According to a recent study done by the Insurance Research Council, Florida ranks very high for the most uninsured motorists. Approximately 26.7% of motorists are uninsured even though Florida requires auto insurance. That means 1 in 4 drivers are getting behind the wheel each day with no insurance!
What Are Uninsured & Underinsured Motorist Coverage?
Uninsured motorist coverage will provide you with a reimbursement for damages if you are involved in an accident with a hit-and-run driver or a driver who has no auto insurance coverage. Underinsured motorist coverage provides additional reimbursement for damages if the driver who hit you does not have adequate insurance to cover those damages. In Florida, uninsured or underinsured motorist coverage is voluntary. If you choose not to have the additional coverage, your insurance carrier is required to have you sign a form rejecting the coverage.
Your uninsured or underinsured motorist coverage can be stacked or non-stacked. Stacked coverage means that the amount you can claim is equal to the sum of the amounts of uninsured or underinsured motorist coverage assigned to each vehicle on your policy. For example, if you have $10,000 in uninsured motorist coverage on each vehicle and you have three vehicles on your policy, selecting stacked coverage means you have $30,000 in uninsured or underinsured motorist coverage.
Your Next Step
Navigating insurance policies can be tricky. If you are unsure whether you have uninsured/underinsured motorist coverage, contact your insurance carrier to find out. If you have been involved in an accident and need legal help, contact the auto accident attorneys at Wilkes & Mee for a free consultation.