Florida Auto Insurance Laws: Gap insurance and emergency roadside service

Florida Auto insurance laws require that you must have Collision insurance. Most auto dealerships require it when purchasing a car. And most will agree that if you have a new car, you should have Collision coverage.

Do you really need it? If you’re unfamiliar with auto insurance riders and what they cover, don’t worry, you’re not the only one. Additional options can be added to your insurance policy and tailored to the type of insurance coverage that meets your needs.

Gap Insurance is an optional form of auto insurance in Florida. This type of insurance coverage is typically purchased when you buy a new vehicle and are facing a long term loan. In most cases, a small or no down payment has been made. If your car’s damaged in an accident in Florida and you have Collision coverage, your insurance will pay for the amount of money it will cost to repair your car, but if it can’t be repaired or if your car’s stolen, without gap insurance, your insurance company will only pay the cars actual worth. The minute you drive your car off the dealer’s lot, it starts to depreciate. The amount of Collision coverage you receive depends on the type of policy, your vehicle and its value. Gap insurance is something you should consider if you’ve just bought or about to buy a brand new car. With gap insurance, your Florida Auto insurance company pays the difference of the value of your vehicle at the time of loss and your auto loan will be paid off. Gap insurance is the type of coverage that many people overlook or think that it’s not necessary until it’s too late.

Emergency roadside service is a minimal cost and most Florida car insurance companies offer it as an option. If you don’t already subscribe to a roadside service such as AAA, you should consider taking the coverage your insurance company offers, but compare their service with other auto clubs and determine what coverage is right for you. Having the peace of mind that comes with knowing you’ve covered your bases in the event of an accident or vehicle break down is worth looking into. Some companies offer towing and labor coverage which does not include roadside assistance. Coverage can vary and you should make sure you and your family’s covered in any type of roadside emergency. Some insurance plans even offer a bond and legal service in the event you are arrested during a traffic related violation. You can also get discounted rates at certain hotels, movies and restaurants with some emergency roadside services and auto clubs. Long distance roadside service when you’re away from home and rental reimbursement are important items that should be included in your policy. Read your policy carefully, shop around and compare with other roadside assistance programs that may offer a wider variety of services. Find out if there are any restrictions with your current policy so you can make an informed decision that will benefit your entire family.