Auto Insurance: What Does 10/20 Really Cover?

Two Cars Auto Accident Insurance LimitsDo you know your auto coverage limits? Do you feel comfortable with the limits that you have? You may be surprised when you learn the answers to these questions.

Florida law does not require individuals to carry Bodily Injury Liability, however many Floridians carry $10,000 per person/$20,000 per accident. If you carry only minimum personal protection, your assets and future earnings could be at risk if you were found at fault in an accident causing death or injury to another person. What you need to ask yourself is: How much liability insurance would protect my future?

Here is a real life tragedy to help put these numbers into prospective. A teenage son was driving his younger sister and her friend to the movies. He lost control of the vehicle, left the road, and hit a telephone pole. The friend permanently lost the use of her right arm and suffered severe brain injuries resulting in permanent brain damage. The claim was settled for $1.3 million. Minimum coverage on this claim would not begin to cover this tragedy. Your personal assets and future income would likely be taken to pay this claim.

Bottom Line:

Don’t take the chance on not having enough coverage. Limits of 10/20 is simply not enough coverage. They are called accidents for a reason and they can happen anytime. Competitive rates are available and may allow you to get better coverage without much more out of pocket cost. Contact one of our Personal Insurance Advisors to learn more.