PIP INSURANCE COVERAGE OVERHAUL UNDER WAY
IN MIAMI, THE PERAZZO LAW FIRM SHARES INSIGHT ON PIP (PERSONAL INJURY PROTECTION) INSURANCE COVERAGE AND HOW IT WILL AFFECT YOU AS A REGISTERED MOTOR VEHICLE OWNER IN FLORIDA.
If you are a registered motor vehicle owner in the State of Florida, Jonathan Perazzo, founder and personal injury lawyer at the Perazzo Law Firm, reminds you that PIP insurance is mandatory in Florida. However, that could all change very soon if Gov. DeSantis signs the bill that would compel registered motor vehicle owners to carry BI (Bodily Injury Insurance), which is seen by many as a good move because it favors car accident victims and helps them obtain coverage for bodily injury medical expenses incurred in a motor vehicle accident. But what about UM (Uninsured Motorist) insurance? According to Jonathan Perazzo, a highly dedicated car accident lawyer in Miami, UM insurance should be mandatory for all registered motor vehicle owners.
Here’s what Jonathan had to say about the change from PIP to BI:
-PIP fraud likes to be placed on lawyers and consumers, with insurance companies. However, the reason there is so much PIP litigation is because the insurance companies do not pay the claims as they are required to. Insurance providers are now advocating that $25,000 in coverage will somehow cost people less than $10,000 in coverage and trying to make the laws easier on themselves because PIP is first- party insurance. This is because insurance companies like to use words like, “fraud” and place it at the feet of the policy holder, in other words, the consumer. Basically, insurance companies feel comfortable blaming lawyers for increased premiums, having spent a lot of effort to convince the public of this. It’s a hard fact that insurance providers are very often reluctant to pay claims properly and use their client’s money as an inherited free loan. Then, when lawyers get involved to guide accident victims through their complex road to compensation for injuries, damages, and losses after an accident occurs. Eventually, these loans start to become expensive, and what happens is that they wind up passing the costs onto other customers. It’s common knowledge among motor vehicle accident lawyers that vehicle insurance carriers owe a fiduciary duty to their insured (client/customer) and have much less leeway when it comes to denying these claims improperly. Bodily Injury insurance coverage is a third-party insurance coverage and there is no fiduciary duty to the injured victim, as a result, insurance companies play more games with people’s lives by implementing BI. At present, the accident victim’s medical expenses will not get paid until after the bodily injury liability insurance pays up. Whereas prior to the bill, it would get paid in 30 days; now it could take years.
WHAT WILL THIS CHANGE MEAN TO INSURED ACCIDENT VICTIMS?
-This change from PIP to BI (Bodily Injury) may very well put doctors out of business and make it even more difficult for people to receive the healthcare they need in order to recover from their vehicle accident injuries. This will also place doctors in a position to render services in the hopes of one day getting a check for their professional services.
WHAT IS BODILY INJURY INSURANCE?
BODILY INJURY LIABILITY INSURANCE (BI): Though not legally required under Florida Law, Bodily Injury (BI) is recommended to those that can afford it as bodily insurance provides the insured party with financial coverage in the event he/she is responsible for the personal injury or wrongful death to passengers or individuals. Basically, it covers your Assets should you cause an accident. This is very important because it could be the difference between putting a down payment on your house of paying for someone else’s medical expenses. If you are a victim in a motor vehicle accident, this is the insurance from which your car accident lawyer would seek compensation for your injuries, damages or lost wages. BI also provides financial coverage for legal fees in the event the policy holder is taken to court for further legal action because of an Insurance Claim. In other words, if you, a family member, or loved one suffers personal injury in a car accident, and the policy holder has BI coverage, you are entitled to seek compensation for the medical bills, lost wages, funeral expenses, or legal fees resulting from the car accident. Thus, the driver at fault may not have to go into his/her pocket to pay for the motor vehicle accident victim’s injuries. BI may be mandatory in some cases where the owner of the vehicle is financing or leasing a vehicle and the financing company requires this coverage. BI is sold differently than other insurance coverages as it is sold in two parts; maximum per person and a maximum total. Sometimes a policy may be sold as $100K / $300K or $10K / $20K. The first figure represents the maximum amount payable per person and the second figure represents a maximum total to be paid out per accident. UM works in a very similar manner. For more in-depth information on BI coverage, contact an insurance provider or contact the car accident attorneys at the Perazzo Law Firm for a FREE initial consultation.
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INSURANCE POLICIES FOR FLORIDA MOTORISTS – Personal Injury Lawyer in Miami
TOP INSURANCE POLICIES FOR FLORIDA DRIVERS BY THE PERSONAL INJURY LAWYERS AT THE PERAZZO LAW FIRM IN MIAMI-DADE
- What insurance policies are available and how do they protect me?
- My insurance doesn’t cover the extent the damage to my car.
- The medical bills exceed my insurance coverage.
- The other driver’s insurance fails to cover my medical bills.
- I’m looking for an insurance policy that offers the best coverage.
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WHY IS UM PERHAPS THE BEST ADDITION TO YOUR INSURANCE POLICY?
The Perazzo Law Firm Staff of Car Accident Lawyers believe that Uninsured Motorist Insurance (UM) is the most important insurance policy for motor vehicle owners. The reason being that there are many uninsured and under-insured drivers on the road and UM covers you if the other driver does not have insurance coverage or doesn’t have enough coverage to compensate you in the event of personal injury, property damage, or injuries to your loved ones. In fact, Florida ranks in the top-five when it comes to the highest number of uninsured motorists on U.S. roadways and city streets. The Perazzo Law Firm reminds you that your PIP will only cover a certain amount of medical bills and does not contemplate your pain and suffering and amounts in excess which could easily occur in a severe crash. For example, facial injuries from an airbag, or shoulder injuries, brain trauma, or wrongful death. Medical bills to cover facial injuries, fractures, or breaks, can easily exceed $100,000. Should you only opt to carry the basic coverage policies (PIP and PD) they will not cover the costs of treating severe injuries or contemplate pain and suffering, lost wages, and or any vehicle damages. Hence, you will find yourself having to foot the bill to cover things that were not your fault. In order to protect against such a situation, these insurance policies must be offered to you by your insurance carrier and you must either elect to reject or accept the coverage. In order to purchase UM or UIM (Under-Insured Motorist) coverage t he motor vehicle owner must carry Bodily Injury Protection insurance (BI). Typically, insurance providers submit the BI contract to you with the box already completed. Our car Miami accident attorneys believe this is because UM insurance is of extremely great value for the price. If you think about it, the insurance company knows everything about you; where you live, what you do, where you work, your credit score, and other information that they can use to determine the risk or chances of you causing an accident. They cannot, however, gauge the risk of someone else crashing into you or causing an accident. Since this insurance premium is dictated by Florida law, UM is far less expensive than the mandatory insurances and riskier for the insurance company, they typically do not offer to openly or explain the importance of it to motorists. While you typically need to get bodily insurance to unlock uninsured motorist coverage. The Perazzo Law Firm highly recommends that motor vehicle owners carry uninsured motorist coverage (UM) or Under-insured motorist coverage (UIM) as it could potentially save you from a lifetime of financial burden brought about by someone else’s negligent or fault. It is also a valuable insurance coverage to have in the event of a hit and run accident. When combined with PIP and PD, UM will cover your pain, suffering, lost wages, and any other losses in line with the amount purchased. The Perazzo Law Firm informs motor vehicle owners that there are two types of UM coverage: STACK and UNSTACKED. The latter is placed on each of the vehicles that you own, be it one of three or all three vehicles, no matter on how many vehicles you own though the cover each vehicle separately, you will not be covered if you are a passenger in another person’s vehicle. However, the UM will only cover when operating said vehicle being driven at the time of the accident. Stacked UM coverage covers you and those stipulated on the insurance coverage policy as well as your household family members regardless of the vehicle those insured were in at the time of an accident. It is called stack because if you own more than one vehicle and you carry this policy on multiple vehicles the coverage accumulates according to the number of vehicles in the policy. For instance, three vehicles carrying a $100K policy would mean that you have $300,000 in coverage with which to cover injuries or losses for everyone in the STACK UM policy. The Perazzo Law Firm hopes this helps clarify the role and importance of UM insurance and what it means to you and your loved ones. This is not an exhaustive explanation as there is much more to fully understanding UM.
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WHAT IS AN INSURANCE CLAIM?
An insurance claim is a legal means for obtaining compensation from those found legally at fault after an accident, an act of negligence, or any sort of wrongdoing by another individual, manufacturer, or business operator. When an accident victim files an insurance claim, most often through a personal injury attorney, he or she is making a formal request to their insurance provider, and/or the insurance provider of those at fault. The insurance claim is meant to help compensate accident victims so that they can cover their financial losses, physical pain, mental trauma, damages, or any other losses brought on from an accident, negligence, or wrongdoing. Jonathan Perazzo, personal injury attorney and founder of the Perazzo Law Firm, strongly urges accident victims, to consult a trusted and dedicated personal injury lawyer before filing an insurance claim on their own. Why? Because it is a common practice among insurance providers to offer accident victims, or those that have suffered losses, settlements which are lower than their real value. In other words, without the legal services of a dedicated personal injury lawyer, the person filing the insurance claim may receive less than the claim is actually worth. When in doubt, contact a personal injury lawyer that will strive for the maximum possible payout or compensation deserved to cover personal injury, damages, or losses.
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DO YOU NEED AN ATTORNEY FOR A MINOR CAR ACCIDENT?
Following a minor car accident, be it a rear-end collision or side impact that results in a dent, you are entitled to file an insurance claim to cover any damages to your vehicle. In Florida, all registered vehicle owners are obliged by law to carry the minimum insurance consisting of PIP (Personal Injury Protection) and PD (Property Damage) coverage. Both insurance policies cover a maximum of $10,000 in personal injury / vehicle damage expenses. Thus, it is always useful to contact a car accident lawyer to ask about filing an insurance claim if you don’t want to pay out of pocket for even minor damage to your vehicle, especially since your insurance providers are not in the business of providing coverage free of charge. That said, you have the right to request something that you are legitimately entitled to. But what about a minor collision that results in bodily harm, such as whiplash resulting from being struck by another motorist?
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