Frequently Asked Questions

Frequently Asked Questions About Florida Insurance

Auto Insurance Questions

How Much Does It Cost To Insure My Automobile?

There are several factors considered in an automobile quote: age of drivers, traffic violations, traffic accidents, number of vehicles, make/model, etc. In order for us to provide you an accurate insurance quote, we will need to collect your information.

What Are The State Minimum Requirements For Florida?

The State of Florida requires limits not less than $10,000 Property Damage and Personal Injury Protection (PIP). PIP is a coverage provided in Auto policies in the state of Florida that provides coverage for the insured’s own injuries on a first-party basis, without regard to fault.

What Is Covered By A Basic Auto Insurance Company?

Your auto policy may include six coverages. Each coverage is priced separately.
1. Bodily Injury Liability

This coverage applies to injuries that you, the designated driver or policyholder, cause to someone else. You and family members listed on the policy are also covered when driving someone else’s car with their permission.

It’s very important to have enough liability insurance, because if you are involved in a serious accident, you may be sued for a large sum of money. Definitely consider buying more than the state-required minimum to protect assets such as your home and savings.
2. Medical Payments or Personal Injury Protection (PIP)

This coverage pays for the treatment of injuries to the driver and passengers of the policyholder’s car. At its broadest, PIP can cover medical payments, lost wages and the cost of replacing services normally performed by someone injured in an auto accident. It may also cover funeral costs.
3. Property Damage Liability

This coverage pays for damage you (or someone driving the car with your permission) may cause to someone else’s property. Usually, this means damage to someone else’s car, but it also includes damage to lamp posts, telephone poles, fences, buildings or other structures your car hit.
4. Collision

This coverage pays for damage to your car resulting from a collision with another car, object or as a result of flipping over. It also covers damage caused by potholes. Collision coverage is generally sold with a deductible of $250 to $1,000—the higher your deductible, the lower your premium. Even if you are at fault for the accident, your collision coverage will reimburse you for the costs of repairing your car, minus the deductible. If you’re not at fault, your insurance company may try to recover the amount they paid you from the other driver’s insurance company. If they are successful, you’ll also be reimbursed for the deductible.
5. Comprehensive

This coverage reimburses you for loss due to theft or damage caused by something other than a collision with another car or object, such as fire, falling objects, missiles, explosion, earthquake, windstorm, hail, flood, vandalism, riot, or contact with animals such as birds or deer.

Comprehensive insurance is usually sold with a $100 to $300 deductible, though you may want to opt for a higher deductible as a way of lowering your premium.

Comprehensive insurance will also reimburse you if your windshield is cracked or shattered. Some companies offer glass coverage with or without a deductible.
6. Uninsured and Underinsured Motorist Coverage

This coverage will reimburse you, a member of your family, or a designated driver if one of you is hit by an uninsured or hit-and-run driver.

Underinsured motorist coverage comes into play when an at-fault driver has insufficient insurance to pay for your total loss. This coverage will also protect you if you are hit as a pedestrian.

Insurance Information Institute

What is Gap Insurance?

If a loss occurs, GAP insurance will pay the difference between the actual cash value of the vehicle and the current outstanding balance on your loan or lease. Many car insurance companies offer a GAP option as an optional coverage that is available with physical damage coverage. The Petrucci Agency does not offer Gap Insurance. Typically, a stand alone gap coverage GAP policy is sold by a car dealer.

What is No-Fault Insurance?

No-Fault laws attempt to remove certain claims from the tort liability system and to substitute a system of benefits payable by one’s own company.

The main elements of the Florida law include:

1. Those who are subject to the law, and comply with the law, are not subject to legal liability for causing bodily injuries to others, regardless of fault.

2. As one may not be able to seek liability damages against another for bodily injuries, the law substitutes, under one’s own insurance, a covered named “Personal Injury Protection” (PIP). This coverage provides first-party benefits for economic loss, without regard to fault.

3. The law requires that PIP insurance be carried by the owners of motor vehicles, and impose penalties for failing to do so.

The No-Fault law has nothing to do with property damage. It applies to bodily injury claims only.

Uninsured Motorists/ Underinsured Motorists Coverage?

Unisured Motorists coverage (UM) is a form of coverage to pay compensatory damages for bodily injuries, under one’s own policy, for amounts which would otherwise have been recovered from the liability insurance of another- either an uninsured motorist, or one who carries liability limits that are lower than the insured’s damages.

Generally, coverage applies to the named insured and family members in their own vehicles, in any other vehicle, and as pedestrians. Other persons are covered while occupying the named insured’s vehicle.

The injury must be caused by a vehicle that does not have liability insurance or liability insurance with a limit that is lower than the insured’s damages. Additionally, coverage applies if the other party’s liability insurer is insolvent or if the other vehicle is a “hit-and-run” (and thus cannot be identified).

Boat Insurance Questions

What Types Of Boats Do You Insure?

We will find carriers for any type of boat you may have. We have a market for your fishing boat, yacht and anything in between.

Why Do I Need Boat Insurance?

The State of Florida does not require you to carry boat insurance, but we highly recommend it. We recommend that you carry bodily injury liability, property damage liability, medical payments, comprehensive coverage, collision coverage, and Unisured Boater.

Will You Insure My Jet Ski?

Yes, we will insure your jet ski and other recreational vehicles you may have. We insure motor homes, golf carts, motorcycles, etc.

Business Insurance Questions

I Am In The Construction Industry. When Am I Required To Carry Workers Compensation Coverage?

Per the State of Florida guidelines located on the Florida Division of Workers Compensation website, workers compensation coverage requirements vary from construction to non-construction and agricultural industry and out-of-state employers.

Construction Industry- An employer in the construction industry who employs ONE or more part or full-time employees MUST obtain workers’ compensation coverage. Sole Proprietors, partners and corporate office are considered employees. In the construction industry ONLY, member of a limited liability company are considered corporate employees. Corporate officers may elect to exempt themselves. A construction industry contractor, who sub-contracts all or part of their work, must obtain proof of workers’ compensation coverage or a Certificate of Election to be Exempt from all sub-contractors, prior to work being done. If the sub-contractor is not covered or exempt, for purposes of workers’ compensation coverage, the sub-contractor’s employees shall become the employees of the contractor. The contractor will be responsible to pay any workers’ compensation benefits to the sub-contractor and its employees.

For more information on WC coverage requirements, visit

What Is Business Insurance?

There are many types of coverages that fall under the term Business Insurance. Some examples are:
-Commercial General Liability
-Commercial Property
-Workers Compensation
-Professional Liability
-Product Liability
-Business Owners Policy (BOP)
-Employment Practices Liability

And there are so many more… For a more comprehensive list of business insurance or for more information, please contact us!

What is Employment Practices Liability or EPLI?

Employment Practices Liability or EPLI is a policy that protects against claims and lawsuits brought against a business (its officers, directors, managers, and/or employees). EPLI covers for things like:
-Discrimiation (Gender, age, etc.)
-Sexual Harassment
-Negligent Company Behavior in regards to compensation, hiring decisions, promotions, etc.
-Wrongful termination

And there are so many more… For a more comprehensive list of what EPLI covers, please give us a call or complete an online quote!

Some benefits to an EPLI policy… Most cover the cost of defense, cost of judgments and settlements. Also, many EPLI offers a third-party HR consultant which can help you through the maze of HR questions, guidance and procdures. This is a huge benefit for small business who do not have a Human Resources Department.

Life Insurance Questions

How do I protect my loved ones if I die?

Life Insurance is a financial resource available for your family in the event of your death. Life Insurance is a contract: it provides your beneficiaries with a certain amount of money and you provide premium payments. The premium amount is based on factors such as your age, gender, medical history, and the dollar amount of life insurance you purchase.

What Are My Life Insurance Options?

Term Life Insurance
There are several types of life insurance to choose from. Term life insurance is available for those who wish to insure for a certain period of time with low payments. Typically, the term life insurance period is 20 years. Once the premium payments stop, the insurance is no longer in force. Term life insurance does not build cash value.

Whole Life Insurance
Whole Life Insurance policies accumulate cash value over a period of time. The premiums do not change and the cash value accumulation is tax-deferred. Also, you may borrow or withdraw money against the accumulated cash value. Whole Life Insurance or Permanent Insurance has a variety of options and all can be explained by our agents.

What If I Already Have Insurance?

Life happens. If you currently have life insurance, there are life changes that may warrant more protection:
• Recently marriage or divorce
• A child has been born or adopted
• Your health or your spouse’s health has deteriorated
• Care of a parent
• The purchase of a new home
• College or other school tuition

These are just a few examples of life changes that you may want to consider if you already have a life insurance policy in place. You can trade or replace an existing policy. Seek advice from an agent to provide you the guidance to trade or replace an existing policy.

There are many types of life insurance policies. To get more information, please call the Petrucci Agency today! We are here to help and to explain the choices available for you.

What Is The Dollar Amount Of Life Insurance That I Need?

When deciding the amount of life insurance to purchase, you should consider your current income, your dependants (spouse, children, aging parent, etc), expenses above your cost of daily living (tuition or care of a parent), your savings, your estate and your business, if you own a business.

Flood Insurance Questions

Can I Get Flood Insurance If I Am Renting A Property?

If you live in a community that participates in the NFIP, you can get flood insurance to cover the contents in your home or business.

Doesn’t My Homeowner’s Insurance Policy Cover Flooding?

No, flood damage is not typically covered by a homeowner’s insurance policy.

How Can I Purchase More Flood Insurance Over What The Nfip Offers?

Many private insurance companies offer Excess Flood Protection , which provide limits over and above those of the NFIP.

Why Do I Need Flood Insurance? I Do Not Live In A Flood Zone.

Almost everyone lives in a flood zone. It is just a matter of if you live in a low-to-moderate or high risk flood zone.

Why Does My Mortgage Holder Require Me To Buy Flood Insurance?

Under Federal Law, the purchase of flood insurance is mandatory for all federal or federally financial assistance for the acquisition and/or construction of buildings in high-risk flood areas.