Break down my car insurance policyÂ
What does 10/20/10 or 100/300/100 mean?
The numbers represent your liability limits maxium amount in thousands of dollars:
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10 / 20 / 10
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$10,000 bodily injury liability per person
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$20,000 bodily injury liability per accident
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$10,000 property damage liability per accident
100 / 300 / 100
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$100,000 bodily injury liability per person
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$300,000 bodily injury liability per accident
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$100,000 property damage liability per accident
These limits apply to liability coverage for injuries or property damage you cause to others and do not represent coverage for damage to your own vehicle.
What is Personal Injury Protection or PIP?
Personal Injury Protection, commonly called PIP insurance, helps pay certain medical expenses and lost income after a car accident, regardless of who caused the crash. In Florida, required PIP coverage provides up to $10,000 in medical and disability benefits, generally paying 80% of covered medical expenses and 60% of qualifying lost income. To qualify for medical benefits, initial treatment generally must begin within 14 days of the accident.
Additional Car Insurance Coverages
What is Uninsured Motorist?
What Underinsured Motorist?
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What’s the Difference Between Uninsured and Underinsured Motorist Coverage?
Uninsured and Underinsured Motorist (UM/UIM) coverage helps protect Florida drivers when an at-fault driver has no insurance or does not carry enough liability insurance to cover your injuries. UM/UIM coverage may help pay for medical expenses, lost income, and other covered damages after a car accident.
What is Comprehensive?
Comprehensive car insurance coverage helps pay for damage to your vehicle caused by events other than a collision, such as theft, vandalism, fire, falling objects, hail, flooding, or contact with an animal. Comprehensive coverage is typically subject to a deductible and is commonly required by lenders when a vehicle is financed or leased.
Road Side Assistance
Roadside assistance coverage helps Florida drivers when a vehicle becomes disabled due to issues such as a flat tire, dead battery, lockout, empty fuel tank, or mechanical breakdown. Depending on the policy, coverage may include towing, battery jump-starts, fuel delivery, tire changes, and lockout assistance, subject to policy limits and conditions.
What does Collision cover?
Collision car insurance coverage helps pay to repair or replace your vehicle after a covered accident involving another vehicle or object, regardless of who caused the crash. Collision coverage is typically subject to a deductible and is commonly required by lenders when a vehicle is financed or leased.
Rental Reimbursment
Rental reimbursement coverage helps pay for the cost of a rental car or other temporary transportation while your vehicle is being repaired after a covered claim. Coverage is subject to policy limits, such as a daily maximum and a total maximum amount, and generally only applies when the loss itself is covered by your auto insurance policy.
Speak to an Expert
Have questions about your coverage, limits, deductibles, or car insurance options in Florida?
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Ovest Insurance Partners can help you understand your policy and identify coverage that fits your needs.
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west@ovestinsurancepartners.com
386-279-8796
Limits & Deductibles
Understanding the relationship between policy limits and deductibles is essential for finding your ideal financial balance. Your deductible is the out-of-pocket amount you pay before insurance kicks in, while policy limits define the maximum amount the insurer will pay for a covered loss.
Typically, choosing a higher deductible can lower your premium costs, but it requires having that amount readily available in case of an accident. Conversely, higher policy limits provide more comprehensive protection against large claims, ensuring your personal assets remain protected if repair or medical costs exceed standard coverage thresholds.
Affordable Car Insurance Options Florida
Looking for ways to lower your car insurance cost? Coverage limits, deductibles, discounts, vehicle type, driving history, and other factors can all affect your premium. Learn more about finding lower-cost coverage without automatically sacrificing important protection.
Coverage Terminology FAQ
What is a Deductible?
A deductible is the amount you agree to pay out-of-pocket before your insurance coverage kicks in for a covered claim. Choosing a higher deductible typically lowers your premium.
What are Policy Limits?
Policy limits represent the maximum amount your insurance company will pay for a covered loss. Limits are often split between bodily injury per person, per accident, and property damage.
What is Comprehensive Coverage?
Comprehensive coverage pays for damage to your vehicle caused by events other than a collision, such as theft, vandalism, fire, or weather-related damage.
What is Liability Insurance?
Liability insurance covers legal costs and damages if you are found responsible for an accident that causes injury to another person or damage to their property.