How to better protect you and your family if you are injured by an uninsured driver.
Uninsured motorists coverage provides compensation to an insured for bodily injury or wrongful death damages inflicted by the negligence of an uninsured motorist. This coverage also provided these damages to one who is injured by the negligence of an underinsured motorist. That is, a negligent driver who does not maintain sufficient bodily injury liability insurance to adequately compensate in injured person for their full amount of damages.
The purpose of uninsured and underinsured motorists coverage is to allow an insured the same coverage that would have been available had the negligent driver obtained liability coverage equal to that of the insured.
In a recent study published by the Insurance Research Council, it was estimated that one in six drivers across the United States may be driving uninsured by 2010. The news was even worse for those of us in Florida, as the study also indicated that twenty three percent (23%) of all Florida drivers were uninsured as recently as 2007. The problem becomes even more apparent when you consider that Florida is currently one of the states that does not require drivers to carry bodily injury liability coverage.
In these down economic times, this problem is likely to worsen as more and more people are unable or unwilling to purchase sufficient liability coverage for their vehicles. The Insurance Research Council concluded that "an increase in the number of uninsured motorists is an unfortunate consequence of the economic downturn and illustrates how virtually everyone is affected by recent economic developments". The is apparently a strong link between the unemployment rate and the number of uninsured motorists.
So, how do you protect yourself? The short answer is to purchase as much uninsured motorists coverage as you can reasonably afford, given your financial situation and resources. You should realize that if you are in an accident, it is likely that the negligent driver will not have any or not have enough bodily injury liability coverage to compensate you for your damages. If you have uninsured motorists coverage, you are protecting yourself and your family up to the limits of your coverage. This coverage is not required in Florida but it is certainly a smart move on your part to include it on your automobile insurance policy.
If you have any additional questions about this type of coverage or any other issues related to an automobile accident, please contact our office.
