Rollover Car Accident July 2016 - Russo Law | Personal Injury Car Accidents & Medical Malpractice

Rollover Car Accident

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This accident involved a vehicle that lost control at high speed and rolled several times before coming to a stop. A stunning video of the incident is located on the internet. The driver is recovering from injuries suffered in the crash. The accident happened in the afternoon on July 29, 2016. After the accident, witnesses approached the vehicle and pulled the driver out. No details have been released as to what caused this accident.

No-Fault Coverage Applies To Almost All Car Accidents In Florida

There is likely some degree of negligence involved on the part of the driver of this vehicle. Since it is a single vehicle accident, there does not appear to be a liability claim for injuries. The owner of the property may have a claim for property damages as a result of the collision. Interestingly enough, this particular accident raises insurance issues that are probably only infrequently analyzed. For one, the driver of this car is covered by his own Personal-Injury-Protection policy (also known as “no-fault” coverage). PIP or no-fault coverage covers you for $10,000 in medical expenses in a car accident regardless of fault. No-fault insurance means that your own insurance company pays for your injuries even if you caused the accident. No-fault does not mean without fault.

Collision Coverage In Florida

Secondly, if the owner of this car carried collision coverage, then the vehicle is also covered regardless of fault. Collision coverage pays fair market value of the car (minus any deductible) in the event that the car is involved in an accident. If the vehicle is not a total loss, the collision carrier will repair the vehicle. Again, collision coverage is also a no-fault coverage meaning that the accident can be your fault in order to make a claim. If there was a loan on this vehicle, collision coverage is almost certainly required.

What Does GAP Coverage Do In Florida?

In addition to collision coverage if there is a loan on this vehicle, there is also almost certainly GAP coverage. GAP means “guaranteed asset protection” and covers the “gap” (or difference) between fair market value for the car and the payoff amount on the loan. Virtually all loans through banks require GAP coverage for motor vehicles.

There is a truth about GAP claims that not everyone realize–while you are better off having GAP than not having it, you still lose everything you put into the vehicle because GAP’s purpose is to protect the bank and not to protect you. I have seen many claims where the claimant has made several years of payments into the vehicle only to have it become a total loss in an accident. When that happens, the car is almost always worth less than the payoff amount and GAP pay its part.

However, that only brings the borrower back to zero rather than allowing the borrower to earn any “equity” in the vehicle itself. Therefore, you never really want to be involved in an accident because, even though insurance may cover its part, you still come out without a vehicle after years of payments in many cases and have to start a new car loan all over again.