Uninsured/underinsured motorist coverage (UM/UIM coverage) is additional car insurance that pays for medical bills, car damages, and expenses when you have been in an auto accident. Uninsured coverage applies when the auto accident has been caused by a driver who doesn’t have car insurance, a driver whose insurance denies your claim, or a hit-and-run driver. Underinsured motorist coverage applies when the driver’s insurance doesn’t cover to pay for medical bills, car damages, and expenses.
In Florida, the state law doesn’t require you to have uninsured/underinsured motorist coverage; however, having it in your insurance has its benefits. The minimum coverage is 10/20; this means that you should have liability limits of $10,000 for injuries in a person and $20,000 for injuries in an accident.
If you are hit by an uninsured driver and have UM/UIM coverage, your PIP benefits will take effect first, followed by your uninsured motorist policy, presuming you have acquired enough of this insurance to meet the expenses of the accident. If you do not have UM/UIM coverage, you may be required to pay out of pocket for the costs of an accident caused by an uninsured motorist that is not covered by your PIP. As a result, as personal injury attorneys, we advise all drivers to purchase UM/UIM coverage in the highest amount permitted to protect themselves against a potential eventuality.
Some benefits are:
- Extra protection: The Insurance Research Council reported that the estimated percentage of uninsured drivers in 2019 is 20.4% in Florida. It also applies if the driver is a hit-and-runner because the UM/UIM coverage will protect you.
- Risk of being in an auto accident: The Florida Highway Safety and Motor Vehicle reported that in 2019 there have been 401,867 auto accidents. Every person is at risk of having an auto accident that’s why everyone needs to be protected.
- Stacked insurance: This means you are allowed to make claims within one policy or from two policies. It allows you to stack two vehicles that are insured under one policy or stack two vehicles that are under two policies in your name. Also, this will grant you to receive more money to cover medical bills and expenses; however, you must keep in mind that some insurance companies have an “anti-stacking provision”
Some disadvantages are:
- You might never need it: The best thing that could happen is that you will never be in an accident, which is a real possibility, and that you will never be hurt in an accident. If, on the other hand, you pay monthly payments for uninsured motorist coverage and never have an accident, that money doesn’t get reimbursed to you but goes to your insurance provider.
- Increased monthly premiums: This will raise your premiums even though uninsured motorist coverage isn’t that expensive. Increasing monthly premiums may not be viable for families who are already struggling to pay the high price of vehicle insurance in Florida.
If you or someone you care about has been injured in a car accident, contact the Law Office of Ruth E. Johnson immediately.
Remember when injured you get to choose your legal counsel, so have an experienced, aggressive, knowledgeable l team that aims to get you the most compensation for your losses. Choose the Law Office of Ruth E. Johnson.
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