Again, this is another mistake BUT only one that can be cured BEFORE an accident. First, it is important to understand: what is bodily injury coverage? Generally, bodily injury coverage on a car in Florida indemnifies the insured (the owner and/or driver of the car) against a judgment for bodily injuries up to the policy limits for an accident that takes place during the policy term. It is important to note that these policies also provide for a duty to defend, which means the insurance company has to hire you a lawyer and pay any resulting court costs. “Indemnifying against judgment” is a fancy way to say that the insurance company will pay for a lawsuit that results in a judgment. The reason that insurance companies “settle” a case is that part of the settlement required to injured person to sign a release, which states they will not sue the owner/driver/insured. Thus, the insurance company satisfies its contractual obligation to indemnify against judgment, as the settlement is the proverbial “nipping in the bud,” in that since the injured person cannot sue pursuant to the settlement agreement and thus the insurance company has prevented suit and any resulting judgment. While it seems the bodily injury insurance “protects” the person that you have injured, and there is some truth to that, but it really protects the person that purchases the insurance in that if suit is filed, it pays for a lawyer and protects their assets against the suit. If you were not to purchase bodily injury insurance in Florida, you could be sued for injuries where you would have to hire a lawyer and pay for it and, if the injured person won the case, you would have a judgment entered against you which could effect your credit and more so could result in the injured person effectuating collection remedies against you (garnishing wages, garnishing bank accounts, attaching assets, and so forth). Thus, purchasing of bodily injury coverage is very important. Further, there are certain administrative remedies in Florida that would be put on you, which go a bit beyond the scope of this blog entry. In the next blog entry, we will discuss how much bodily injury coverage to purchase.
If you have been injured in an accident and believe another person or company may be at fault, please call Drucker Law Offices at 561-483-9199 or 954-755-2120, 305-981-1561, or 561-967-3840 – Principal office in Boca Raton plus satellite offices in Miami, Coral Springs, Boynton Beach, Lake Worth and West Palm Beach. Drucker Law Offices and Attorney Gary J. Drucker only charges its clients fees and costs if it recovers money for them. Attorney Gary Drucker offers a free consultation in any of the offices referenced above or at your home or in the hospital. Please call the law firm to set an appointment today!
It is important to note that every case is different and unique and should be judged based on the specific facts. Here we are talking about the purchase of bodily injury coverage and this is something that you should discuss with your insurance agent and any financial advisers prior to doing so. The discussion in this blog is intended to be general in nature and should not to be construed as specific for your case, as a minor difference in the facts of the case could completely change the result. Also, this blog is, as the web site suggests, based on Florida law and the laws of any other states or even another country could vary drastically from Florida. Please feel free to call with your questions, as I offer a free consultation.
