Please watch: “How Insurance Companies Make Money Off You”
Please subscribe! https://www.youtube.com/channel/UC_nJdz6-w1hKAjQAgVuLC7g
See my other insurance videos: Understanding Car insurance – What you need to know 101
Coverage not mentioned. Stacked and Non-stacked uninsured Motorist. If you have 2 or more cars you can stack the UM/UIM Coverage for an additional cost. Essentially what that does is in the event you are hit by an uninsured/under-insured motorist if you stack it you get double the coverage. IE: UM 25,000/50,000 stacked. If you are hit by an uninsured motorist you can take an additional 25,000/50,000 from your other car so you are covered up to 50,000/100,000.
State Min: PIP and PD is only required for basic insurance
Most common state Min: BI 10,000/20,000 PD 10,000
More common coverage (still low):
BI limits: 25,000/50,000 PD 25,000
UM/UIM 25,000/50,000 Comprehensive and Collision or UMPD
Most common Home owners buy for Auto:
BI limits: 100,000/300,000 PD: 100,000
Limits I currently carry (I’m not in FL)
250,000/500,000 PD 100,000 UM/UIM 250,000/500,000 Comprehensive minus 250 deductible and Collision minus 500 deductible.
BI = Bodily Injury PD = Property Damage
UM = Uninsured Motorist UIM = Under-insured motorist (UMBI/UIMBI = Uninsured/Under Motorist Bodily Injury)
PIP = Personal Injury Protection
Comprehensive = Other than collision
Collision = Coverage for your auto’s ACV (Actual Cash Value) minus your deductible
Disclosure: I am not advising you to take specific coverage. I am merely giving my opinion. I hope these ideas help you make a better decision on what types of auto insurance coverage will best suit you and your family. Please speak with your insurance agent for more specific advice. Choose your coverage at your own risk. I am not liable for any coverage you choose or don’t choose based on this video.
florida insurance,auto insurance florida,what coverage do I need,what coverage do I need in florida,what coverage for auto insurance in florida,why is florida insurance so expensive,florida auto insurance,insurance quotes in florida,fl insurance,2016 insurance florida,how to get discounts on insurance,getting the best price for insurance,good insurance company in florida,best insurance in florida,top insurance in florida,floridian insurance,Florida high risk