You are currently viewing Do you really need uninsured motorist coverage?

Do you really need uninsured motorist coverage?

Driving is a risky activity that exposes you to the possibility of accidents and injuries.

While you may be a careful and responsible driver, you cannot control the actions of other drivers on the road. In fact, some of them may be driving without any liability car insurance, which is required by law in most states.

Indeed, if you are involved in an accident with an uninsured driver, you may face serious financial consequences.

Next, you’re going to understand if you really need uninsured motorist coverage and its mean features.

What is uninsured motorist coverage?

Uninsured motorist coverage is a type of auto insurance that can pay for medical expenses if you or your passengers are injured in an auto accident caused by a driver who doesn’t have any liability auto insurance, a hit-and-run driver, or a driver whose insurance company denies coverage or goes out of business.

That it’s to say, it could pay for your medical expenses, lost wages, pain and suffering, and even funeral costs if you or your passengers are injured in an accident caused by an uninsured driver. It can also pay for your car’s damages if you have uninsured motorist property damage coverage.

What does uninsured motorist insurance cover?

In essence, there are two types of uninsured motorist coverage:

  • Uninsured motorist bodily injury (UMBI). This covers medical bills, pain, and suffering, lost wages if you can’t work after an accident. It also covers funeral expenses after a crash with an at-fault driver who doesn’t have auto insurance. It may also cover you if an uninsured driver hits you as a pedestrian or while riding your bike.
  • Uninsured motorist property damage (UMPD). This covers damage to your car or property after an accident with an at-fault driver with no auto insurance.

In short, here’s a list of what uninsured/underinsured motorist coverage could cover:

  • Auto repairs
  • Collision deductibles
  • Hit-and-run accidents
  • Funeral expenses
  • Lost wages
  • Medical bills
  • Other out-of-pocket expenses related to property damage
  • Pain and suffering
  • Rental car cost

What are the benefits of uninsured motorist insurance?

Uninsured motorist insurance is necessary because an estimated 12-14% of drivers across the U.S. are uninsured. That means that there is a high chance that you may encounter an uninsured driver on the road. As a result, if they cause an accident involving your vehicle, they will not be able to pay for your damages or injuries.

That is to say, without uninsured motorist insurance, you would have to pay for these expenses out of your own pocket or sue the uninsured driver, which can be time-consuming and costly.

Certainly, uninsured motorist coverage can provide important financial protection if you are involved in an accident with an uninsured driver. For example, it can pay for your medical expenses, lost wages, pain and suffering, and even funeral costs if you or your passengers are injured in an accident caused by an uninsured driver. It could also pay for your car’s damages if you have uninsured motorist property damage coverage.

Uninsured/Underinsured Motorist Coverage Requirements by State

The requirements for uninsured/underinsured motorist coverage vary by state.

In some states, this coverage is mandatory, while in others it is optional. In addition, some states require drivers to reject the coverage in writing if they do not want it.

It is important to check your state’s laws and regulations to be sure whether uninsured/underinsured motorist coverage is required or optional. Even though this coverage is not required by law in your state, it may still be a good idea to consider purchasing it. This way, you can protect yourself financially in the event of an accident with an uninsured or underinsured driver.

Uninsured Motorist Requirements in Florida

In Florida, it is not mandatory for drivers to have uninsured or underinsured motorist insurance. However, auto insurers are required to offer this coverage to their customers, and customers have the option to reject it. If a customer chooses not to purchase this coverage, they must fill out a rejection or waiver form.

Florida’s No-Fault Law requires that all motor vehicles registered in the state be insured with at least $10,000 in personal injury protection (PIP) and $10,000 in property damage liability (PDL) coverage throughout the vehicle’s registration period. However, this law does not require drivers to have uninsured motorist coverage.

What uninsured motorist insurance amount do I need?

The amount of uninsured motorist insurance that you require depends on your state’s requirements and your personal preferences.

Some states require uninsured motorist coverage, while others make it optional. For this reason, you should check your state’s laws and regulations before buying or renewing your auto insurance policy.

In summary, you should also ensure that your uninsured motorist coverage limits are at least the same as your liability coverage limits. Then, this will ensure that you are adequately protected in the event of an accident with an uninsured driver.

Final Words

In conclusion, having auto insurance coverage against uninsured motorists is essential for protecting yourself financially in the event of an accident with an uninsured driver. Certainly, it can provide valuable financial protection if you are involved in an accident with an uninsured driver.

Specifically, in Florida, while uninsured motorist coverage is not required by law, it is still an important coverage to consider.

You should carefully review your auto insurance policy to ensure that you have adequate coverage.

 

Thank you for reading this article about the importance of having auto insurance coverage against uninsured motorists.

If you have any questions or need advice on this topic, please don’t hesitate to contact our company. Our experienced agents are always ready to help you understand your coverage options and make informed decisions about your auto insurance needs. We look forward to hearing from you!

All our posts are referential

Our policies and their coverage are individual and personalized to each specific situation.

At Veneville Insurance, we’d be happy to offer you multiple insurance options.

Contact us!

Leave a Reply