How Much Car Insurance Do I Need in Florida?

Choosing car insurance is confusing. With so many options, complicated terminology, and the lingering fear of being sued, it can be challenging to find the right plan. You don’t want to pay for what you don’t need, but you also want to make sure you are covered if you are involved in an accident.

It leaves many people wondering, “How much car insurance do I need?”

TJ Grimaldi is here to help you in life’s most challenging moments, and that includes signing up for a car insurance plan that will keep money in your pocket while protecting you and your assets. Use this guide to determine what car insurance you need in Florida.

The Types of Car Insurance Coverage

The first step in obtaining the right amount of car insurance is understanding what options are available to you. When you sign up for car insurance, you will have the option of getting the following types of coverage in Florida.

Two types of car insurance coverage are required in Florida.

Personal Injury Protection (PIP) covers your medical expenses and lost wages if you are in an accident (no matter who caused the accident). In Florida, drivers are required to hold up to $10,000 per person in PIP insurance.
Property Damage Liability (PD) covers damage to someone else’s property. In Florida, drivers are required to hold up to $10,000 in PD insurance.

Other types of car insurance coverage can be added to your plan. They are not required but offer additional protection.

Bodily Injury Liability (BI) covers the injuries of others hurt in the accident. It may also pay for legal fees if you are sued.
MedPay covers medical expenses for you and your passengers that are not covered by PIP. It is add-on coverage to PIP.
Uninsured/Underinsured Motorist Coverage (UM/UIM) covers your damages if you are hit by a driver who has no insurance.
Collision Coverage covers the replacement of your vehicle if you’re at fault in an accident.
Comprehensive Coverage covers non-collision damage such as theft, vandalism, and weather-related incidents.

Do You Have to Have Car Insurance?

Yes, you must have car insurance in Florida. It is illegal to drive a vehicle that does not have insurance. In Florida, you are only required to have two types of coverage: Personal Injury (PIP) at a minimum of $10,000 per person and Property Damage Liability (PD) insurance at a minimum of $10,000.

What Does “Full Coverage” Car Insurance Cover?

Full coverage car insurance is not an official policy. No policy will provide enough insurance to cover unlimited expenses.

“It’s one of the biggest misconceptions in the insurance industry,” says Tampa personal injury attorney, TJ Grimaldi. “There is no such thing as full car insurance coverage.”

When people say “full coverage,” they typically mean you have the legally required amount of car insurance, which in Florida is Personal Injury (PIP) at a minimum of $10,000 per person and Property Damage Liability (PD) insurance at a minimum of $10,000.

How Much Car Insurance Do I Need?

In Florida, you must have the legally required minimum of $10,000 per person Personal Injury (PIP) and minimum of $10,000 Property Damage Liability (PD) insurance.

Beyond that, TJ Grimaldi recommends adding on at least the minimum Bodily Injury Liability (BI) coverage, which is $10,000/per person, and the minimum Uninsured/Underinsured Motorist Coverage (UM/UIM), which is $10,000/per person. BI protects you and your assets if you are at fault for the accident, and UM/UIM gives you a pocket to go after if you are injured in an accident and the other person doesn’t have BI or enough BI.

TJ Grimaldi suggests not wasting money on MedPay because you already have PIP, which you don’t have to pay your insurance back for. But if your insurance decides to use MedPay and you get money for your injuries, you may have to pay the money back.

What Does Car Insurance Cover?

Car insurance coverage varies depending on your policies and limits. There are multiple types of coverage that pertain to specific categories of damages and injuries.

Personal Injury Protection (PIP) covers medical expenses and lost wages.
Property Damage Liability (PD) covers damage to someone else’s property.
Bodily Injury Liability (BI) covers the injuries of others hurt in the accident.
MedPay covers medical expenses for you and your passengers that are not covered by PIP.
Uninsured/Underinsured Motorist Coverage (UM/UIM) covers your damages if you are hit by a driver who has no insurance.
Collision Coverage covers the replacement of your vehicle if you’re at-fault in an accident.
Comprehensive Coverage covers non-collision damage such as theft, vandalism, and weather-related incidents.

While insurance companies are supposed to make payouts based on policy limits, they frequently do whatever they can to pay out the least amount of money. For this reason, it’s imperative to talk to a personal injury attorney after an auto accident. They can help you get the full amount you are owed from the insurance company.

Protect Your Assets. Protect Yourself.

Having the correct amount of car insurance is one way to protect your assets and yourself.

But even with the right insurance, you can still find yourself in a challenging situation after a car accident. If you find that your insurance is not paying you what you think you are owed, talk to TJ Grimaldi.

TJ Grimaldi fights for his clients to get what they are owed by insurance companies. Don’t miss out on money that belongs to you. Get a free consultation with TJ Grimaldi to see how he can help you fully recover after an auto accident. Request your free consultation or call 813-226-1023 today.