Throughout the past few years, state legislature set into place a series of regulations that control auto insurance claims in the State of Florida. Both the amount of compensation an accident victim can claim and the amount of time a claimant has to deal with the claim are limited. While these limitations prevent overpayment of auto insurance claims in Florida, some argue that the new regulations do nothing to benefit anyone involved in an auto accident.
Damage Caps to Limit Claim Payout in Florida
A serious automobile accident can result in millions of dollars in expenses. New limitations on coverage provided to accident victims can prevent the claimant or the family of the claimant from receiving every penny they deserve.
Damage caps are complicated and constantly changing. Often, the damage cap used to explain an exclusion does not match the type of claim filed. Always check to make sure the details match before accepting a limit to compensation for damages. These numbers are per person, per accident unless otherwise noted.
- 80,000: Underinsured or uninsured driver damages and property damage.
- 100,000: Negligence (up to 300,000 per claim).
- 250,000: Wrongful death & non-economic damages.
- 500,000: Combined property and bodily injury.
- 500,000: Economic Damage.
Time Limits for Acting Upon Your Rights as an Accident Victim
Your insurance company may have their own limits on time to file a claim, usually around 30 days. However, auto insurance claims in Florida are subject to several limitations on the amount of time you have to settle a claim. As with damage caps, not all cases are alike.
You have a specific amount of time to act upon your rights as an auto accident victim. These time limits are based on the date of the accident.
- Wrongful Death: 2 years
- Auto Accident Negligence: 4 years
- Underinsured/Uninsured Driver Caused Accident: 5 years
If your claim is dismissed outside of the statute of limitations, you could receive an extension if you can demonstrate that you did everything in your power to resolve the claim prior to the time limit.
What Your Lawyer Can Do To Help You
Damage caps and time limits for auto insurance claims in Florida are subject to change. Your lawyer will have access to the most up to date figures and can help you get the most from your claim. A lawyer will also know the best way to approach a time limit extension or negotiate for compensation beyond the damage cap.
