Selling auto insurance is a highly competitive business. Television ads tout how one company can save you a few percentage points while another claims to be able to save you money by letting you buy only the coverage you need. The coverage you need? The problem is that most people don’t understand insurance policies and don’t really know what they need. They end up relying on the insurance agent’s recommendations. To keep your rates down and earn your business, an agent may reduce or omit one very important type of coverage known as uninsured motorist coverage or “UM”.
People buy liability insurance because they know it provides them with financial protection if they cause a crash and injure someone. Great! But what happens if someone hits you, resulting in you sustaining permanent injuries, wage loss, surgery and huge medical bills? Logically, you’d look to collect from the other driver’s liability insurance, assuming they have it. You might be surprised to learn that the State of Florida does not require motorists to carry liability insurance. Nationwide, about 13% of drivers are uninsured, but in Florida it is 27%.
That’s right, nearly 1 in 3 Florida drivers have no coverage making Florida #1 in the nation for uninsured motorists.
Mississippi, New Mexico, Michigan and Tennessee round out the top 5.
When the at-fault driver doesn’t have liability coverage or has an insufficient amount to cover your damages, UM coverage comes into play…if you purchased it. UM insurance pays YOU money when a driver with no liability insurance, or limited coverage, injures you. It applies whether you’re in a car, on a bicycle, or even as a pedestrian and hit by a car. These situations happen in an instant, and they are life-changing.
As an attorney, I find it incredibly rewarding to help injured people and their families through difficult times. I make it part of my practice to educate my clients about the various types of available insurance coverage and when each might come into play. With such knowledge, they can truly purchase the coverage they need. I would be happy to provide a complimentary coverage review so you and your family have the coverage you need….when you need it!
This blog was written by Partner Steve Clarfield.