Nearly 16% of Florida drivers are uninsured, and uninsured motorist rates have increased significantly in recent years.1 While all U.S. states except New Hampshire require liability coverage, many drivers still lack adequate insurance.
If you’re involved in an auto accident with an uninsured driver, having uninsured/underinsured motorist coverage (UM/UIM) can help cover medical bills, lost wages, and property damage. Without uninsured motorist coverage, you may have to pay for these costs out of pocket, putting your financial security at risk.
Read on to learn how to protect yourself with uninsured motorist coverage in Florida.
All U.S. states have their own requirements for the type and amount of minimum coverage a driver needs to have to drive legally. Florida’s no-fault law mandates that all registered vehicles maintain a minimum of $10,000 in personal injury protection (PIP) and $10,000 in property damage liability (PDL).
While Florida doesn’t require drivers to carry uninsured motorist coverage, it’s not a bad policy to have for extra protection against uninsured drivers.2
Uninsured motorist coverage is a popular car insurance add-on that protects you financially from damages caused by drivers without insurance or sufficient coverage to pay for the damages they incurred.
Having an uninsured motorist policy can also come to the rescue if you have a hit-and-run situation. With uninsured motorist coverage, you can get help paying for medical expenses, lost wages, and other costs that the at-fault driver’s insurance would typically cover.
Both underinsured and uninsured motorist coverage protect you when the at-fault driver lacks adequate insurance, but they address different situations. Uninsured motorist coverage applies when the at-fault driver has no car insurance coverage and helps cover medical expenses, lost wages, and property damage.
Underinsured motorist coverage, on the other hand, kicks in when the at-fault driver has insurance but their coverage isn’t enough to fully pay for your damages. While uninsured motorist coverage protects against drivers with no insurance, underinsured motorist coverage takes care of gaps when the at-fault driver’s insurance limits fall short.3
While every car insurance company offers its own unique set of products and services, most offer uninsured motorist coverage that comes in two main types:
Uninsured motorist bodily injury (UMBI): This coverage helps pay for medical expenses and lost wages if you’re injured in a car accident in which the at-fault driver has no auto insurance. It also applies to your passengers. In cases in which the at-fault driver is unidentified (hit-and-run accidents) or if you’re a pedestrian hit by an uninsured driver, UMBI covers your injuries.
Uninsured motorist property damage (UMPD): UMPD covers motor vehicle repairs and damage to other property, such as a fence or house, that an uninsured driver causes. It can also help with the cost of a rental car if your vehicle is out of commission due to a car accident.
When it comes to uninsured motorist coverage, fault plays a key role. Uninsured motorist coverage applies when the other driver is at fault and doesn’t have insurance or enough coverage to fully compensate for your injuries or property damage.
To better understand how uninsured motorist coverage can help protect you as a Florida driver, check out these frequently asked questions about this popular add-on.
Florida has a large amount of uninsured drivers, so any Florida driver can benefit from adding uninsured motorist coverage to their base auto insurance coverage. Adding this coverage to your policy provides financial protection if you’re in a car accident with an uninsured, underinsured, or hit-and-run driver.
Experts recommend matching your uninsured motorist coverage limits to your bodily injury liability insurance coverage. Consider higher limits if you want better financial protection against medical expenses, lost wages, and long-term injuries caused by underinsured or uninsured drivers.
Florida doesn’t require uninsured or underinsured motorist coverage, but car insurance companies must offer it, and drivers must sign a waiver to decline it.
Uninsured motorist coverage offers valuable financial protection for drivers by covering medical bills, lost wages, and property damage, including hit-and-run incidents and accidents with underinsured drivers. But buying this coverage will increase premium costs, and if you do need to file a claim, you may end up in a tedious and lengthy claims negotiation process.
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