UNDERSTANDING COLLISION INSURANCE IN FLORIDA

What is Collision Insurance and how does it protect your assets after an accident?

A vehicle that crashes into another car or object will experience some sort of damage; be it a busted headlight, cracked windshield, deployed airbag, or even destruction. Collision insurance helps cover the vehicle owner’s repair costs and gets the vehicle back on the road quickly. But that’s not all there is to know about Collision Insurance. Keep reading to find out more!

COLLISION INSURANCE BASICS

The Perazzo Law Firm recommends Collision Insurance for vehicle owners that:

• Drive expensive vehicles Use their vehicle to earn a living
• Need their vehicle to provide well-being for their family
• Drive vehicles that are leased or financed
• Don’t want their car sitting in a repair shop for months after an accident

With Collision Insurance, your vehicle will be covered after an accident regardless of fault. If you are at fault, there is no other policy that will cover your vehicle’s damages and you will be left to pay for your damages. Unfortunately, collision insurance does not cover against:

• Damage to other vehicles
• Theft Damage from natural disasters like flooding
• Injuries or damage to you or third parties

GETTING BACK ON THE ROAD

Most of our clients are eager to get back on the road as quickly as possible after an accident and if you need to get behind the wheel quickly, this is the coverage to have. If you do not carry collision coverage, getting your car or truck out of the shop after a not-at-fault accident may take longer, because the other party’s insurance provider will most likely investigate the accident in order to:

• Determine fault Evaluate the extent of damages
• Verify grounds for a compensation settlement

The Miami-based Perazzo Law Firm reminds collision insurance policy holders that this type of insurance has a coverage limit, usually based on the fair market value value of the vehicle at the time of the accident; thus if the vehicle is totaled, and you owe more than the car is worth, you may still be on the hook to the finance company for the difference, unless you purchased GAP insurance as we will discuss in another article.

COMMON DELAYS AND SETBACKS

Vehicles involved in collisions, may spend more time than necessary in a repair shop. This can be due to many factors, but the main reasons are:

• Insurance provider investigation
• Delays in drafting, inputting, and gathering police reports
• Inspections of the vehicles involved
• Delays in reaching a compensation settlement
• Delays in reaching insured parties and witnesses
• Errors in the police report And more.

Carrying out the investigation and gathering information will take time. Furthermore, sending out an adjuster to verify damage may also take up valuable time. All this can be adverted if you carry collision coverage because it will quickly pay for your repairs. You simply pay the deductible and your insurance takes care of the rest; if you were not at fault, they will even attempt to collect what they paid, and your deductible, through a process known as subrogation. Without collision insurance coverage, you may have to come out of pocket and hope the other motorist is properly insured. All this can be avoided by simply carrying collision coverage.

The Perazzo Law Firm reminds motorists that even though they may think they are not at fault, there is always a chance that they may be held liable for at least part of the accident. Thus, hiring a dedicated and professional car accident attorney to handle your case is fundamental for a successful claim. Contact us ONLINE or CALL (786) LAWS-411 for a FREE initial consultation.