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Accident: A sudden and unintended impact at a specific time and location. Car accidents are an
unfortunate part of life almost every driver will experience at some time. A Florida car insurance policy
provides for monetary compensation related to auto accidents.
Actual Cash Value (ACV): The value to replace an object less depreciation. This is the formula most
often used to determine the value of a vehicle after a loss and is part of the basic principles of Florida
car insurance. Less common are car insurance policies that value a vehicle by a stated or agreed
amount.
Binder: Document indicating insurance coverage in effect prior to issuance of an insurance policy. A
binder is sufficient proof of a Florida auto insurance policy in most circumstances. If a Florida FR-44 for
DUI drivers or a Florida SR-22 requirement becomes necessary, the DMV requires proof to be provided
by the insurance company in an electronic format.
Bodily Injury Liability: Insurance coverage that protects the policyholder in the event bodily injury
causes harm to another. It’s critical to secure the right amount of insurance coverage to properly
protect against law suits should you injure someone in an at-fault accident.
Broker: A person or entity which facilitates the transaction of insurance between the policyholder and
insurance company. Florida Auto Plus Insurance is classified as a resident licensed insurance agency
in Florida.
Certificate of Financial Responsibility: A document indicating insurance coverage required by and
submitted to a governing authority. Florida form SR-22 and Florida form FR-44 are the two common
documents used to provide proof of insurance to the Florida DMV. Certification of responsibility through
these documents are only required for drivers meeting certain criteria.
Clue Report: An acronym for claims loss underwriting exchange and utilized in the underwriting
process. Information uncovered in the CLUE report may affect the car insurance premium. It’s important
to ask questions regarding car insurance quotes and the reports used to calculate rates. Incorrect
information on reports can lead to an unfair rate being applied.
Collision Insurance: Physical damage coverage for an automobile in the event another object is
struck. This is one of the basic types of coverage available on a car insurance policy. It’s important to
learn the basics of car insurance before making a purchase. An educated consumer always has an
advantage.
Comprehensive Physical Damage: Insurance coverage for an automobile from physical damage or
loss resulting from something other than a collision e.g. theft, fire.
Declarations Page: The part of an automobile insurance contract that identifies the characteristics of
a specific risk. Lots of documents and papers are part of your Florida car insurance policy but the
declarations page is the most important. Keep them in a safe place and hold on to previous ones as
your policy renews. Companies typically increase discounts the longer you have continuous insurance
without a lapse. Have the proof you need to keep your car insurance cost low for life.
Deductible: The portion of damages paid by the policyholder before the insurance contract begins to
pay. Choosing a deductible that best suits your needs will depend on your budget and tolerance for
risk. When shopping for a Florida car insurance quote compare the same coverages and deductibles
for a proper comparison.
Electronic Funds Transfer: A convenient and automatic method of remitting insurance premium to
the company. Insurance companies tend to retain their policies longer when this method of payment is
utilized. Most companies will offer a Florida car insurance quote with a discount for this payment method.
Endorsement: A change to the initial insurance contract. Many different types of changes on the car
insurance policy will result in a premium adjustment which is applied pro-rata. If the garaging address
on the policy changes from Tallahassee to a car insurance policy in Miami, the premium will increase
but only for that period while in Miami.
Exclusion: A situation or event that is not covered by the insurance policy. Understanding exactly what
is and what is not covered in your car insurance policy will help you at the time of an accident or loss.
Understanding all the Florida auto insurance basics will encourage a pleasant auto insurance policy
experience.
Hard market: A condition in the insurance marketplace where available insurance is in short supply
and expensive.
Lapse: A termination of a policy due to non-payment of premium.
Lien holder: The person or entity which has a legal claim to someone else’s property.
Medical Payments Insurance: A reimbursement for medical or funeral expenses due to bodily injury
from an accident without regard to fault.
Named Non-Owner Policy: An auto insurance policy for someone who does not own a motor vehicle
but drives someone else’s car or is mandated to secure a policy to maintain a driver’s license.
No-Fault Auto Insurance: Auto insurance which pays for medical and funeral expenses due to bodily
injury after an accident regardless of fault.
Uninsured Motorist Coverage: Optional coverage that provides benefits for bodily injury in the
event an at-fault driver has no liability limits or was a “hit and run” driver.
unfortunate part of life almost every driver will experience at some time. A Florida car insurance policy
provides for monetary compensation related to auto accidents.
Actual Cash Value (ACV): The value to replace an object less depreciation. This is the formula most
often used to determine the value of a vehicle after a loss and is part of the basic principles of Florida
car insurance. Less common are car insurance policies that value a vehicle by a stated or agreed
amount.
Binder: Document indicating insurance coverage in effect prior to issuance of an insurance policy. A
binder is sufficient proof of a Florida auto insurance policy in most circumstances. If a Florida FR-44 for
DUI drivers or a Florida SR-22 requirement becomes necessary, the DMV requires proof to be provided
by the insurance company in an electronic format.
Bodily Injury Liability: Insurance coverage that protects the policyholder in the event bodily injury
causes harm to another. It’s critical to secure the right amount of insurance coverage to properly
protect against law suits should you injure someone in an at-fault accident.
Broker: A person or entity which facilitates the transaction of insurance between the policyholder and
insurance company. Florida Auto Plus Insurance is classified as a resident licensed insurance agency
in Florida.
Certificate of Financial Responsibility: A document indicating insurance coverage required by and
submitted to a governing authority. Florida form SR-22 and Florida form FR-44 are the two common
documents used to provide proof of insurance to the Florida DMV. Certification of responsibility through
these documents are only required for drivers meeting certain criteria.
Clue Report: An acronym for claims loss underwriting exchange and utilized in the underwriting
process. Information uncovered in the CLUE report may affect the car insurance premium. It’s important
to ask questions regarding car insurance quotes and the reports used to calculate rates. Incorrect
information on reports can lead to an unfair rate being applied.
Collision Insurance: Physical damage coverage for an automobile in the event another object is
struck. This is one of the basic types of coverage available on a car insurance policy. It’s important to
learn the basics of car insurance before making a purchase. An educated consumer always has an
advantage.
Comprehensive Physical Damage: Insurance coverage for an automobile from physical damage or
loss resulting from something other than a collision e.g. theft, fire.
Declarations Page: The part of an automobile insurance contract that identifies the characteristics of
a specific risk. Lots of documents and papers are part of your Florida car insurance policy but the
declarations page is the most important. Keep them in a safe place and hold on to previous ones as
your policy renews. Companies typically increase discounts the longer you have continuous insurance
without a lapse. Have the proof you need to keep your car insurance cost low for life.
Deductible: The portion of damages paid by the policyholder before the insurance contract begins to
pay. Choosing a deductible that best suits your needs will depend on your budget and tolerance for
risk. When shopping for a Florida car insurance quote compare the same coverages and deductibles
for a proper comparison.
Electronic Funds Transfer: A convenient and automatic method of remitting insurance premium to
the company. Insurance companies tend to retain their policies longer when this method of payment is
utilized. Most companies will offer a Florida car insurance quote with a discount for this payment method.
Endorsement: A change to the initial insurance contract. Many different types of changes on the car
insurance policy will result in a premium adjustment which is applied pro-rata. If the garaging address
on the policy changes from Tallahassee to a car insurance policy in Miami, the premium will increase
but only for that period while in Miami.
Exclusion: A situation or event that is not covered by the insurance policy. Understanding exactly what
is and what is not covered in your car insurance policy will help you at the time of an accident or loss.
Understanding all the Florida auto insurance basics will encourage a pleasant auto insurance policy
experience.
Hard market: A condition in the insurance marketplace where available insurance is in short supply
and expensive.
Lapse: A termination of a policy due to non-payment of premium.
Lien holder: The person or entity which has a legal claim to someone else’s property.
Medical Payments Insurance: A reimbursement for medical or funeral expenses due to bodily injury
from an accident without regard to fault.
Named Non-Owner Policy: An auto insurance policy for someone who does not own a motor vehicle
but drives someone else’s car or is mandated to secure a policy to maintain a driver’s license.
No-Fault Auto Insurance: Auto insurance which pays for medical and funeral expenses due to bodily
injury after an accident regardless of fault.
Uninsured Motorist Coverage: Optional coverage that provides benefits for bodily injury in the
event an at-fault driver has no liability limits or was a “hit and run” driver.
Florida Auto Plus Insurance Agency
Local map and directions: 9742 Banyan street Miami, Florida 33157
Local map and directions: 9742 Banyan street Miami, Florida 33157