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December 13, 2021

What is Uninsured Motorist Coverage?

picture of paper with uninsured motorist on it with the word crossed out in front of a car with a dent in it.

Even if you have the necessary protection and coverage for your vehicle in case of an emergency, there’s no guarantee that a driver who causes the accident is insured. Jessica Hurt, a senior client relations specialist and agent at Wiglesworth-Rindom says “Sadly in Florida, more than 1 in 5 drivers are uninsured or underinsured — leaving you at risk.” 

In a case like this, Uninsured Motorist (UM) coverage can save you money on expenses you’d be left to pay on your own otherwise.

What Does Uninsured Motorist Insurance Cover?

Uninsured Motorist coverage pays for any medical bills and other expenses that you could incur, not only for yourself but also your passengers. Uninsured Motorist coverage can also pay for pain and suffering compensation as well as any lost wages incurred from taking off work while recovering.

Pain and suffering compensation includes retrofitting your house and vehicle for any wheelchair accessibility needs. In the event of long-term injuries, pain and suffering compensation can help you with these costs over time. Even if you’re confident in your own Health Insurance, Uninsured Motorist coverage will help in the event that your limit is exhausted.  

As Florida is a no-fault state, without UM coverage, your Personal Injury Protection (PIP) would cover medical expenses for yourself but not any of your passengers that may also have been injured. In Florida, PIP can only cover up to 60% of lost wages. In comparison to UM coverage, more coverage is set aside for you as well as whatever outcomes may arise after an accident.

Do I Need Uninsured Motorist Coverage in Florida?

In short answer: YES! But the more important question would be “Why?” In Florida, it is not a requirement to carry UM coverage. However, if your current Personal Injury Protection of $10,000 is quickly exhausted, this minimum amount wouldn’t be able to cover damages from more severe accidents. With the amount of uninsured and underinsured motorists in the state, it is an added protection that most motorists like to have. It is one of the most frequently used coverages in our agency.  

What Is Stacked Uninsured Motorist Coverage?

Stacked UM coverage allows insureds to combine coverage limits on multiple vehicles. By combining limits into a higher total limit, you’ll have a greater maximum amount that your insurance will pay for your claim. Thus, you’ll have greater protection for an incident you may have with an uninsured or underinsured motorist. 

So, if you’re asking yourself “Do I need Stacked Uninsured Motorist coverage?” this depends on how many vehicles you want to protect. Florida policy allows insureds to stack their coverage; this may look like insuring two vehicles on the same policy or listing your name on two car insurance policies across difference vehicles. Higher coverage does entail a higher premium; however, this higher coverage leads to you paying less out-of-pocket in the case of an accident.

What Is Unstacked Uninsured Motorist Coverage?

Non-stacked UM coverage means that your limits are not combined. So, if your damages exceed your limit, any additional expenses would be paid by you as the insured. To compare it directly with Stacked UM coverage: in a case like this, Stacked UM would allow you to apply coverage from another vehicle to pay for any expenses. Compared to stacked coverage, Non-stacked UM coverage have lower premiums. If you have any questions about whether stacked or non-stacked coverage would be more beneficial for you, a Wiglesworth-Rindom agent can help assess your background and provide quotes.Miami Bridge and Road

Why Is Uninsured Motorist Coverage Expensive?

Florida is one of the most uninsured and underinsured states, the odds of your accident involving someone who is not protected are much higher than in other states. Florida doesn’t even require motorists to have Bodily Injury Liability coverage; meaning that your Personal Injury Protection is what would be used in the case of an accident — and for many this would not be enough coverage after an accident. 

Due to low state coverage requirements, UM coverage is expensive for Florida motorists. Despite the expense on paper, it can relieve financial and emotional stress for drivers and passengers after an accident. For this reason, and as more people begin driving regularly once again as we return to normalcy, Uninsured Motorist coverage can be a huge benefit when the unexpected happens. 

At Wiglesworth-Rindom Insurance Agency, we’re here to help you be protected for the unexpected in life. You can get a quote for Uninsured Motorist coverage by calling any of our agents. Our agency has been voted the Best of Palm Beach County and the Treasure Coast; we make the insurance buying experience easy and informative for clients. Get protection and start your quote online now by clicking here or call us at 561-637-2424 to speak with an agent! 

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