Why is Uninsured Motorist Coverage Important?
Why is Uninsured Motorist Coverage important? For every safe driver, there is another, less responsible driver on our Florida highways. They may run a red light, text and drive, or fail to signal when changing lanes. For various reasons, accidents where one party is not the one at fault can happen.
To minimize instances in which there is little or no recourse after an accident, there exists Uninsured Motorist Coverage. This article will thoroughly explain what “UIM coverage” is, why it’s important, and why safe Florida drivers have it.
How are Florida drivers protecting themselves in 2019?
Sometimes the driver at fault lacks insurance entirely. In these scenarios, the driver often takes off before police can initiate an exchange of information. This leaves the victim with a totaled vehicle and very little recourse. However, with the right legal representation, it doesn’t have to be this way. That’s why Personal Injury lawyers are familiar with UIM coverage, and why it exists.
To fully understand “Uninsured Motorist Coverage”, we should review situations in which it would be important:
- The driver at fault doesn’t have car insurance coverage. This is a common problem in Florida.
- UIM eliminates the necessity that the victim pay for an accident in which they were not at fault
- In states with higher rates of uninsured drivers such as Florida, coverage costs far more
How does Uninsured Motorist Coverage work?
When a victim gets into a car accident, they file a claim with the at fault driver’s insurance company. Their insurer repairs the vehicle. If it’s totaled in the accident, that insurance company covers the cost of the car, medical expenses, and any financial losses accrued such as lost wages.
However, there are some instances in which the at-fault motorist is woefully underinsured or doesn’t have insurance at all. It’s estimated that about 1 in 8 drivers are completely uninsured. Without uninsured motorist coverage, drivers end up paying completely out of pocket for the repair of the vehicle. And, if the vehicle is totaled, they pay out of pocket to replace it.
Uninsured and underinsured
Like other forms of liability insurance, there are two different categories of motorist coverage that can protect you from the fault of irresponsible drivers.
- Uninsured Motorist Bodily Injury Coverage (also known as “UMBI”): this type of insurance can cover injury expenses ranging from lost wages to medical expenses. This type of insurance can protect against accidents that turn out to be hit and runs.
- Uninsured Motorist Property Damage Coverage (also known as “UMPD”): this type of insurance covers anything that happens to the car in the event of an accident. This form of insurance does not cover any damage or injuries that occur due to a hit and run accident.
Why have UIM coverage if Florida doesn’t require it?
Due to the high volume of car accidents in certain states, sometimes Uninsured Motorist Coverage is a requirement. In the state of Florida, however, it’s not required. That doesn’t mean drivers shouldn’t have it.
It’s always better to have UIM and not use it, then to need it and wind up with the headache of financial ruin. It’s important to safeguard against any possible driving accident that can occur due to someone else’s irresponsible choices. Whether a driver is rear ended because someone was distracted, or a car is sideswiped in traffic. These are situations in which the driver may speed off without providing information. Driving can be much safer by purchasing UIM coverage.