Pros and Cons of Uninsured Motorist Coverage

Car accidents, big or small, usually come when you least expect them. Proper planning can make the financial consequences less stressful. 

Anytime you’re involved in a car accident, the process likely involves many moving parts, especially when it comes to auto insurance. You’ll likely face financial burdens when an uninsured driver causes an accident. Fortunately, Florida drivers have a way to protect themselves against uninsured drivers.

Uninsured motorist (UM) coverage is a supplemental policy you can purchase to protect yourself against drivers who don’t comply with the law. Learn more about how this process works below.

Uninsured Drivers in Florida

Under Florida law, every driver must have minimal auto insurance. If you become involved in a car accident while you lack insurance, you could be given expensive citations and serious consequences. 

Although Florida law requires all drivers to have valid insurance, roughly 20% of drivers across the state drive uninsured. Florida has the sixth highest number of uninsured motorists in the country.

Uninsured Motorist Insurance Explained

As the name implies, uninsured motorist coverage is a type of additional insurance that covers the cost of damage from accidents caused by uninsured drivers

This supplemental coverage protects you from negligent motorists who don’t comply with Florida law and can be used to cover:

  • Medical bills 
  • Disability costs
  • Lost wages
  • Future loss of earnings

When someone’s negligence behind the wheel results in your injury, you should not have to bear the financial burden.

Types of Uninsured Motorist Coverage in Florida

In Florida, there are generally two types of uninsured motorist insurance policies you can purchase:

  • Uninsured motorist bodily injury (UMBI)
  • Underinsured motorist bodily injury (UIMBI)

Which type you pick will largely depend on how much coverage you want. 

Uninsured motorist policies cover the damage caused by drivers without any insurance. Underinsured policies cover damage from drivers who have some insurance but not enough to cover the total costs of the damage sustained.

Though drivers can use both policies for general damages, they cannot be used for non-economic damages, such as those awarded for pain and suffering, under Florida law. The only exception is when non-economic losses result in permanent complications, such as:

  • Loss of bodily function
  • Permanent scarring 
  • Death

In Florida, car insurance companies typically present the option to purchase UM coverage.

Pros of Uninsured Motorist Coverage

When it comes to purchasing uninsured coverage, there are many benefits, such as:

Protection for Most Car Accidents

The principal upside is that you’ll be covered for accidents under most circumstances. Although Florida is a no-fault state, once you exhaust your own insurance coverage, you may need additional money to pay for excess losses related to your crash. 

Purchasing a UM policy is one of the best ways to protect yourself from reckless and negligent drivers.

Stacking Coverage

In Florida, you can take advantage of “stacking” coverage. This means that if you own multiple vehicles covered under the same policy, you can multiply the amount of coverage for each vehicle you own. 

Example: If you own four vehicles, and each has coverage for $100,000 in damages, you can consider your coverage to be $400,000, or the total cost of all of your cars’ coverage combined. 

Cons of Uninsured Motorist Coverage

Generally, there are no actual downsides to purchasing UM coverage aside from the added cost to your monthly bill. In most cases, UM coverage is only a few extra dollars, however. The more you protect yourself against accidents, the less money you’ll have to pay out of pocket in the event of a crash.

Reach Out To an Attorney for Assistance

Regardless of the car insurance options you’ve selected, an experienced car accident lawyer can help you obtain compensation after a wreck. Most attorneys offer a free consultation to review the facts of your case as well.

Contact Our Ocala Car Accident Law Firm in North Central Florida

If you need legal assistance, contact the Ocala car accident lawyers at Allen Law Firm at your nearest location to schedule a free consultation today.

We have three convenient locations in North Central Florida:

Allen Law Firm, P.A. – Gainesville office
2550 SW 76th St #150
Gainesville, FL 32608
(877) 255-3652

Allen Law Firm, P.A. – Downtown Gainesville
621 W University Ave
Gainesville, FL 32601
(866) 928-6292

Allen Law Firm, P.A. – Ocala Office
112 S Pine Ave
Ocala, FL 34471
(352) 351-3258