Uninsured motorist coverage is not required in Florida since drivers have the option to decline coverage in writing. Nonetheless, insurers must provide at least $10,000 in uninsured motorist bodily injury coverage per person (up to $20,000 per accident).
Uninsured/underinsured motorist coverage helps pay for a car collision in which the other driver does not have car insurance or does not have enough coverage for the damage they caused if the driver does not opt out by rejecting the coverage in writing.
What happens if I don’t have uninsured motorist coverage in Florida?
All drivers in Florida are obliged to have a certain amount of auto insurance. They must have at least $10,000 in property damage liability (PDL) and $10,000 in personal injury protection (PIP), also known as liability insurance “No-fault insurance in Florida.” Personal injury protection pays a portion of an individual’s medical bills and lost wages if they are hurt in an auto accident. Property damage liability compensates for damage a driver makes to other people’s property following a vehicle mishap. Motorists in Florida are not required to have bodily injury insurance or uninsured/underinsured motorist coverage.
It’s crucial to remember that these are Florida’s minimum vehicle insurance requirements, which are significantly lower than those in most other states, and far lower than they should be. The majority of states require drivers to have bodily injury liability insurance in the event that they cause a significant accident and are sued by other injured parties.
Liability limits for bodily harm can range from $10,000 per person and $20,000 per accident to $250,000 per person and $500,000 per accident or more.
It all depends on state minimum standards and the policyholder’s preferences. This sort of insurance exists to safeguard your assets in the event that you cause an accident that results in significant injury to others; without it, your personal assets would be at danger in the event of a lawsuit.
Your coverage is grossly inadequate if you only have the minimal minimum vehicle insurance requirements required by Florida law. We all know that $10,000 won’t cover the medical bills and lost income of someone hurt in an accident these days, and if the costs surpass this amount, you could be liable for further damages if you don’t have bodily injury liability coverage.
If you choose bodily injury liability coverage in your Florida autoinsurance policy, you will also be offered uninsured/underinsured motorist coverage, which is normally the same level of coverage as the bodily injury liability coverage you choose. Uninsured/underinsured motorist insurance protects you from financial loss if you are injured in a car accident and the other driver does not have insurance or does not have enough insurance to cover your costs.
Despite the fact that you don’t technically “Although you “need” uninsured/underinsured motorist insurance in Florida to comply with state law, there are several compelling reasons to do so:
According to statistics, the average person will be involved in three or four auto accidents during their lifetime. In 2018, there were just under 400,000 motor vehicle incidents in Florida, resulting in over 250,000 injuries and over 3,000 deaths. This places Florida in the top ten states for auto accidents in the country. You may believe it will never happen to you, and you may believe you are the safest driver on the planet. However, you have no influence over other people’s behavior or external events. If you’re ever in an accident, you’ll want to make sure you have enough insurance to cover both other people’s injuries and your own.
Despite the fact that it is required by law, nearly one out of every four motorists in the Sunshine State does not have insurance. This means that there’s a 25% risk that the other motorist isn’t insured if you’re in a car accident. It will be extremely difficult to get compensation for your losses if you are critically wounded in a collision with an uninsured driver and do not have uninsured motorist coverage. If a driver does not have insurance, it is likely that they do not have any assets. You could file a lawsuit against them, but you’ll very certainly never see any of the money you win.
A substantial majority of motorists in the state are underinsured due to the state’s very low minimum insurance requirements, which we covered before. A motorist, for example, can legally drive in the state without having any bodily harm liability insurance. If you are seriously harmed by such a driver, your condition would be no better than if they were uninsured.
In Florida, you may not be obliged to obtain uninsured motorist coverage. However, given the high number of accidents in the state and the high number of uninsured and underinsured motorists on the roads, it is strongly recommended that you spend the extra few dollars for this coverage. When you drive in the Sunshine State, you are exposing yourself to a significant level of risk.
What happens if I reject uninsured motorist coverage?
If you decline uninsured motorist coverage, you will have to get another type of insurance or pay out of pocket if you are hit by an uninsured driver. If you currently have collision insurance and some form of medical coverage, declining uninsured motorist coverage could help you save money. Paying for uninsured motorist policy, on the other hand, is usually a low-cost approach to provide extra security.
Do I really need uninsured motorist coverage?
Yes, after a hit-and-run collision, your uninsured motorist policy may be used to pay for injuries or damage charges. Is it worthwhile to get uninsured motorist protection? Depending on where you reside, you may be forced to purchase uninsured motorist coverage, but even if you aren’t, it’s worth considering.
Is Florida a no fault state?
Since Florida became a state, the $10,000 minimum has remained unchanged “However, in the 1970s, there was a “no-fault” state. While many other states are also taken into account, “Known as “no-fault,” these states have also made it mandatory for drivers to acquire bodily injury insurance. Only two states do not require bodily injury coverage. Florida is one of them.
The bill passed by legislators would eliminate “personal injury protection” coverage and repeal Florida’s “no-fault” legislation.
Why are there so many uninsured drivers in Florida?
In late February, FlaglerLive released an article about the disturbing number of drivers in Florida who do not have auto insurance. According to the article, over 12% of drivers in the United States are uninsured, a proportion that nearly doubles in Florida, where nearly 25% of drivers are uninsured.
Many circumstances can lead to a driver avoiding auto insurance, according to FlaglerLive, such as resentment that insurance is required or being unable to obtain insurance because he or she is an undocumented immigrant without a driver’s license. However, poverty is the primary reason for many Floridians’ lack of vehicle insurance.
The Insurance Information Institute (III) statistics cited in the FlaglerLive story show that many Florida drivers simply cannot afford vehicle insurance. According to the given statistic, the costs of numerous household expenditures increased countrywide between 2010 and 2011, including:
“It can still be a difficult purchase for a low-income family,” stated James Lynch, III Chief Actuary. “States with a higher percentage of uninsured motorists have more expensive insurance.”
Even if you are the victim of a crash caused by a driver who has auto insurance, you should still consult with an attorney. Injury lawyer Deborah Gander argues in the video below that insurance companies are businesses, and like all businesses, they seek to save money, even if it means putting accident victims at risk. Crash victims and their families may be able to boost their prospects of holding those responsible for their injuries and suffering accountable with the help of an attorney who specializes in car accident cases.
Which is better stacked or unstacked uninsured motorist?
- You can stack insurance either vertically (inside one policy) or horizontally (among many policies) (across multiple policies).
- Your eligibility to obtain stacking insurance is contingent on your insurance company, state, and current coverage.
- Because it has lower coverage limitations, unstacked insurance is usually less expensive than stacked insurance.
- Uninsured motorists are better protected by stacked insurance than uninsured motorists are by unstacked coverage.
What’s the difference between uninsured motorist and underinsured motorist?
If you’re in an accident with a driver who doesn’t have liability insurance, uninsured motorist insurance will cover you. When you’re in an accident with an at-fault driver whose liability limits are insufficient to cover the medical expenses of any wounded people, underinsured motorist coverage kicks in.
Does liability cover uninsured motorist?
Uninsured motorist coverage is a sort of liability insurance for automobiles. If you’re in an accident caused by someone who doesn’t have auto insurance or if you’re hurt by a hit-and-run motorist, it could assist pay for your expenditures. In certain states, this type of insurance is voluntary, while in others, it is obligatory.
Do insurance companies go after underinsured drivers?
Uninsured motorist coverage is a type of insurance that protects you against losses incurred by an uninsured or hit-and-run driver. Uninsured motorist coverage is divided into two categories:
Uninsured motorist coverage cannot normally exceed the amount of your personal liability coverage.
For example, if your liability coverage is $50,000, your uninsured motorist coverage must be $50,000 or less. Your uninsured-driver coverage, on the other hand, will only pay up to $50,000 in damages if the uninsured motorist is at fault.
Is it mandatory to have auto insurance in Florida?
Because insurance rules differ by state, they can be perplexing. So let’s get started with a basic question and an easy answer:
Absolutely. In fact, with the exception of two states, obtaining some form of car insurance is required by law (Virginia and New Hampshire). You must have evidence of insurance with you at all times when driving in Florida, and it must be current. If you are stopped over or involved in an automobile accident, law authorities will ask you to present this proof. You must also show proof of Florida coverage when registering a new vehicle.
It’s normal to see many kinds of vehicles in Florida. Many Floridians live on or near the beach, so non-traditional “vehicles” such as water bikes, golf carts, go karts, and other similar vehicles are frequently used on and off the road. While these vehicles are not required to have insurance, the state of Florida requires that every normal four-wheeled vehicle have at least the minimal level of coverage.