Orlando Personal Injury & Accident Lawyer Blog

How to protect yourself in a Post No-Fault World - Part 3

A lot of people will want to know how their auto insurance rates will be affected by the expiration of No-Fault on October 1, 2007. You may see a decrease in your auto insurance premiums, although I wouldn't count on it based on past experience with the insurance companies. Additionally, if you choose to purchase (and you should) optional med-pay coverage, then there will be an additional cost to you. My bottom line advice to consumers who are looking at reviewing their auto policies prior to October 1? Buy as much coverage as you can. The extra cost for protecting you and your family in the event of an accident is small in comparison to the added benefits you could receive if you are in a catastrophic accident. Also, having adequate insurance will help to protect your assets in the event you are at fault in an accident. A quick word about lost wages. You may seek to recover your lost wages from the at-fault driver or their insurance. Some of your lost wages may be covered if you are not at fault in an accident and the at-fault driver has Bodily Injury Liability coverage. If the at-fault driver does not have Bodily Injury Liability coverage, and you have Uninsured Motorist coverage, some of your lost wages may be covered. In the event that the at fault driver does not have BIL coverage, and you do not have UM coverage, then you may not be able to recover your lost wages outside of a courtroom; a lawsuit brought against the at-fault party could be your only recourse. Finally, Property Damage Liability coverage pays for certain damage (up to the limit of the policy) that you or anyone covered under your policy cause to another person’s property through the use of an automobile. It only covers damage for which you or anyone insured under your policy are legally liable. The damage may involve a parked, running or rolling automobile. “Property” isn’t limited to another vehicle; it may include a fence, telephone pole, building or animal. This coverage may apply even if you drive someone else’s automobile. The terms and conditions of your policy determine whether or not coverage applies to anyone using your vehicle. If you have further questions about the end of No-Fault insurance in Florida, or what you need to do now to protect yourself for a post no-fault world, please contact Orlando Personal Injury and Accident Lawyer James Hart 407-839-4340, or fill out our online contact form to email us your questions.

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