Cover Your Assets Part 2

April 6, 2020

By: Attorney David M. Hammer

See below for a continuation of our last post about important insurance needs. As always, if you have any legal questions about your insurance policy please give us a call.

Health Insurance Policy

It may be called a Health Insurance policy, but that does mean everything related to your health is covered. Make sure you look for exclusions.

Typically, the below are not covered, and you should inquire about separate policies of insurance covering these items.

  • Dental
  • Vision
  • Certain preexisting conditions
  • Alternative medicine
  • Experimental procedures
  • Cosmetic surgical procedures
  • Nursing home care

There are many other health related items that are not usually covered under typical health plans. Inquire about your specific needs, and the specific needs of family members.

Automobile Insurance

Many factors affect the cost of automobile insurance. For example, the amount of coverage purchased, the type and cost of car, repair or replacement cost of that vehicle, safety rating, your age, driving record, credit score, purpose or use of car, and where you keep your vehicles.

There are many available coverages you can purchase.

PIP, personal injury protection is mandatory in Florida, this is coverage you purchase to cover your medical expenses and your lost wages in the event you are involved in a motor vehicle accident regardless of fault. Typically, these coverage limits are $ 10,000.00.

Bodily Injury, is coverage that protects you in the event you cause an accident, and there are injuries to others as a result of that accident. You can purchase this coverage in varying amounts of available coverage, the higher amounts of coverage you purchase, the higher the cost to you.

UM, uninsured/underinsured coverage, is coverage you can purchase on your policy to provide benefits to you, in the event you are involved in an accident with another individual who is at fault for the accident,  and that individual driver or owner of that vehicle does not have BI coverage to pay you, or has inadequate BI coverage to pay you fairly for your injuries. This is very important coverage to purchase because there are many drivers who do not have BI coverage. This is coverage to self-protect you and your family members.  However, you can only purchase this valuable UM coverage if you carry BI coverage

Comprehensive/Collision, Property Damage pays for damage to your vehicle, and damage to any property caused by the accident.