When a negligent driver or vehicle owner causes you bodily injury, significant medical bills or loss of income, there is the possibility that the driver will have limited or no insurance to pay for your losses. In hit-and-run accidents you may not have an opportunity to get the driver’s information. In these situations, you suffer potentially catastrophic financial losses without hope for reimbursement—unless you have uninsured/underinsured motorist (UM/UIM) coverage.
UM/UIM coverage is important protection to have for your family. In the unfortunate event that a negligent driver causes you harm, but does not have sufficient coverage, your insurance carrier will step in. Your own insurance will provide you with payments up to the UM/UIM coverage limits you purchased.
According to Florida law, your agent must offer you UM/UIM coverage when you purchase automobile insurance. You have the right to obtain UM/UIM coverage up to the limit of the amount of bodily injury coverage you purchase. Do not waive that right.
If you are unsure of how much bodily injury coverage you should purchase, discuss your concerns with your agent. We strongly recommend that you purchase at least $100,000 of bodily injury coverage. This will allow you to purchase UM/UIM coverage up to $100,000 per automobile. If your financial circumstances warrant, you should buy higher limits of both bodily injury and UM/UIM coverage.
Florida law allows insureds to stack their UM/UIM policies. Stacking enables you to combine all UM/UIM coverages from each of your vehicles when you make a single claim.
When an accident is the result of someone else’s negligence, we encourage accident victims or their families to reach out to a competent, compassionate and aggressive legal team.
This newsletter is for general information and education purposes only.
It is not offered as legal advice or legal opinion.
To the extent this message contains tax advice, the U.S. Treasury Department requires us to inform you that any advice in this letter is not intended or written by our firm to be used, and cannot be used by any taxpayer, for the purpose of avoiding any penalties that may be imposed under the Internal Revenue Code. Advice from our firm relating to Federal tax matters may not be used in promoting, marketing or recommending any entity, investment plan or arrangement to any taxpayer.