Uninsured and Underinsured Motorists

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While most drivers on the road have auto insurance coverage, some drivers do not. Further, some drivers do not have adequate coverage in the event that they are responsible for moderate to severe property damage and injuries. If you are hit and injured by a driver who is uninsured or underinsured, and you do not have a policy that covers these events, you could be financially responsible for the accident, including your injuries and property damage.

Fortunately, drivers have the option to purchase uninsured and underinsured motorist coverage, which covers medical expenses, lost wages, and emotional distress such as pain and suffering, in the case that the other driver does not have enough insurance or assets to cover the claim. This kind of auto insurance coverage can mean the difference between financial security and financial disaster after a car accident.

Therefore, uninsured and underinsured motorist coverages apply in the situation that you are not at-fault and the at-fault driver does not have sufficient, or any, liability insurance to cover the costs of your injuries and property damage. The difference between being involved in an accident with an uninsured and underinsured driver is as follows:

Uninsured motorist coverage works like liability insurance. This type of car insurance that pays for the policyholder’s expenses after an accident caused by a driver who doesn’t have any insurance. In the case that you have an accident with an uninsured motorist, this coverage replaces the liability coverage, which is the minimum coverage that the at-fault driver should have had in the first place.

Underinsured motorist coverage applies when the at-fault driver has auto insurance coverage, but their policy cannot cover the costs associated with the accident. In Florida, all drivers are required to carry liability insurance, but drivers may just meet the minimum requirements, so that in the event that the medical expenses, lost wages, property damage, and pain and suffering exceeds $10,000, the driver who is not at fault is left with mounting bills. While a driver might be able to file a lawsuit if the at-fault driver has assets, in some situations, the at-fault driver does not have any assets and the accident victim is left in financial ruin as a result of the accident’s damages. Unfortunately, these types of accidents are common.

But if you purchase underinsured and uninsured coverage as part of your own insurance policy, the following damages may be covered.

  • Lost wages
  • Medical expenses
  • Pain and suffering
  • Related damages to your car

The amount of coverage that you purchase depends on a variety of factors, including how much you drive for business or work, where you live and your particular budget. However, based on data from 2019, up to 12 percent of drivers are uninsured motorists. Therefore, by adding underinsured or uninsured coverage to your policy, you can protect yourself from financial ruin in the case that you are involved in an accident with someone who does not have auto insurance or does not have enough on their policy to cover the damages