Motorcycle Coverage Options
While many states have motorcycle insurance laws that closely resemble the laws for passenger vehicles, Florida is different. This state has no-fault insurance laws, meaning injury claims are usually handled through your own insurance company, regardless of who was at-fault for the cause of the accident. Because we are a no-fault state, drivers of passenger vehicles are required to carry Personal Injury Protection (PIP), which covers medical bills and lost wages after an accident, no matter who caused the crash.
Motorcycle riders are generally not required to carry PIP in Florida. You will have to meet other requirements as stipulated by the Financial Responsibility Law. Under this law, you have to do certain things to prove financial responsibility. The most common way is to purchase insurance coverage for bodily injury and property damage liability. If you want greater protection, you can opt for additional coverage from your auto insurance policy as well as from your other insurance benefits:
- Uninsured/Underinsured Motorist coverage (UM/UIM)
- Health insurance
- Life insurance
UM/UIM coverage can benefit an injured motorcycle rider when the other driver does not have bodily injury insurance or has a limit that is inadequate to cover your injury.
Importance of Protecting Yourself
The ultimate decision regarding additional insurance coverage is up to you. As experienced motorcycle accident lawyers, we have seen how devastating it can be when an injured rider does not have enough coverage. It can create an insurmountable financial burden. Potential advantages of increasing your coverage limits are listed below.
- Protect yourself from liability: Bodily Injury/Property Damage Liability insurance covers you if you are at-fault for an accident that injured someone else. Bodily injury and property damage liability covers you up to limits you opt for. Although there are minimum amounts you must purchase in order to prove financial responsibility, opting for coverage beyond the minimum amounts might protect you from liability if the other person’s injury expenses exceed those minimums.
- Provide medical coverage: Though the Financial Responsibility Law requires you to have at least $10,000 in medical benefits, this amount may be inadequate when you need medical care for a severe injury. By purchasing additional coverage, you may be able to ensure you can pay for all of your medical expenses. Ask your insurance carrier whether PIP is an option, or make sure you are adequately covered under your health insurance.
- Life insurance: Tragically, motorcycle accidents can result in fatal injuries. As a rider, you probably accept this risk and do everything you can to reduce it. Go the extra step to protect your family by considering a life insurance policy.
Florida insurance laws can be a murky area to navigate. Minimum coverage limits are not always the best choice if you want maximum financial protection in the event of serious injury.
If you have been injured in a motorcycle accident caused by someone else’s negligence, or if you have lost a loved one in this type of accident, please call Kogan & DiSalvo today.