Car Insurance -- What does it mean.

what does liability car insurance mean

Q: What is: PIP/Personal Injury Protection (NO-FAULT) Insurance?

PIP coverage is required by Florida Law. This is also known as “no-fault” insurance. Florida law doesn’t care who is at-fault in an accident when it comes to paying medical bills up to $10,000.00. This means that you are required, by law, to submit your medical bills to your own PIP insurance, regardless of who caused the accident (and PIP will pay 80% of your medical bills, up to $10,000.00, as well as 60% of any lost-wages because of your inability to work due to your injuries).

(NOTE: As of January, 2013, Florida's PIP Law requires that an individual receive medical treatment within Fourteen [14] Days after an accident; otherwise, your own PIP Insurance may not your medical bills under the PIP portion of your Own Insurance Coverage).

Q: Medical-Payments Coverage (MedPay): what

is this?

MedPay coverage is optional and not required by Florida Law. If you are in a car accident, and if you have purchased MedPay for your own auto policy, then it is the MedPay that will pay the 20% not covered by your standard PIP (up to the amount of MedPay that you bought).

Q: Bodily-Injury Liability (BI) -- What is this ?

BI coverage is optional and not required by Florida Law. If you are in a car accident, then it is the BI portion of the at-fault driver’s insurance policy that will pay for any medical bills not paid by your own PIP coverage; BI is also the portion of the at-fault driver’s insurance coverage that may pay you money for pain and suffering due to bodily injuries.

Q: Uninsured/Underinsured Motorist Coverage (UM): what is this ?

Source: lawyerjackie.com

Category: Insurance

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