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Florida Auto Insurance Consultant Comments
"Affordable Auto Insurance Quotes From Edge Auto Online"
Caveat Emptor means buyers beware. This is never truer than when considering the lowest cost auto insurance alternative. Low costs can quickly be outweighed by bad service, late claim payments, and overall frustration. There is such a thing as money well spent and in Florida, the rule is the same. "Consumers often choose the lowest cost alternative without considering the drawbacks of cheap insurance companies", said Lauren Agnew, of Edge Auto Insurance.
The state of Florida maintains a compulsory auto insurance law, which requires automobile owners who register the vehicle in Florida to provide evidence that the auto is insured properly. There are minimum limits that apply in order for a vehicle to be insured properly. Every state has different laws on this subject but in Florida, automobile owners are required to carry $10,000 personal injury protection (PIP) and $10,000 property damage liability. These are the minimum and your qualified Florida auto insurance agent or broker should be able to provide you with recommended limits. Remember that the minimum limit offer the basic protection required by law.
With medical costs increasing every year, it is clear that injuries sustained in an auto accident can become very costly, very quickly and could easily surpass Florida’s statutory minimum limits. A similar case could be made for property damage. This section of coverage would pay for damages to vehicles, buildings, or any other property you cause damage to due to negligence. According to Automotive news, the average price for a used vehicle is $10,167 so be sure you do not cause a crash with any new vehicles!
"Obtaining coverage that exceeds the minimum limits should not be difficult for most people, but if you have a bad driving record, you may find that for at least a couple of years you may qualify for only a minimum limits policy with certain agents. With a little work researching on the Internet and through local agents however, you may be able to find a better policy to fit your needs", noted Agnew.
Going through the extra effort to find adequate coverage is extremely important. If you cause an accident due to negligence, the resulting damages are your responsibility under the law. Insurance is a financial risk control mechanism that merely steps in on your behalf when you pay the insurance premium, and the law will not care that you only have minimum limits on your policy. What could happen is that a judgment will be rendered against you in excess of your policy limits, which would mean you would have to pay the remaining balance on your own. With many verdicts coming in at hundreds of thousands of dollars, and often in the millions, this could easily bankrupt the average driver.
When reviewing your auto insurance coverage be sure to consult an experienced, qualified agent or broker that can help you evaluate your auto insurance needs. It is important to determine your net worth, as this is what would ultimately be at stake in the event that you cause injury or damage to someone else in excess of your policy limits.
