The Importance Of Uninsured Motorist Coverage
According to the Insurance Information Institute, In 2015 Florida had the MOST DRIVERS in the country on the road without auto insurance, at a whopping 26%. That means that if you are injured in an auto accident in Florida, you have more than a 1 in 4 chance of being hit by a driver who has no insurance to cover your injuries. We think it’s important to review the declarations page of your current auto policy and look for “UM” (uninsured motorist) or “UIM” (underinsured motorist). In Florida, UM/UIM coverage is limited to what you have set as your BI (bodily injury liability) coverage. In other words, you can purchase UM/UIM only at the same limit that you also carry BI.
UM and UIM (used here interchangeably) insurance is so important to have because it pays if you, your passengers or family members are injured by another driver who is “at-fault” and does not have bodily liability insurance, has insufficient liability insurance to cover the total damages sustained by you, or no insurance at all. This applies whether you are riding in your car, someone else’s car or are struck by a car while a pedestrian. UM/UIM pays for medical expenses, lost wages and for bodily injury, sickness, disease or death resulting from a car accident, beyond your PIP auto coverage.
When you purchase UM/UIM auto insurance, you may want to elect to “stack” the coverage. Generally, this means that the limits of your UM coverage are multiplied by the number of vehicles on the policy of insurance. If you only own one vehicle, it may not be necessary to stack the insurance policy. The extra premium cost is nominal, if any, for that much more insurance coverage for yourself when you need it. But this extra cost should NOT deter you from getting the coverage. We have seen so many people who are severely injured and end up having thousands of dollars in medical expenses and there is NO way to pay for it besides out-of-pocket because of the lack of insurance coverage on the defendant’s side and the lack of UM coverage on the victim’s own insurance.
For a free explanation of your auto insurance policy and how your current coverage protects you,give Hancock Injury Attorneys a call at 813.534.6319.