How Florida PIP Changes Will Affect Your Insurance Premiums
On July 1, 2012, Florida residents were met with new changes to the Personal Injury Protection coverage found in their insurance. With the new laws put in place, the requirements for receiving a payout of $10,000 to cover medical expenses were changed. Now, residents are faced with more difficulty getting the payout they need to cover their medical expenses after a car accident in Florida.
These changes have left many of our clients with questions about what changes they can expect to see to their existing coverage. You may expect to see a decrease in your premium; however, this is not the case. Half of the early filings actually show increases of up to 26%, yet insured parties are may only be eligible to receive $2,500.
While you may not notice any decrease in your monthly insurance payments, here are a few things you may be met with if you are ever in a Florida car crash.
- Existing policies affected - Some people are under the impression that the new PIP laws only go into effect for new policy holders. This is not the case. Your existing policy will also be affected, even if your insurance company does not tell you.
- Decreased coverage - Your monthly premiums may not change but the level of coverage you will receive following a car collision in Florida will. Under the new PIP laws, you cannot receive the $10,000 of medical coverage you were initially promised as easily. Now, you will only have rights to $2,500 in medical coverage unless you have been deemed to have an "emergency medical condition" by a doctor.
- Incentives for specific doctors - Because your condition must be considered an "emergency medical condition" by a doctor, your insurance company will give you incentives to go to a specific list of doctors. This can be because the doctor receives the majority of patients after Florida car accidents and, therefore, they are less likely to pronounce you with an "emergency medical condition."
The new Florida PIP laws are tricky and can leave you uncertain of the coverage you are paying for. If you have any questions, please contact Florida car accident attorney David Glatthorn for help with your case.