"Full coverage" as used by many insurance agents is a misleading,
meaningless term. As typically used by agents the phrase means no
more than the insured has purchased the minimum insurance required
by Florida law, and in Florida the law requires nothing more than
what is commonly referred to as "PIP", or Personal Injury Protection
coverage, and property damage liability insurance.
Property
damage liability insurance pays for damage caused by you to the
automobile of another. PIP coverage pays for 80-90% of your medical
bills and 60% of your lost wages, usually up to a limit of $10,000
in total payments. PIP coverage pays nothing for the first 10-20%
of your medical bills,for your future medical care needs, for the
40% of your lost wages not covered by PIP, for your medical bills
beyond the typical $10,000 PIP limit, or for your pain and suffering;
all of which comprise the real value of an automobile personal injury
claim.
Various
studies have established that approximately 40% of all Florida drivers
either do not carry any insurance or carry only PIP coverage. A
person injured in an automobile accident by an uninsured driver,
or by a driver insured with only PIP coverage, has no insurance
coverage against which to make a claim or file a lawsuit. These
are the clients whom we must regrefully inform have no case, no
matter how extensive their injuries.
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