Ever wonder how auto insurance claims are paid?

In the state of Florida, claims are paid as follows:

1.   Personal Injury Coverage (mandatory; a.k.a. “No Fault”) – covers up to $10,000 of medical bills (80% of your own medical bills and 60% of your own loss wages and a $5,000 benefit for funeral expenses, all inclusive with the $10,000 limit)

2.   Medical Payments (optional coverage) –  covers you, other members on auto insurance agreement, passengers in insured vehicle (regardless who is at fault),  and pays for your medical bills after PIP is exhausted.  (Food for thought: Adjusters will mandate monies paid for doctors bills with this coverage first, IF you suffer wage loss, giving PIP coverage more leisure to pay for your wage loss benefit.)

3.   Liability Coverage (Bodily Injury and Property Damage) – if you cause damage to a person and/or their property this will be covered depending on the policy limits  you choose; this does not include your own injuries nor property.

4.   Uninsured/Underinsured Motorist Coverage protects you and other drivers in household and/or under insurance policy  in case another driver causes you bodily injury and does not have enough coverage, or no coverage, to pay your medicals bills and loss wages in a not at-fault accident.  If you have health insurance, some companies may cover this in lieu of owning said coverage or after insurance claims have been exhausted through the auto insurance company.  Check with your healthcare network provider to assure coverage.

Here at CWI Underwriters  we pride ourselves in representing companies that have the best claims service in town. Located in the Plantation, Fl area, yet offering competitive auto insurance to the entire state of Florida, give us a call! 888-636-6438 or check us out online at www.cwiunderwriters.com