UNINSURED AND UNDERINSURED
MOTORISTS COVERAGE
Being involved in any type of auto accident can create chaos in your life. Being injured by an uninsured or underinsured motorist can compound the worry. How will you pay for your medical bills, lost wages, or pain and suffering?
If you have been involved in an accident with an uninsured or underinsured motorist, or if you were injured in a hit and run accident, you may be able to recover compensation from your own insurance company if you carry uninsured or underinsured motorist (UIM) coverage.
Uninsured motorist coverage shifts the financial liability from your shoulders to your insurance company. After paying you for your accident-related damages within the limits of your Underinsured Motorist coverage, your insurer can seek reimbursement of those monies from the at-fault party, which is called subrogation.
If more than one vehicle is insured on your policy, coverage may be stacked. For example, if you have $20,000.00 in stacking uninsured motorist coverage and two vehicles on your policy, you may receive up to $40,000.00 in benefits for compensable damages in the event of an uninsured or underinsured motorist accident.
Because Florida law does not require drivers to carry Bodily Injury Liability coverage in most circumstances, there is a risk of being exposed to financial liability after an accident. Therefore, it is my opinion that Uninsured or Underinsured motorist coverage is one of the most important auto coverages you can purchase.