Property damage liability coverage is an essential component of motorcycle insurance in Florida. This coverage provides protection in the event that you are at fault in an accident that causes damage to someone else’s property, such as their vehicle or other structures. It helps cover the repair...
Third-party motorcycle insurance is required in 49 states. Unless you live in Florida (the only state that doesn’t require this insurance), it doesn’t matter whether the coverage is worth it for your situation. You must carry third-party motorcycle insurance to register your bike and ride ...
Financial responsibility laws: These are laws that require people to have enough money on hand to compensate anyone they injure in an accident. Liability insurance satisfies financial responsibility laws, which is why it’s required in most states. Indemnification: Indemnification is compensation for lo...
Given the mandatory nature of PIP insurance in Florida, it is essential for all vehicle owners to comply with the state’s requirements. Failure to maintain the minimum required coverage can result in legal penalties, such as fines and license suspension. Overall, understanding Florida’s mandatory...
Insurance Contributor Lara Vukelich is a freelance writer who has written for Bankrate, Huffington Post and Quiet Revolution to Expedia, Travelocity, and MyMove. She is based in San Diego, California. You may also like Is home insurance required? What homeowners need to know ...
is required to get behind the wheel in nearly every state and can protect you financially by paying for damages or hospital bills if you're found responsible for an accident. But it doesn't cover everything.Here's what you need to know about liability insurance, including what it covers, ...
What Is a Car Insurance Grace Period? A car insurance grace period depends on the situation. For example, if you purchase a new car, you may have a grace period that allows you to drive it before insuring it. However, this depends on your insurer and where you buy the vehicle from. ...
In some states, it also covers damage as a result of a hit-and-run. The payout is determined by your vehicle’s actual cash value (ACV) minus your deductible. Collision is one-half of what most insurance companies refer to as full coverage. Your lender will usually require collision and...
Physical damage to your vehicle or other property An independent insurance agent can further explain when you'd need to use uninsured motorist coverage to get compensated. What Is Underinsured Motorist Coverage? Underinsured motorist coverage is very similar to uninsured motorist coverage. But underinsure...
More specifically, liability insurance coverage covers vehicle and property damage. It is a required provision in virtually all auto insurance policies. What is bodily injury liability? This is another type of liability coverage, that covers the financial cost of an injury or even death as a ...