Auto Insurance · Florida

Auto Insurance

Accidents happen, even for the most careful of drivers. Auto insurance is a safety net that absorbs costly expenses related to automobile accidents, theft, and other covered incidents. Not only does it protect you and your vehicle from damage that results from accidents or theft, it may also provide liability protection if you are found responsible for an accident.

Florida’s heavy traffic, severe weather risks, and the state’s unique no-fault insurance system make it important to have a personal auto policy, or PAP, to protect you, your vehicle, and your finances from certain covered losses.

Components of a Personal Auto Policy in Florida

Here are some of the key components of a personal auto policy in Florida.

Declarations Page

The declarations page of a PAP provides information about the policy owner, the vehicles covered by the policy, and other features referenced in the policy.

Part A: Liability Coverage

After an automobile accident, liability coverage protects you against expenses for other people's injuries and property damage. Bodily injury coverage and property damage coverage are the two types of liability coverage outlined in a PAP. It is important to carefully consider liability coverage limits because pain and suffering claims are hard to measure and may lead to higher claim amounts.

Part B: Medical Payments Coverage

Medical expenses caused by an automobile accident are covered by medical payments coverage, or med pay. A set coverage limit applies to med pay, which is designed to pay for any urgent medical treatment needed by passengers in your car in an auto accident. Med pay may help passengers receive covered treatment without having to wait to determine fault.

Part C: Uninsured/Underinsured Motorist Coverage

This part of a PAP may help protect you from losses caused by uninsured or underinsured drivers (drivers who do not have insurance or sufficient coverage to cover the loss).

Part D: Coverage for Damage to Your Automobile

There are two individual parts to this section of coverage. The first part, collision coverage, generally provides coverage for damage to your vehicle incurred in an accident. The second part, comprehensive coverage, generally provides coverage for physical damage to your car resulting from events such as fire, theft, flood, and vandalism. You can choose to purchase one or both of these coverage types for each of your vehicles. These coverage types can be written with a deductible or with different deductible options, which would typically range from $100 to $1,000. When your deductible is higher, your premium will be lower, and vice versa.

Part E: Duties After an Accident or Loss

The exact process that you must follow for your insurer to cover your claim is detailed in Part E of your PAP. It consists of a list of both broad and specific duties that you have to follow conscientiously when filing a claim. Following these steps can help avoid delays in the claims process.

Part F: Personal Auto Policy Provisions

Provisions limiting and qualifying coverage detailed throughout your PAP are included in Part F. These provisions may also be referred to as disclaimers, and failure to adhere to these provisions may affect coverage for your claim.

You may add optional coverage to your PAP at an additional cost to increase your protection beyond the basic parts listed above.

Exclusions and Limitations

Exclusions are events and situations detailed in your PAP that are excluded from coverage. For example, an exclusion in your PAP may be intentional property damage or personal injury. Damage from normal wear and tear to your vehicle and mechanical breakdown are two other common exclusions.

Limitations are maximum coverage amounts that apply under your PAP. Liability, medical payments, uninsured/underinsured motorists, collision, and comprehensive coverages typically have individual limitations.

It is important to carefully review your PAP to fully understand exclusions and limitations to your automobile coverage.

Individuals Covered By a PAP

The following individuals are usually covered under a PAP in South Florida and surrounding areas:

Named Insured

If you are listed as a named insured on the declarations page, you are the primary insured individual under the PAP. The named insured and their vehicles have the broadest coverage under the PAP.

Spouses

The spouse of the named insured typically receives identical coverage under the PAP if they reside in the same home as the named insured. This coverage extends to the spouse even if they are not specified as a named insured on the PAP’s declarations page.

Family Members

Family members who own, use, and maintain the vehicle covered under the PAP are insured under the policy and typically receive nearly the same amount of coverage as the named insured. The definition of a family member under your PAP is specified in the policy.

Others

In an accident, other individuals may receive coverage from specific parts of your policy under these circumstances:

Liability coverage: The individual was using the insured automobile.
Uninsured motorist coverage and medical payments coverage: They were riding in the insured automobile.
Liability coverage: They are legally responsible for the actions of someone insured under your policy.
Uninsured motorist coverage: They are entitled to recover from injuries sustained by you, your resident spouse, family member, or any other individual covered under the PAP.

If an automobile is not covered by the PAP, other individuals can receive coverage under your policy if:

Additional Coverage Options

How Much Auto Insurance Do I Need?

Buying automobile insurance can be a daunting process, so it is important to carefully review and understand the terminology. Our agents are here to address any questions you may have and explain the specifics of the various coverage options. This can help you choose the appropriate coverage for your needs.

An auto insurance policy may combine multiple types of coverage into a single policy. Typically, these include comprehensive, collision, medical, liability, and uninsured motorist coverage. The policy cost is determined based on the deductible amount, the value of the vehicle and personal information, such as your age. Your policy rate may increase or decrease depending on the coverage and deductible amounts.

When determining the coverage that you need, consider these factors:

Liability

Liability coverage protects you financially if you cause an accident and others suffer injuries or property damage because of it. You may want more protection than the basic amount stated in your auto policy as your assets may be at risk if a claim amount exceeds the policy limit. In general, individuals with considerable financial resources may need to purchase additional liability coverage outside of what is provided in an auto insurance policy. At John Galt, we offer personal umbrella policies for additional liability coverage.

Collision

Collision coverage offers protection for your automobile in an accident. The value of your car should determine the amount of collision coverage that you purchase. Low-value cars may not be worth a sizable collision insurance payment, but high-value cars may benefit from higher collision coverage. Our agents can help you determine the right amount of collision insurance for your automobile.

Comprehensive

Comprehensive coverage may help provide payment for your automobile in the case of theft, vandalism, or damage not related to a collision.

Medical

Medical coverage pays for medical expenses resulting from an accident for both you and the passengers of your car. Your driving habits help determine the amount of medical coverage to purchase. For example, if you are a parent who frequently has young passengers in the car, this is an important protection to have. On the other hand, if you are a young professional who mainly commutes alone, a lower amount of medical coverage may be sufficient, depending on your needs.

Uninsured Motorist

If you are in an accident with an uninsured driver, this important coverage protects you from financial loss.

Gap Coverage

Gap coverage pays the difference between a leased automobile payoff and the amount paid under insurance coverage in the event of damage or theft in the term of a lease. Typically, the lessee must not be in default under the lease terms for gap coverage to apply.

At John Galt, we understand circumstances change. Finding the right auto policy can make all the difference in moments of crisis. By better understanding your personal needs, we can help you make more informed coverage decisions.

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