Uninsured and Underinsured Auto Insurance
Every Florida vehicle owner is required to register their vehicle(s) with the state and purchase insurance. The minimum amount of insurance coverage required is $10,000 personal injury protection (PIP) and $10,000 property damage liability (PDL). Unfortunately, according to data from the Insurance Information Institute, Florida has the second highest percentage of uninsured drivers in the country, at 23.8%. With some 20 million registered vehicles in the state, this data clearly suggests that almost five million vehicles are uninsured. This is an astounding number and suggests that in the event of an accident, there is almost a one-in-four chance that the other vehicle will be uninsured.
Various Types of Insurance in Florida
- Personal Injury Protection – Also called No Fault Insurance, PIP covers the policyholder regardless of fault. This means you are covered up to the amount of your PIP limits for medical bills and lost wages regardless of who caused the car accident. Your PIP also covers household members, your child and certain passengers who do not have PIP insurance if they do not own a vehicle.
- Property Damage Liability – Also called PDL, in a car crash, this covers you and family members for damage caused to other people’s property up to the limits of the policy.
- Bodily Injury Liability – Also called BIL or BI, this important insurance protects you and family members in the event you cause an accident resulting in serious injuries or death. BIL or BI also pays for your attorney if you are sued by the injured party.
Understanding Uninsured and Underinsured Coverage
As stated above, almost one in four drivers are completely uninsured in Florida. So what happens to a driver who is injured by an uninsured or underinsured driver?
Uninsured and Underinsured Motorist Coverage (UM, UIM) is available to protect victims of accidents caused by uninsured and underinsured motorists. This insurance protects you and any passengers involved in an accident caused by an uninsured or underinsured driver.
- Uninsured Motorist Coverage (UM) protects you (the policyholder) and any passengers in your car when an accident is caused by a driver who does not have bodily injury coverage.
- Underinsured Motorist Coverage (UIM) protects you when the party causing the accident has insurance, but has exhausted the policy limits and does not have sufficient bodily injury coverage.
Uninsured and Underinsured Insurance is Especially Important in Severe Crashes
Uninsured and underinsured insurance is especially important in severe accidents resulting in extensive hospital and medical bills. If an uninsured driver strikes your car, but has no insurance, your uninsured coverage will protect you to the amount of your policy limits for medical expenses, future medical expenses, lost earnings, future lost earnings, pain and suffering, loss of the ability to enjoy life, disability and more. You are covered whether you are driving your own vehicle or another vehicle. Underinsured insurance will cover you for the same things as UM once the other party’s insurance limits have been exhausted.
You can reach Injury Claims Lawyer J.P. Gonzalez-Sirgo by dialing his direct number at (786) 272-5841, calling the main office at (305) 461-1095, or Toll Free at 1 (866) 71-CLAIM or email J.P. directly at [email protected].