Uninsured Motorist Coverage: Why You Need It.
Every driver on the road should have insurance, but unfortunately, not everyone does. In fact, according to the Insurance Information Institute, around 13% of drivers in the United States are uninsured. In Florida, that number is even higher, with an estimated 25% of drivers lacking insurance coverage. This is why it’s important for Florida drivers to understand uninsured motorist coverage and how it can protect them in the event of an accident.
What is Uninsured Motorist Coverage?
Uninsured motorist coverage is a type of auto insurance that provides financial protection in the event of an accident with an uninsured driver. If you are involved in an accident with an uninsured driver and you have uninsured motorist coverage, your insurance company will step in to help pay for the damages and medical expenses incurred. This type of coverage can be added to your auto insurance policy as an optional endorsement.
Why is Uninsured Motorist Coverage Important in Florida?
As mentioned, Florida has a higher rate of uninsured drivers compared to the rest of the country. This means that the risk of being involved in an accident with an uninsured driver is higher in Florida. If you are in an accident with an uninsured driver and you don’t have uninsured motorist coverage, you may be left to pay for the damages and medical expenses out of your own pocket. This can be a devastating financial burden, especially if you have extensive damages or medical bills.
Uninsured motorist coverage can also protect you if you are involved in a hit-and-run accident. If the driver who caused the accident flees the scene, you may be left without any way to recover the damages. However, if you have uninsured motorist coverage, your insurance company can step in to help cover the costs.
How Much Uninsured Motorist Coverage Should You Have?
The amount of uninsured motorist coverage you should have depends on your specific needs and circumstances. You should consider factors such as the value of your vehicle, your ability to pay for damages and medical expenses out of pocket, and the risks you face on the road. In Florida, the minimum amount of uninsured motorist coverage required is $10,000 per person and $20,000 per accident. However, you may opt to purchase a higher amount of coverage to ensure that you are fully protected in the event of an accident.
In conclusion, uninsured motorist coverage is an important type of auto insurance for Florida drivers to consider. With the high rate of uninsured drivers in the state, it’s important to protect yourself from the financial burden that can come with being involved in an accident with an uninsured driver. Be sure to speak with your insurance agent to determine the right amount of coverage for your specific needs.