Have you ever taken time to review the exclusions on your insurance policy?
Whether it is car, homeowner’s, disability or any other policy, insurance companies place exclusions on policies to protect themselves from risk.
This may restrict your coverage in an unforeseeable loss.
Some insurance policy exclusions are common to most companies, but others may be exclusive to a particular provider. Reading the fine print in any contract is important and beneficial. Rules and regulations vary by state, and Floridians can view the state statutes about insurance policy exclusions here.
If you have had difficulty processing an insurance claim, or are in dispute with your insurance company over the denial of a claim, you may want to consider contacting an experienced insurance attorney. They may be able to help you understand your legal rights and assist in negotiating the process of a bad faith claim.
Car Insurance Exclusions
Car accidents can happen at any moment and can have devastating effects. Auto insurance is designed to leave you protected against unexpected events, but you may be surprised when you attempt to file a claim after an accident and discover basic conditions are excluded.
One common exclusion for many insurance providers is for “hire vehicles.” If you collect a fee for loaning a friend your vehicle it can be considered a hire vehicle and your car insurance may have exclusions against repaying for an accident.
Exclusions You Should Look for On Your Car Insurance Policy
Before signing a car insurance policy, take a few minutes to read through and look for the following exclusions against:
- Accidents involving family members, often called a “family” or “household” exclusion.
- Commercial purposes, such as carrying property for a fee.
- Leasing or renting your personal vehicle to someone.
- Damage due to wear and tear, mechanical or electrical break down, or weather conditions.
- Road damage to tires.
- Reimbursement of custom furnishings, murals, paintings decals or graphics in the event of damage or an accident.
- Reimbursement of modified mechanics or car parts, such as a custom or aftermarket engine, exhaust system, wheels, or tires.
All Florida drivers are required to carry a minimum of $10,000 in Personal Injury Protection (PIP) in their insurance policy. Although motorcycle insurance is highly recommended, motorcyclists are not required to carry a specific type.
There are different motorcycle coverages which may reimburse up to 80% of medical bills and 60% of lost job income in the event of an accident. Bodily injury liability coverage pays for injuries that happen to passengers. For Floridians under 21, the required motorcycle insurance coverage is $10,000 for the rider and $20,000 for passengers.
If you’ve been injured in a motorcycle accident and are processing a claim which has been denied you may benefit from legal advice, especially if a passenger was injured.