What does “Full Coverage Insurance” mean for residents of St. Petersburg, FL?

One phrase that I hear often from clients is, “I’m good I have full coverage.”  My response to this in the most non-condescending way is, well what is full coverage?  It’s a very simple question.  A question that the answer is implied to one knowing if they are claiming to have it correct?  Take a moment to think about it yourself.  What is full coverage insurance?  Well the answer is not so simple.  For starters, there is no legal definition for the term.  Courts have not defined it and you will not find the term defined by Merriam-Webster.  The term certainly applies to a degree of insurance coverage that one has purchased but the degree itself is ambiguous.  I personally would define full coverage auto insurance to mean; I have PIP insurance (which we will discuss in depth in another video), Bodily injury liability coverage, Property damage liability coverage, comprehensive/collision coverage, and Uninsured/Underinsured coverage.

Lastly the limits of these coverages would be $100,000 each.  What you will find in the insurance marketplace is that the term full coverage insurance is used by nearly every company and almost non of them define the term the same way.  Some define full coverage as simply being what the state requires you to carry to be legally insured with the addition of comprehensive and collision coverage.  In Florida you are only required to carry PIP insurance and $10,000 worth of property damage liability coverage.  What does that mean?  Among other things, it means that if you are involved in an at-fault accident that caused an injury to a third party you may held personally responsible for medical bills, lost wages, pain and suffering damages, out of your pocket.  It also means that if you were injured in a car crash and were not even at fault you could end up paying for at least a part of your own medical bills out of your own pocket.  So depending on how your insurance agent defines “full coverage” you may or may not have much insurance coverage at all.  When your agent uses the term “full coverage” this should send off a red flag to not simply accept that as protecting yourself.

What you need to know about “Full Coverage” liability insurances in St. Petersburg Florida.

1.)  Do I have bodily liability insurance coverage (to protect me if I injure some else)
2.)  Do I have uninsured motorist coverage (to protect myself when I’m injured by a person who was looking for a “good deal” by saving 15% on their insurance.)
3.) Lastly what are the limits of these BI and UM coverages?  If its $10,000 like many insurance policy’s that we see I will implore you that it simply is not enough.  We have seen single visits at a hospital cost more alone.  Protect yourself and if you need any more help making since of these terms or need help navigating the pitfalls of a personal injury claim give us a call.

Shocklee Paolino
6555 Central Avenue
St. Petersburg, FL 33707
(727) 498-8771