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Florida is a No-fault state when it comes to auto insurance. Simply put, the No fault law is intended to help individuals, injured in an accident, receive the necessary financial aid without having to establish who is at fault. Obviously, the amount of money paid out by insurers is up to the limits of the insurance policy. The minimum limits mandated by law are $10,000 of personal injury protection (PIP) and $10,000 of property damage liability (PDL). It is not hard to see that in case of a serious accident, when you would need your insurance the most, these limits will barely be enough. Its strongly recommended to purchase cover well above the required minimum. Listed below are three facts concerning Florida No-fault Insurance that you may not know. 1. Suing the at fault person is an option - Its completely wrong to assume that you can't take someone to court simply because of the No-fault law. Needless to say, certain conditions must be fulfilled. There are two types of conditions, often called thresholds. Death or significant disfigurement are under verbal threshold, big medical bills belong to the monetary threshold. 2. You might have to be examined independently - In order for the Florida No Fault insurance law to operate properly, independent medical examination is needed. Its your insurance company's right to pick a medical professional and request an impartial examination. If you refuse to be examined than your policy will be terminated. 3. Pip will not cover you 100% - Usually, drivers in Florida make the assumption that Pip will cover all their costs in a case of an accident. In fact, PIP only covers 80% . And lets not forget the deductible amount. . Here is a quick illustration. - Total Medical Expenses:$5,000 - Percentage payable under PIP statute:80 percent - Benefits due but for the deductible:$4,000 - Less deductible:$1,000 - Benefits payable:$3,000 Understanding Florida No-Fault insurance law will undoubtedly help you find the ideal plan for you. Don't rush to purchase a policy until you feel confident you have made the correct choice. Ask your insurance broker as many questions as possible. Comparing plans and quotes is the key. You need at least 3 from different insurers. For more information and instant quotes please visit Florida No fault Insurance and SR22 Insurance.
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