Which Type of Florida Car Insurance Policy is Right for You?

Everybody needs car insurance. It’s not an opinion, it’s actually the law in nearly every state in the country. Because of this, auto insurance companies like FloridaInsuranceQuotes.net, offer customers a plethora of options to choose from when selecting their coverage. Car insurance policies are not one size fits all, some drivers may need more intense coverage than others.

Insurance rates have be on the incline over the years auto insurance, Florida resident have surly noticed, has been no exception. Car insurance prices and rates will be based heavily on any perceived risk the policy holder may be in. Driver statistics can effect policy rate. Younger drivers, those with less experience behind the wheel, may be facing a higher rate than those who have been driving for decades. Certain types of cars also carry heavier rates than others. Vehicles with four wheel drive will often carry a higher rate as will sports cars and convertibles.

But one of the things that will most effect the cost of insurance from driver to driver is the type of coverage purchased. Here are just a few policy options that are on the market today for Florida drivers.

No. 1: Liability Insurance

When a state law requires drivers to have car insurance, they are almost always referring to liability insurance. Liability insurance will cover costs associated with an accident if the policy holder is decided to be at fault for the damages. Liability will not cover any type of weather damage or losses due to theft. It will, however, pay for repairs for damage done to another’s property in the case of a collision. This includes damage to buildings or medical bills accrued due to injury for the other driver.

It is often a good idea to go a bit beyond the minimum requirements when purchasing liability insurance. The more liability insurance owned, the more money that will be provided in the case of an accident.

No. 2: Collision

The main problem with only having the minimum requirement of liability insurance, is any damage done to your own personal car will not be covered in the case of an accident. Liability will only pay for damage to the other involved person’s property.

Anyone who relies heavily on their car for work would be wise to have at least collision as well as liability. This means any damage done to your property will also be covered. This will help those who need their car get back behind the wheel quickly and without having to pay large out of pocket expenses to get on the road again.

No. 3: Comprehensive

Comprehensive coverage is a policy of auto insurance Florida drivers should never go without. This coverage will pay for the repair of any damage done to the car in the case of damage caused by weather or similar natural disaster. This includes fires, falling trees or limbs, or flooding. Comprehensive coverage is also the policy that will also cover theft. If a car is stolen, even if unrecovered, cheap auto insurance in Florida will help pay to replace any stolen parts or even, in some cases, the entire car.

Unfortunately, because of its wide span of coverage options, comprehensive coverage can be a pricey addition if added to an auto insurance plan.

No. 4: Gap

Gap insurance is often the additional coverage that will be required by loan offices when purchasing a new car. If you are still making payments on a car and owe more to the dealership than the car is currently worth (due to deflating prices on new cars) gap insurance can help make up this difference in the case of an accident. Because most insurance types will only cover the value of the car, not the price to actually replace it with a similar car, gap coverage can often be a good choice. It will make up for the value owed on the car as opposed to the blue book value of the car.

Looking for a whole life insurance quote for Florida?

No one likes to focus on nasty details or terrible things, but when it comes to things like life insurance you can’t really afford to turn a blind eye, as they say.  Moreover, if you have a family then life insurance will provide that extra bit of safety, security and comfort which they will turn to in the event of the unfortunate.  Florida features a large number of life insurance providers who deal in whole life policies, all you have to do is gather up some quotes and contrast / compare…

What is whole life insurance, anyway? 

Just as its name implies, “whole life” insurance is something that is meant to cover you for your entire lifespan.  As opposed to other types of insurance, like term, a whole life policy will likely require that your front yearly premiums, which is largely what provides these companies with the incentive to offer their services in the first place.  Actual stipulations will vary widely, and as expected there are a nearly limitless number of additional things to consider, like what type of whole life policy is right for you as well as guarantees, requirements and more.

Here are some of the basic types of additions made to typical whole life insurance quote for florida from FloridaInsuranceQuotes.net which you should definitely take note of:

  • Limited pay – more or less the same as any other participating policy only the costs might end up being lower later on.  The trade-off here is that a higher initial series of payments might be required.
  • Single premium – this refers to a policy where generally only a single (usually quite large) premium payment is required.
  • Participating – instead of a static return, a participating policy allows policy holders to share in the company’s profits, which is great if your provider suddenly has a windfall of success years after you signed with them.
  • Non-participating – these types of policies generally remain active for their entire life and tend not to be altered in any way.
  • Indeterminate premium – with this option you will have a guaranteed maximum premium amount to cover, however if things go well for the provider this cost might actually lower significantly with no loss of coverage.
  • Economic – this is essentially a hybridization of term insurance and various “participating” models.  The only pitfall here is a slumping return from the latter years of any particular policy, largely due to economic shifts and company missteps.
  • Interest sensitive – this type of policy was designed to match the moves of international markets and as its name implies, is interest sensitive with regards to the policy’s actual value (at any given time).

One should always very carefully evaluate all of one’s needs and read all the fine print associated with any policy before making any lifelong decisions.  Failure to include some provision might result in the loss of thousands of dollars of future returns.  Visit FloridaInsuranceQuotes.net for more info.

Florida KidCare

Florida KidCare is the state’s children’s health insurance program. It provides health insurance for children in Florida that are currently uninsured. It was created in 1998 and reauthorized through 2019. Funding for KidCare was recently reauthorized for another two years. Over $500 million was appropriated during the current reauthorization to help Florida parents, who have no other form of insurance coverage, with the costs of health insurance coverage for their child.

Who Qualifies

To qualify for KidCare, the child needs to be under the age of 19. Also, the child has to be a citizen or a qualified non-citizen. For a child to qualify, he or she cannot be placed in a public institution. Qualification is also determined by household income and household size. For example, for a family of four, the maximum household income is $47,400.

How It Works

KidCare provides affordable, low-cost health insurance to almost 2 million children in Florida. KidCare uses a sliding scale to determine how much a family will have to pay in premiums per child. Some families pay nothing, while others pay around $15-20 a month. All sources of income have to be verified as part of the application process. Information that will be required as part of the application process includes: any household income including child support (pay stubs from the last 4 weeks, current tax returns including W-2s), social security number for the child for which you are applying, and amount of daycare/ afterschool care that you pay.

What Benefits Are Covered

Florida KidCare offers a comprehensive package. It covers checkups, immunizations, surgery, hospitalization, and prescriptions. It also covers dental, vision, hearing, emergency transportation and behavioral health. Some services may require a small co-pay. A full pay option is available to parents who need to provide insurance coverage for their children, options are available at https://floridainsurancequotes.net/health-insurance-quote/ sometimes they  do not qualify for the reduced/ free insurance coverage and do not have any other source of insurance coverage.

4 Components

There are four components to KidCare. Medicaid covers children from birth to age 18 and is available to families with low income. MediKids offers coverage from ages 1-4 ($159/month full pay option with dental). Healthy Kids provides coverage for children ages 5-18 ($133/ month full pay with dental). Healthy Kids is administered by Florida Healthy Kids Corporation. The final component is the Children’s Medical Services Network. This program offers medical coverage for children with special healthcare needs through age 18. Children must qualify financially and medically. CMSN financial qualification’s upper limit is set at 200% of the federal poverty level. If a child does not qualify financially, there is no full payment option for CMSN, but there may be eligibility for select health services, depending upon funding availability. Medical qualification is determined by the completion of an eligibility screening tool that is administered by nurses employed by CMSN.

Enrollment/ Re-Enrollment Process

All applications are screened for qualification for Medicaid and CMSN. Applications can be completed online or by contacting county health offices. All children must be re-enrolled each year on the anniversary of initial enrollment. Current income documentation must be submitted at the time of re-enrollment.

Every Child Should Have Health Insurance in Florida

It has been estimated that over 800,000 children don’t have health insurance coverage in Florida. With the availability of Florida Kidcare this shouldn’t be. The state of Florida is working hard to provide affordable health insurance to the uninsured children within the state. A child should not go without healthcare. Not having health insurance should not be a reason for a child not receiving the healthcare he or she needs. Florida KidCare eliminates that reason.