Uninsured motorist insurance (UM) is an essential form of auto insurance that provides coverage for accidents that occur with uninsured drivers. In Florida, it is not mandatory to carry UM insurance, but it is highly recommended, considering the high rate of uninsured motorists in the state.
We have seen many cases where people have been involved in accidents with uninsured drivers, and the financial burden on these victims can be overwhelming. Here, we will discuss the importance of UM insurance and why it is critical to consider this coverage when purchasing auto insurance.
Florida Laws and the Importance of UM Insurance
In Florida, the law requires drivers to carry Personal Injury Protection (PIP) and Property Damage Liability (PDL) as a minimum insurance requirement. However, the state does not mandate drivers to carry UM insurance. Most drivers opt out of UM insurance, which is a grave mistake.
According to the Insurance Information Institute (III), in 2019, Florida had the highest percentage of uninsured motorists in the country, with a rate of 26.7%. Despite Florida’s high rate of uninsured drivers, many drivers still choose to go without UM insurance due to its additional cost. The hard reality is that being involved in an accident with an uninsured driver in Florida can be a costly and stressful situation. Moreso than just purchasing the coverage in the first place.
UM insurance serves as a safety net for drivers and passengers involved in an accident with uninsured motorists, providing compensation for medical costs, lost wages, pain and suffering, and other damages. Most people believe that UM insurance is only essential in car accidents that are severe, but that is not always the case. Even minor accidents can cause a financial burden on the victim, especially if the other driver is uninsured.
In Florida, even if PIP and PDL cover some damages, they may not be enough to fully compensate the victim for their injuries and other losses. Adding UM coverage ensures that the victim receives the full compensation they deserve, even if the other driver is uninsured, underinsured, or hit-and-run.
The Benefits of UM Insurance
UM insurance provides a wide range of benefits that protect drivers and passengers who are involved in accidents with uninsured motorists. Below are some of the advantages of UM insurance in Florida:
- Medical Expenses: It covers medical expenses related to injuries sustained in the accident, including hospitalization, diagnostic tests, medications, rehabilitation, and other treatments.
- Lost Wages: It provides compensation for lost income due to injuries sustained in the accident. This coverage ensures that the victim does not suffer a significant loss of income while they are out of work due to their injuries.
- Pain and Suffering: It provides compensation for emotional distress, mental anguish, and physical pain resulting from the accident.
- Hit-and-Run Accidents: It provides coverage for damages due to hit-and-run accidents. This coverage should cover the expenses of repairs and medical costs.
It can also provide coverage for punitive damages in cases where the at-fault driver was under the influence of drugs or alcohol.
UM insurance is not only important for accidents with uninsured drivers but also for underinsured motorists. In cases where the at-fault driver has insurance, but their coverage is not enough to cover the damages, UM insurance can provide additional compensation to the victim.
The Cost of UM Insurance
The cost of UM insurance varies depending on the driver’s age, driving history, location, and other factors. It comes at an additional cost to your auto insurance policy; however, the cost of UM insurance is relatively low compared to the financial burden that comes with an accident with an uninsured driver.
In Florida, UM insurance can cost between $10 and $40 per month, depending on coverage limits. Although this additional cost may seem insignificant, it can save you from substantial financial damage if you are involved in an accident with an uninsured driver.
Our Recommendation
While in Florida, UM insurance is not mandatory, we highly recommended this coverage for all drivers. It provides protection and peace of mind to drivers and passengers involved in accidents with uninsured or underinsured motorists.
Again, the cost is minimal compared to the financial damage that comes along with an accident with an uninsured driver. With UM insurance, victims can receive full compensation for their losses, even if the other driver is uninsured.
Contact us today to see how we can help you navigate an uninsured motorist claim.
