According to a recent study conducted by WalletHub, Florida is the most dangerous state in the nation for drivers’ wallets. In evaluating each state’s insurance requirements and percentage of uninsured drivers, Florida ranks 51st in the nation, falling behind all other states and the District of Columbia. According to the study, which can be found at WalletHub Study, nearly 1 in 4 Florida drivers is uninsured. This means that of the 14 million licensed drivers in Florida, more than 3.3 million are uninsured. Those who are insured often carry the state’s bare minimum required insurance – just $10,000 in Personal Injury Protection (PIP or no-fault) and $10,000 in Property Damage coverage. PIP insurance generally covers a driver’s own medical bills and lost wages resulting from a car accident, regardless of whether that driver was at fault. Property damage insurance generally covers property damage that a driver causes to another, usually the other vehicle involved in the accident. Incredibly, Florida drivers are not legally required to carry bodily injury liability insurance, which covers injuries that a driver causes to another person. As unbelievable as it may sound, the Florida legislature values property more than people, as Florida law requires insurance to repair damage to a car, but it does not require insurance to repair damage to a person.
This study, and the significant flaws in Florida insurance law, highlight the importance of carrying uninsured/underinsured motorist (UM) coverage. UM insurance covers you if you are injured by another driver who has no insurance or who has insufficient insurance to cover all of your damages. Since you have no control over other drivers and what insurance they carry, UM coverage is the best way to protect yourself and your family from the many financial burdens that often result from a car crash. UM coverage also will generally cover you if you are struck by a car while a pedestrian or while riding a bike, and it will usually cover you if you are injured while a passenger in any motor vehicle. The coverage is quite broad, and is relatively inexpensive, making it a very worthwhile investment. Florida law requires insurers to offer you UM coverage when you purchase car insurance. Although it may be tempting to save a few bucks and reject it, you are taking a big risk by not having it. To learn more about the benefits of UM coverage, contact your insurance agent.
At the Romano Law Group, our accident attorneys are dedicated to fighting for victims' justice in the legal system. If you or your loved one has been injured in an accident, call 561-533-6700 for your free consultation.