The Benefits of Uninsured Motorist Coverage
Since Florida is a no-fault insurance state, many holders of auto insurance policies assume that they’re covered for any contingency. What they don’t typically take into consideration is an uninsured driver and the potential for liability.
Insurance Requirements
Florida motorists are required to carry $10,000 in personal injury protection (PIP) and $10,000 in property damage liability (PDL) to register a vehicle. The policy and limits are often referred to as uninsured motorist insurance, as they protect individuals against drivers that don’t carry any type of auto policy.
High Number of Uninsured Drivers
Uninsured motorist coverage provides drivers with protection if they’re in an accident with a driver that doesn’t have insurance. More than 26.7 percent of Florida drivers are uninsured and the state ranks 6th in the nation for the largest number of uninsured motorists, both good reasons to obtain uninsured motorist protection.
Litigation is a Possibility
Your insurance will cover damages to your vehicle and any medical expenses you incur to the limits of your coverage. However, with the rising cost of medical care, your insurance may not be enough to account for medical expenses, lost wages or pay for any damages to your vehicle for which you’re responsible.
You can sue the other driver, but the chances are slim that they can pay any financial judgement the court would assess against them and litigation can be a long and costly process.
Conversely, the uninsured motorist can initiate litigation against you to cover their medical expenses and losses, even if they were at fault. The uninsured driver will incur penalties, but that doesn’t prevent them from taking legal action – and some unscrupulous drivers even count on that.
Financial Protection
An uninsured motorist policy will provide protect for individuals in most types of accidents. It’s a good idea to consider increasing coverage, as the minimum amount probably won’t be enough in the event of a serious accident.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
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The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487
