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Florida Auto Insurance COVERAGE DESIGNED WITH YOU IN MIND

 

Finding the right car insurance for you means staying up to date on Florida requirements. The table below lists the coverages and minimum coverage limits that are required in Florida. Keep in mind, however, that minimum coverage limits are just a starting point. You may want to consider increasing your coverage limits for greater protection. 

Contact us at The Roe Agency (239) 593-7333 to better understand the different types of coverage in your area.

Bodily Injury Liability
Helps cover expenses related to the injury or death of another driver or a pedestrian when an accident is your fault.
           
Not required            
Property Damage Liability
Helps cover expenses related to the damage of another person's property —
           
like vehicles, homes, buildings and other structures — when an accident is your fault.
           
$10,000 limit            
Uninsured Motorist
Helps cover your medical expenses if you're in an accident, the other driver is at fault and doesn't have any insurance.
           
Not required            
Underinsured Motorist
Helps cover your medical expenses if you're in an accident,
           
the other driver is at fault and doesn't have enough liability insurance.
           
Grouped with uninsured motorist coverage
           
Personal Injury Protection
If you and/or your passengers are hurt in an accident, this helps cover medical or funeral expenses.
           
$10,000 limit            
Collision
Helps cover expenses to repair or replace your vehicle that's been damaged in an accident.
           
Not required2            
Comprehensive
Helps cover expenses to repair or replace your vehicle that's been stolen or damaged by things like storms or vandalism.
           
Not required2            
             
             

 

 

 

 

 

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Florida Auto Insurance COVERAGE DESIGNED WITH YOU IN MIND

 

Finding the right car insurance for you means staying up to date on Florida requirements. The table below lists the coverages and minimum coverage limits that are required in Florida. Keep in mind, however, that minimum coverage limits are just a starting point. You may want to consider increasing your coverage limits for greater protection. 

Contact us at The Roe Agency (239) 593-7333 to better understand the different types of coverage in your area.

Bodily Injury Liability
Helps cover expenses related to the injury or death of another driver or a pedestrian when an accident is your fault.
           
Not required            
Property Damage Liability
Helps cover expenses related to the damage of another person's property —
           
like vehicles, homes, buildings and other structures — when an accident is your fault.
           
$10,000 limit            
Uninsured Motorist
Helps cover your medical expenses if you're in an accident, the other driver is at fault and doesn't have any insurance.
           
Not required            
Underinsured Motorist
Helps cover your medical expenses if you're in an accident,
           
the other driver is at fault and doesn't have enough liability insurance.
           
Grouped with uninsured motorist coverage
           
Personal Injury Protection
If you and/or your passengers are hurt in an accident, this helps cover medical or funeral expenses.
           
$10,000 limit            
Collision
Helps cover expenses to repair or replace your vehicle that's been damaged in an accident.
           
Not required2            
Comprehensive
Helps cover expenses to repair or replace your vehicle that's been stolen or damaged by things like storms or vandalism.
           
Not required2            
             
             

 

 

 

 

 

 

 

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Who Can I Name as a Beneficiary on My Life Insurance Policy?

 

When you get a life insurance policy you are required to name a beneficiary. Typically the person or people who receive the payout on your life insurance policy after you die. Some people choose to make the beneficiary a trust, charity or estate. 

You can also choose a percentage of the payout to go to different people. Typically the life insurance holder will be asked to pick two kinds of beneficiaries: a primary and a secondary. The secondary beneficiary will receive the payout if the primary beneficiary is deceased. 

The majority of people buy life insurance to provide for children who are left behind. Ordinarily, this is done by making the surviving spouse or caretaker the beneficiary. But what if you’re widowed or, both you and your partner pass away at the same time?

 

First, know that it’s not a good idea to name a minor as a beneficiary. That’s because the law forbids life insurance payouts to anyone who has not reached the age of majority, which is 18 to 21 depending on your state. If a child were to be named, then it would be turned over to probate court. The court will name a guardian who has oversight of the money/estate until the child comes of age.

Fortunately, there are two options. The first is to name an adult custodian. The custodian should be someone you can trust to use the money for things like housing, health care, and education until the child reaches the age of majority. At that point, any remaining money gets turned over the child and they can spend it any way they want.

The second option is to work with an attorney to set up a trust. In this scenario, the trust is the beneficiary and a trustee is named to manage and distribute the funds. The main advantage of a trust over naming a custodian is having more control.

Amanda Austin

 

Amanda Austin has good points about choosing the right beneficiary for your life insurance policy. She goes into more detail in her article found here:

https://lifehappens.org/blog/who-can-i-name-as-a-beneficiary-on-my-life-insurance-policy/

 

 

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