Although not required by law, comprehensive insurance can protect your car and your assets in the event of an accident or other incident.

In Florida, the insurance requirements for all drivers include a $10,000 property damage liability policy as well as a $10,000 policy called the Florida no fault insurance or personal injury protection coverage. This policy is only concerned with personal injury protection; it has nothing to do with any property that has been damaged in a vehicular accident. It is important to note that these two policies may not provide you with all the insurance that you need.

Personal injury protection (or PIP) was originally meant to protect the state from excessive lawsuits, but there are cases where fraud is committed.

Why Comprehensive Insurance May Make More Sense

The Florida no fault policy will only cover injuries, which may or may not exceed the $10,000 amount of the policy. The same can be said for the property damage liability coverage.

Consider this:

• In many cases, property damage plus personal injury will exceed the combined amounts of the two minimal policies. For instance, if you hit an elderly couple in a Mercedes, the expenses can accumulate quite quickly.
• Your liability insurance coverage will not cover the replacement cost of your own vehicle.
• If you have financed your vehicle through a bank or financing company, your liability insurance may not cover the full cost of vehicle plus its financing/interest costs, leaving you to foot the bill.

Additional Protections through Comprehensive Insurance

Liability insurance will only cover damages to another person’s vehicle and only in certain situations. So, what happens if your car is stolen and then damaged before being returned, or worse, is never found again? What protection should you have in place?

Comprehensive insurance is meant to protect your vehicle and, in the case of financing, the lien holder’s interests as well. In addition to damages caused by an auto thief, comprehensive insurance can provide protection for:

• Damages that are caused by a collision with an animal. In Florida, there are instances of cars hitting alligators that are walking onto the roadways, which may cause serious damage. Other animals may also be problematic.
• Damages caused by something that has flown out of someone else’s vehicle or has bounced up from the roadway.
• Damages caused by a falling tree limb or other object.
• Damages caused by acts of God such as serious weather. Florida is known for pleasant weather conditions throughout much of the year, but can often see serious conditions including hurricanes, flooding, landslides and similar tragedies.

It is important to note that in Florida, like in most states, collision insurance only covers vehicular damage that occurs when there is a collision, as the name implies. It is also important to note that in many cases, a collision may lead to additional damages, including hitting other types of property that may not be covered in a simple liability or collision insurance policy.