In these uncertain and unprecedented economic times, many people are looking for ways to cut costs and save money. For car owners and drivers, this may mean reducing the amount of automobile insurance or completely foregoing it all together in an effort to save costs. However, this can result in serious consequences for those who are properly insured as well as those who aren’t. 

According to the Insurance Research Council, the health of the United States economy has a direct impact on the national uninsured motorist rate. In the United States, one in eight drivers is uninsured despite car insurance being mandatory in all states except New Hampshire. Thus, if you have a car in the state of Florida, it is mandatory that you carry the minimum insurance.

In Florida, minimum insurance is just that - minimal. A driver is considered insured with limits as low as $10,000 per person/$20,000 per incident, and nearly half of Florida drivers have policies with limits of less than $25,000. If you are hurt or injured in a car accident - regardless of who is at fault - those limits won’t fully cover your trip to the emergency room. And if you happen to be in an accident with an uninsured driver, you might have to pay for some of your vehicle and medical expenses.

This is why uninsured motorist (UM) coverage is important and highly recommended to protect you and your family.

Optional in the state of Florida, UM coverage is extra insurance you can add to your auto policy. UM covers you and the family members who live with you as well as those who are in your vehicle in the event of an accident.  This additional protection pays for injuries and other expenses caused by an auto accident where the at-fault driver is uninsured or under insured. UM coverage can also be used in a no-fault accident.

UM covers above and beyond any vehicle repairs. UM coverage can be used to pay for accident-related expenses including medical bills, lost wages, disability, wheelchairs and other medical devices, short- and long-term nursing care, and pain and suffering. Additionally, UM will cover costs to retrofit your home to accommodate any accident-related disability as well as pay for cleaning or landscaping services if you are unable to perform those tasks.

The limits of UM coverage range from $10,000 per person/$20,000 per incident to $250,000 per person/$500,000 per incident, with the second number being the maximum monetary amount available. If you would like higher limits, a $1,000,000 personal umbrella policy would need to be purchased through your insurance agent.

The consequences of scrimping on UM coverage can be stressful and expensive. Your best bet to speak to your insurance agent to add or increase your UM coverage. That extra protection can go a long way.

At Hudgins Law Firm, our sole responsibility is to YOU. We will fight for the compensation you deserve following an auto accident. We negotiate with insurance companies and take them to court if necessary. To set up a FREE consultation, call us at 800-950-5534, or complete the contact form on our website. We’re the right team for you!

Sources

https://www.weshopinsurance.com/news/2016/07/what-is-florida-uninsured-motorist-coverage

https://www.esurance.com/info/car/are-uninsured-and-underinsured-motorist-coverages-necessary

https://www.justinziegler.net/uninsured-motorist-um-coverage-in-florida-and-examples/