INSURANCE CORNER: Miscellaneous vehicle insurance issues that could be relevant

I am going to devote the next several articles to coverages on the various insurance policies, starting with personal auto, homeowners and then commercial business policies. Before that, however, I thought I would address some miscellaneous issues that come up from time to time.

The first deals with an issue in an adjacent state, Florida. Whether you are aware of it or not, Florida has a mandatory insurance law, like Georgia, but bodily injury liability coverage is not a mandatory coverage there like it is in Georgia.

The mandatory coverages are personal injury protection and property damage. That means if you are in Florida or get hit by a Florida insured who only has the required coverage, you have no recourse to collect from that insured for your injuries if they are at fault in an accident.

If you frequently drive in Florida, or have a son or daughter who is in school in Florida, you need to make sure you carry uninsured/underinsured motorist liability coverage. If you carry medical payments coverage, that will cover some minor injuries but will not compensate you for significant bodily injury. If this situation applies to you, call your agent or company to make sure you are protected.

Another issue that deals with uninsured motorist property damage coverage could save you a little bit of money on your insurance bill. Uninsured motorist property damage protects your property, usually your vehicle, if it is hit by someone who is uninsured or whose property damage liability limit is below what it would cost to replace or repair your vehicle. Many people who carry bodily injury liability and property damage liability limits of $100,000/$300,000/$100,000, match that limit in their uninsured/underinsured motorist limit. That last $100,000 is protection for your vehicle. But if it is worth far less than $100,000 why bother to carry that high a limit? If your car is worth less, carry a lower limit and save a little money. Also consider increasing the deductible on this coverage to $500 if you are currently carrying $250. These are not big premium adjustments but every little bit helps.

The last issue deals with older drivers. If you are in your 60s, please get auto insurance with a company you can count on as you get older. Many companies restrict coverage for drivers over 70. Also your rate with a company you have been with for several years is typically much more affordable than shopping for a new company. If you are a good driver, your current company has the history on your loss experience, and a new company is looking at its statistics of diminishing experience as a driver over 70 ages. Just some thoughts.

Dave Pushman is the former regional vice president of Geico in Macon and is now an independent insurance agent with Tidwell and Hilburn Insurance. He can be reached at davep@th-ins.com.

This story was originally published December 1, 2015 at 9:44 PM with the headline "INSURANCE CORNER: Miscellaneous vehicle insurance issues that could be relevant ."