Paying for auto insurance coverage may seem like a waste of money. You pay a sizeable amount of money every month on the off chance you get into an auto accident, and you really want to use it for something else. You look over your insurance and decide to cut out certain coverages to save money, but are you really saving in the long term?
Even if money is tight and you are looking to “save” money, think twice about cutting coverages from your auto insurance policy. Especially, your uninsured motorist insurance; this decision could be life-altering should you get in a car accident.
Sadly, all-too-often we speak with people who have been involved in a crash, and they are shocked to hear there’s little we can do to make you whole again and get your injuries fully compensated without having this on your insurance policy.
UM coverage is short for uninsured or underinsured motorists. Having UM coverage is extremely important in Florida, as our state is unique in how it handles auto insurance coverage.
When a person is injured in an auto accident in Florida, the injured party—whether they were at-fault or not—must first utilize their No-Fault Personal Injury Protection (PIP) coverage under their own auto insurance policy. This coverage helps with medical bills and lost wages.
Once the PIP is exhausted, the injured party—if not at-fault—must determine if the at-fault party responsible for the accident has bodily injury liability coverage to pay for the remaining injuries and damages.
UM coverage in Florida is extremely important. Florida ranks second in the United States for the number of uninsured/underinsured drivers. New numbers show that 1 in 5 drivers in the state are uninsured or underinsured motorists.
Why? Florida does not require motorists to obtain and pay for bodily injury liability coverage under their auto insurance policy.
This means if you are hit by someone that does not carry enough bodily injury liability coverage or is just uninsured, you will have to cover the remaining expenses. Without having UM coverage, when hit by a driver that is uninsured or underinsured, how will you be able to cover all of your medical bills or lost wages?
The odds are not in your favor when you drive in Florida, so it is crucial that you speak with your auto insurance provider and make sure your policy has UM coverage. Do not assume that you have “full coverage” and that you have uninsured motorist insurance.
Remember, when you reject UM coverage and are in an accident that was not your fault, you may be left without compensation for your damages and injuries. This policy is something we don’t recommend you get on the road without. Uninsured motorist coverage is affordable and easy to add back to your insurance if you did cut it out of your policy earlier.
Take time to review your policy for UM coverage to have peace of mind when driving. If you declined it or dropped it from your insurance, we recommend you add it back to your car insurance. Being involved in an auto accident is terrifying, especially when it was not your fault. Realizing that the other driver isn’t properly insured, only adds to the stress.
If ever in an accident, remember to speak with a caring car accident attorney at Mickey Keenan, P.A.. Don’t simply take insurance’s first offer, we can discuss with you how to move forward to make sure you are getting the maximum settlement possible to cover your injuries and damages.
Here, we’ll treat you like family, call our South Tampa, FL law firm today at (813) 871-1300 for a free case evaluation.