A car accident in Miami, FL can result in vehicle damage in addition to your injuries. Florida is a no-fault state, which means that you are required to seek damages from your own insurer in the event of an auto accident. Personal Injury Protection (PIP) is a type of coverage that kicks in when you suffer injuries in a crash. However, PIP does not cover vehicular damage.
This is where collision coverage comes in. Also known as comprehensive coverage, or property damage coverage, this type of coverage essentially covers you for the costs of having your accident vehicle repaired. The no-fault laws mean that you can seek damages even when your own mistake caused the crash.
In at-fault states, vehicle damages and injury-related losses are typically filed against the at-fault driver. This requires filing the claim with the insurance company of the other driver. However, the no-fault system under which you can seek vehicle damage losses under the collision coverage has many benefits. Here is a look at these.
Benefits of Collision Coverage
The benefits of collision coverage include:
- Quicker Settlement: When you have to go through the insurance company of another driver, it can take a long time to settle the claim. However, when you are filing a property damage claim with your insurer, it is very likely that the claim will be settled more quickly.
- Fault Is Not Involved: This is a particularly relevant advantage for most drivers. In at-fault states, the insurance company will first determine whose fault it was that caused the crash. This can become quite complicated. When you are using your own collision coverage, fault does not come into play. You get to recoup damages whether or not you caused the crash.
Florida Collision Coverage Requirements
Under Florida Statute 627.736, you are required to carry property damage coverage policy of up to $10,000. You may also be required to pay a deductible before you can have your vehicle repaired under this coverage. The good news is that the deductible can be recouped if the accident turns out to be the fault of another driver.
If the other driver’s fault caused the crash, your insurance company will go after that driver and reach a settlement with the at-fault driver’s insurer. You don’t have to worry about this as your claim is filed and settled by your own insurer.
What Does Collision Coverage Cover?
It is important to understand the kind of damages that are covered by the collision coverage. Typically, this type of coverage covers:
- Damage to your vehicle in a collision with another vehicle
- Damage to your vehicle in a single-vehicle crash such as a rollover accident
- Damage to a rental car that you were driving
- Damage to your parked car caused by someone else
Collision coverage does not apply in instances where your vehicle is damaged after hitting an animal, or in incidents of theft or vandalism.
Downsides of Collision Coverage
The most notable downside to the collision coverage is that you have to pay the deductible, which can be as much as $2,500. This significantly reduces your payout. Even without the payout, collision coverage may not be enough to take care of repair costs in cases of severe vehicle damage. With the deductible, the amount is reduced even further.
When the collision coverage is not enough to cover the repair costs, you have to pay the rest of the amount out of your own pocket.
Another notable disadvantage is that your insurance company may have a more inquisitive method of verifying your claim. The insurer may undertake a more elaborate inspection of the vehicle, raise other objections, and be far more thorough. This is not the case when you file the claim with the at-fault driver’s insurance company.
Hiring a Reliable Car Accident Lawyer in Miami, FL
If you have suffered vehicle damage and other losses in a Miami crash, you will typically need to file a claim with your insurer. However, not all insurance companies readily accept car crash claims even when a claim is valid. This is where you need the help of a good lawyer.
Here at Englander Peebles, we work with car accident victims to help them recover the settlement they deserve. We also interact and negotiate with the insurer on your behalf to ensure that your rights are protected. Our ultimate aim is to get the maximum amount of damages for your losses. Contact us today to talk to our attorneys and schedule a free meeting.