Uninsured/Underinsured Motorist (“UM”) coverage protects you if you are involved in an accident and the at-fault person doesn’t have adequate insurance to cover your injuries. UM is probably the most important coverage to have because it protects YOU when someone else was negligent. UM is not required by law. The only insurance required by Florida law is Personal Injury Protection (“PIP”) insurance. Up to certain limits, PIP covers medical expenses and lost wages that you might incur after an auto accident. Generally, PIP pays only up to $10,000. With the high cost of medical treatment that continues to increase, $10,000 doesn’t go far. UM can cover expenses beyond the initial $10,000 of PIP coverage.
Sometimes, we hear from clients that they don’t want to file claims because they worry their insurance rates will increase. However, the entire purpose of insurance is to provide a pocket of recovery in the event of an accident.
Sometimes an insurance agent may try to sell you a policy by finding the lowest cost. This isn’t always in your best interest, especially if your policy doesn’t include UM. When upgrading or renewing your policy, make sure you have a frank conversation with your agent as to the importance of UM. Ordinarily, UM doesn’t cost much more than a policy without it. For a few dollars more, you can have peace of mind that YOU will be protected in the event of a serious injury.
If you have any questions about your policy and what it covers, we at PERENICH The Law Firm are happy to provide you with a free policy review.