In the state of Florida, Uninsured/Underinsured Motorist’ (UM/UIM) coverage is a key component of auto insurance. Understanding what this coverage entails and whether you should have it is vital for protecting yourself financially in the event of a car accident.
Understanding Florida’s Uninsured/Underinsured Motorist Coverage
Uninsured/Underinsured Motorist coverage or UM/UIM, is an optional add-on to your auto insurance policy in Florida. This coverage is designed to protect you and your passengers in situations where you are involved in an accident with a driver who either has no insurance (uninsured) or has insufficient insurance coverage to fully compensate you for your injuries and damages (underinsured).
Key Components of UM/UIM Coverage in Florida
Uninsured Motorist (UM) Coverage
UM coverage comes into play when you are involved in an accident with a driver who lacks any form of insurance. It can help cover your medical expenses, lost wages, and other damages that the uninsured driver would typically be responsible for.
Underinsured Motorist (UIM) Coverage
UIM coverage applies when the at-fault driver’s insurance is insufficient to cover all your losses. This coverage can bridge the gap between the at-fault driver’s policy limits and your actual expenses.
Why is UM/UIM Coverage Important in Florida?
Florida law does not require drivers to carry bodily injury liability insurance, which means there are drivers on the road that may have no insurance coverage at all. Even those who have insurance may have minimum limits that may not be sufficient to cover serious injuries and property damage in the event of an accident.
Here are some key reasons why UM/UIM coverage is important in Florida:
- Uninsured Drivers: Florida has a relatively high rate of uninsured drivers. In such cases, UM coverage can protect you from bearing the financial burden of an accident you didn’t cause.
- Underinsured Drivers: Even if the at-fault driver has insurance, it may not be enough to cover your medical bills, lost wages, and other costs. UIM coverage ensures you have additional protection when you’re dealing with underinsured motorists.
- Hit-and-Run Accidents: UM coverage can also be crucial if you are involved in a hit-and-run accident where the responsible party cannot be identified or does not have insurance.
- Peace of Mind: Knowing that you have UM/UIM coverage can provide peace of mind, knowing that you and your passengers are protected in various scenarios.
Should I Buy UM/UIM Coverage in Florida Even if it is Not Mandatory
While UM/UIM coverage is not mandatory in Florida, it is prudent to purchase it for several reasons:
- Financial Protection: UM/UIM coverage provides an extra layer of financial protection for you and your passengers in the event of an accident with uninsured or underinsured drivers.
- Affordability: UM/UIM coverage is generally affordable, especially when compared to the potential financial repercussions of an accident without adequate coverage.
- No-Fault State: Florida operates under a no-fault insurance system, which limits your ability to sue another driver for some car accident injuries. UM/UIM coverage can fill the gap in cases where suing the at-fault driver is not an option.
- Variable Insurance Limits: UM/UIM coverage can be customized to your unique needs, allowing you to select coverage limits that match your concerns and budget.
Get a Seasoned Florida Car Accident Lawyer on Your Side
If you or a loved one have been involved in a car accident in Florida and are navigating the complexities of claiming damages, trust in the expertise of Robert W. Rust, Esq., at Rust Injury Law. With his deep understanding of personal injury law and a track record of securing maximum compensation for clients, he is your dedicated advocate. Reach out to Rust Injury Law today for comprehensive guidance and representation in your car accident case. Your path to compensation and justice begins here. Call us at 305-200-8856 or contact us online to schedule your free consultation.