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[ No Comments ] Posted on 09.01.09 under DAMAGE CONTROL, INSURANCE, INSURANCE FOR CYCLISTS, MOTORCYCLES
Florida is a “no-fault” state, which means that motorists must carry minimum insurance of at least $10,000 in personal injury protection (PIP) to reimburse accident related medical bills. This requirement does not apply to motorcyclists. A motorcyclist must either carry health insurance or pay accident expenses out of his/her own pocket. With the rising costs of health care, an accident can be financially devastating.
This may not be new information for the experienced rider, but the rider may believe they can recover against the motorist who caused the accident. However, the economic downturn means more motorists than ever are driving without insurance. It is believed that one-third of drivers do not have insurance. Add to this the fact that Florida does not require a driver to carry bodily injury liability coverage (the insurance that pays for injuries you cause to someone else) and it is clear the roads are very dangerous indeed.
In order to protect yourself, it is necessary to carry uninsured motorist coverage. This provides coverage when the other driver has no insurance or cannot pay your damages. In addition, if you own more than one vehicle, you should also make sure the uninsured motorist coverage is stackable.
If you are not sure of your insurance coverage, we are happy to discuss your insurance situation. The time to act is now– before you discover that you don’t have the coverage you need.
Mary Ann Morgan
[ No Comments ] Posted on 08.21.09 under CAR ACCIDENTS, DAMAGE CONTROL, INSURANCE, INSURANCE FOR CYCLISTS, MOTORCYCLES
WHY?
Example: You buy a motorcycle. You tell your Insurance Agent you do not have health insurance so you want to be sure your motorcycle policy includes medical coverage for you if you are in an accident. You get the policy in the mail but you don’t see anything in it that looks like medical coverage for you. You call your Agent. She assures you that you do have the coverage. You get into an accident and are injured. Your insurance company then tells you your policy does not include medical coverage for you. You call your Agent. She now denies having told you your motorcycle policy included medical coverage for you.
“An ounce of prevention is worth a pound of cure.” So, always confirm important things in writing.
Joseph E. BoatwrightBillings, Morgan & Boatwright
[ No Comments ] Posted on 07.05.08 under INSURANCE FOR CYCLISTS
The debate goes on. ” Should I go bare? Why buy insurance if I don’t have to? I have a mortgage or rent to pay and the last thing I want to do is give an insurance company my hard earned money! Besides, I’m a careful rider. And even if I do get insurance, it will be the minimum to keep me legal. I’m not wasting money on that UM coverage (Uninsured/Underinsured coverage). By the way, what the heck is UM?”
Sound familiar? As we all look for ways to tighten our belts in an ever increasing downward turn in the economy, the last thing on our minds is spending a bunch on insurance. In a tight economy, often insurance coverage is one of the first things to go. WRONG, WRONG, WRONG!
We all know the statistics. 70% of accidents involving motorcycles are the fault of the other person. You’ve seen them on the road. Crazy drivers who don’t care a flip about motorcycles or the safety of those riding them. And face it. If we really thought we would be in an accident, we may be driving only cars. But they happen. And if you are involved in an accident while on a bike, chances are it will not be pretty. You WILL be on the losing end of that battle.
So what’s the best use of your insurance dollars? First you have to look at the risk. If chances are greater that you may not be at fault for an accident, let’s look at statistics regarding other motorists in Florida who share the roads with you. Florida law does not require vehicle drivers to carry bodily injury liability insurance, only property damage insurance. (Some may say our legislators care more about cars being damaged than people, however that is a topic for another article)
If drivers can legally drive without carrying insurance to cover someone they injure, then ask yourself…who are the drivers most likely to only carry the minimum insurance? RIGHT! The WORST drivers! Because it costs so much more for insurance if you have a bad driving record. Then consider that bad drivers are the most likely to cause accidents, particularly with bikers and you understand the point: You are more likely to be hit by bad drivers…bad drivers are more likely to carry no insurance for injuries they cause.
IT’S UP TO YOU to protect you and your family! You can purchase insurance to cover you for those reckless yahoos who cause accidents and have little or no insurance. Ask your insurance agent about UM coverage being added to your policy if you don’t currently have it.
I frequently have clients tell me, ‘don’t worry, I have full coverage’. What that usually means is they have collision coverage for their car or bike. Most people I know have no idea how important UM coverage is. That is the insurance that steps in if you are injured by someone without insurance or without enough insurance. If you don’t have this important coverage you have rejected it by signing aform. (Again, most people have no idea exactly what they are signing when their agent just points and says, ’sign here and here’)
So the bottom line is you need to take a few minutes out and check your policy covering your bike and car/truck. Make sure you have UM/UIM insurance on your policy. And the amount should be equal to your Bodily Injury Liability limits. If you have more than one vehicle, then choose ’stacked’ UM. This doubles the coverage if there are 2 vehicles on the policy.
If you have any questions, ask your attorney. If you don’t have one, our office conducts free policy check ups. Just give me a call at 407-679-9900 or email me at Maryann@billingslawfirm.com.