you.
FRIENDLY ADVICE:
Purchase UM insurance coverage. In the event that you are injured in a car accident UM will serve to protect you and cover the damages of your claim if the at-fault driver is un-insured or under insured. Too often, we find the people that cause car accidents either have no insurance at all or only a very minimal $10,000 in Bodily Injury coverage. If you are seriously injured by a driver with little or no insurance and find yourself out of work then UM insurance can provide the money you need to protect your family, home, and maintain your life.
Increase your BI coverage. BI coverage essentially protects you and your family in the event that you injur a person in a car accident. If you are at-fault and seriously hurt another driver or passenger and have inadequate insurance then you may be personally sued for excess damages. BI coverage protects your personal and family assets from attack in the event that a person is seriously injured.
Test your Insurance Agent. If your agent suggests that you should not elect extra coverage benefits under a UM policy or additional BI coverage then you should fire that agent immediately. Protecting yourself, your family, and your assets should always be your top priority. If your agent does not agree then they do not have your best interests in mind.
FLORIDA NO-FAULT
The History of PIP. The original purpose of Florida's 'no fault' insurance law was to provide immediate coverage for medical and other injury related expenses without having to litigate the claim to determine fault. Forty years ago, insurance companies refused to pay any money damages towrds medical and injury related expenses after a car accident without a full determination of fault. This system took its toll on Florida's consumers who were forced to come immediately out of pocket to cover such expenses. Over time, Florida juries began awarding large verdicts in favor of injured consumers who were forced to sue insurance companies to receive any compensation for their claims. In response to their consistent defeats in court, the insurance industry developed a system to deter injured consumers from pursuing litigation in order to receive compensation for their medical bills and pain and suffering. The assumption was that paying for the injured consumers medical bills up front would deter most from pursuing the additional monies they were owed in court. Ironically, the system developed by the insurance industry more then 4 decades ago to cheat consumers out of their rightful money is now the same system they are tirelessly trying to destroy through the State legislature.
Sunset of PIP. In an effort to mitigate the money paid on accident and injury claims the insurance industry has conspired with many doctors and chiropractors to standardize treatment through the implementastion of billing codes and same day payment systems. The insurance companies believe, and rightfully so, that they will defeat the high values typically associaited with serious injuries by having chiropracotrs treat all patients and injuries in a standardized format. Over the years, the insurance companies have used these new, lower values as the starting point for valuing today's claims. Since they have been successful in de-valuing claims, the insurance company has now turned their attention to destroying Florida's No-Fault system and forcing consumers back into court for even the most basic of claims. With values so low, the belief is that many consumers will not pursue claims as vigorously as they do today, driving many lawyers out of business. With their enemy eliminated, nobody will stand up for consumer's rights and insurance companies will be free to pay pennies on the dollar for legitimate injury claims. The medical profession's acceptance of standardized medical treatment combined with the growth and consolidation of representation through 'mill' auto accident firms coupled with the birth of the "800call" chiropractor centers, the insurance industry has nearly destroyed a system that was once considered the best on the country.
Exceptions to Florida No-Fault. Florida does have exceptions to the "No-Fault" law. You may collect non-economic damages from the at-fault party if you can establish that the bodily injury resulted in: 1) significant and permanent loss of important bodily function; 2) permanent injury; 3) significant and permanent scarring or disfigurement; or 3) death.
THE SOLUTION
Competent Medical Treatment. The key component to the resurrection of the auto accident insurance system is the elimination of standardized treatment in the medical profession. The elimination of this type of treatment will help weed-out the medical clinics that exist for the sole purpose of exhausting the consumer's PIP insurance. Additionally, medical doctors must play an integral part in the evaluation of the injured. Proper documentation and evaluation performed by a Medical Doctor (M.D.) will give the claim value credibility and make the insurance companies less likely to challenge these values in court.
Competent Legal Representation. Consumers need lawyers to represent their interests against the insurance industry. Lawyers must be prepared to treat every case and client differently. Standardization in representation of auto accident and injury claims must be avoided to keep the best interest of each client in mind.
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