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Here in Southwest Florida, that is a genuine concern. If you live in Naples, Marco, Estero or travel to Miami, South Beach, West Palm or other areas here in Florida you drive right along side of Bentley’s, Ferrari’s, Aston Martin’s and many more cars that can cost upwards of a quarter million dollars.
If you have ever been involved in an accident where you were found to be at fault, you know its a hassle. But the problems begin to mount when the injured party’s insurance company finds that your coverage is not enough to cover the damages inflicted. This is where attorneys become involved, personal property and assets are at stake as well as future earnings. It is not a grey area you want to delve into.
Make sure you have enough property damage liability insurance. It can be set anywhere from $10,000, $20,000, $50,000, $100,000, $200,000, $300,000, and even $500,000. You may be thinking that the majority of accidents are not THAT expensive. The fact is in 2018 the average repair for an accident here in Florida is (according to Verisk Analytics company) $3500 in repairs and $15,443 for bodily injury.
The thing is it can be a lot higher. Taking a look at all factors:
Other factors that come into play:
For a minor accident, the average medical expenses were $2,713 in 2015, according to the NHTSA.
For a major crash, medical expenses at the top end went as high as $503,638. This would be an example of a spinal cord or head injury which can impact the quality of life and future earnings.
For a fatality, the average damages are a staggering $6,000,000
If you are in a major accident you will face:
Car repairs or replacement
Environmental costs (including environmental or clean-up costs)
Lost earning power
The possibility of lowered standard of living
Lost household income
Those need to be covered somehow and insurance is the very best way. The difference between amounts of coverage can be shockingly low and you can get more coverage than you might think for not that much more cost.
If you live in an area with higher end cars on the roads it’s wise to protect your investments and theirs. Talk with the agents at Centennial today. www.cisinsfl.com or call directly at (239) 247-5125.
I have found Chris to be extremely knowledgeable on Community Association insurance requirements and he has successfully presented proposals that provided better coverage and lower premium than the incumbent agency. His active involvement in assessing the Insurance needs of Communities managed by this firm has been an asset for both Moore Property Management and the purchasers of the insurance.
Chris Boston is our agent at Centennial. He does excellent work and always strives to save our association money. He always responds to emails. I highly recommend Chris and Centennial.
Chris Boston is Your Agent! I own a small condo development on Manasota Key and had been with the local insurance company for 14 years. This is my second year with Chris. He works very hard to get the best and lowest cost policies and is always responsive. I have saved substantially because he took the time to get to know the property and cost savings that were available. It’s all about customer service!
Its nice to have your expectations in a business not only met but exceeded! Centennial Insurance provided us with professional, friendly & effective service.