What if insurance isn’t enough to cover your post-crash costs?

Financial concerns are a common first response after a car crash. Once you know everyone is safe, you will probably start imagining the impact of the crash on your life. Thinking about how much it will cost to fix your car and wondering how much medical costs will end up being can add stress to an already difficult situation.

Generally speaking, you can count on motor vehicle liability insurance to protect you from financial devastation after a collision. The policy of the driver who caused the crash will be the one that pays out in most cases. Even if you submit a claim to your own policy, they will likely subrogate the claim by pursuing compensation from the other driver’s insurance company.

However, there are noteworthy limits to how much protection you have for losses after a crash. It is entirely possible for you to wind up without enough coverage and facing expenses that you have no way of covering.

Florida’s car insurance requirements can leave gaps in protection

The insurance that drivers carry protects them from financial losses if they cause a crash and protects people who get hurt or suffer property damage from needing to cover those costs themselves. Although insurance primarily serves to protect the person who carries the policy, many people carry as little insurance as they legally can.

Florida only requires $10,000 in personal injury protection and $10,000 in property damage liability coverage. A single trip to the hospital could cost you far more than $10,000, and replacing your vehicle could also easily exceed that amount of coverage.

What can you do when a driver’s coverage isn’t high enough?

If the person who caused your crash does not have enough insurance to pay your medical bills, cover your lost wages and replace your vehicle, there are several options available to you. You shouldn’t have to accept those financial losses caused by someone else.

You may be able to make a claim against your own policy if you have uninsured or underinsured driver protection. You may also be able to bring a personal injury claim against the other driver. Before you make any decisions about compensation, you will need to look at your medical records and vehicle repair estimates to determine how much compensation you need.