According to the Insurance Research Council, close to 27% of Florida drivers don’t have auto insurance. This means if you are seriously injured in an accident, there’s better than a 1 in 4 chance that the other driver doesn’t have insurance. If they do have insurance, chances are the driver only carries $10,000 in personal injury protection and $10,000 in property damage liability. If you’ve sustained serious injuries as the result of an accident with a negligent driver, there is probably not enough insurance to compensate you for all of your losses.
What is Uninsured/Underinsured Motorist Coverage?
You protect yourself in these situations by having uninsured/underinsured motorist (UM) coverage as part of your auto insurance. UM coverage will cover your medical bills if you are seriously injured in an accident caused by someone who does not have insurance or who does not have enough insurance to cover your losses. In addition to medical bills, UM insurance may also cover lost wages, future medical bills, and non-economic damages such as pain and suffering.
Why Should I Purchase Uninsured/Underinsured Motorist Coverage?
Drivers in Florida should seriously consider purchasing UM coverage as part of their auto insurance policy. The cost of coverage is low compared to the astronomical cost of medical care if you are seriously injured in an accident. Your car insurance company is required to offer you UM coverage and if you decide not to purchase it you must do so in writing.
Stacked Uninsured/Underinsured Motorist Coverage
If you decide to purchase “stacked” UM coverage it means that you can stack your coverage based on how many insured vehicles you own. For example, if you have $100,000 in UM coverage on each of your two vehicles, you may be able to recover $200,000 if you purchased stacked coverage. With stacked coverage, the amount of coverage is multiplied by the number of insured vehicles you have.
Contact an Experienced Accident Attorney
If you’ve been injured in a car accident, you should consult with an experienced car accident attorney. Gregg Goldfarb has helped hundreds of accident victims pursue the compensation they deserve. Contact us online or call us at 305-374-7000 to schedule a free consultation.