Underinsured Motorist Insurance Coverage
Underinsured motorist insurance (UM) coverage protects Florida drivers when they get in an accident with a driver who doesn’t have enough auto insurance. Typically the at-fault driver’s insurance company will pay for the damages to the policy limits, and then the underinsured coverage will cover the remainder.
Florida does not require drivers to carry underinsured motorist insurance, but they should anyway. Since Florida has the second highest rate for uninsured and underinsured motorist on the road, purchasing UM is a wise decision for those who can afford it.
Attorney for Underinsured Motorist Insurance Coverage
If you or someone you know has been in a motor accident with a driver who is underinsured, you should contact Abrams Justice Trial Attorneys today. Our attorneys are experienced with auto accidents involving at-fault underinsured drivers, and they will strive to achieve the best possible outcome for your situation.
Abrams Justice Trial Attorneys proudly serves clients in the greater Miami-Dade area including Miami, Homestead, Hialeah, Pinecrest, Miami Gardens, Miami Beach, North Miami, Doral, Coral Gables, and Cutler Bay. Call us today at (305) 709-0880 or submit your information in our online form and one of our attorneys will review your case for free.
Overview of Underinsured Motorist Insurance Coverage
- What does Underinsured Motorist Insurance Cover?
- Stacked vs. Non-Stacked
- Underinsured Motorist Insurance Coverage Resources
What does Underinsured Motorist Insurance Cover?
Underinsured motorist insurance is similar to bodily injury liability coverage in that it pays for injuries and medical expenses that resulted from an auto accident caused by a driver who did not have enough insurance to cover all injuries and damages.
Expenses that are covered under UM include:
- Lost wages
- Medical Bills
- Pain and suffering
Insurance companies are required to offer underinsured motorist insurance to drivers. If you deny the coverage, you are required to sign a statement showing that you have chosen not to include the insurance in your plan.
Underinsured motorist coverage not only applies when you and your family are in your own vehicle but also when riding in someone else’s vehicle. UM coverage also covers hit and runs, phantom vehicle collisions, and if you or your family are hit as cyclists or pedestrians.
If you do not have UM coverage and you sustain injuries from getting into an auto accident with an at-fault driver and they have no bodily injury insurance, you can not recover anything from the insurance company other than PIP coverage for lost wages and medical expenses. This means you will not receive compensation for emotional damages, loss of quality of life and other non-economic damages from their insurance.
If this does happen, you have the right to bring the at-fault driver to justice by bringing them to court and going after their personal assets.
Stacked vs. Non-Stacked
If you purchase UM insurance, you may have the ability to stack your coverage based on the number of cars you have insured. For instance, if you purchase a $100,000 policy and you insure four vehicles, you can stack the policy so there is really $400,000 in coverage.
The main advantage to having stacked coverage is that you have a higher coverage limit after an accident with an underinsured driver. If you decide not to stack the coverage, your UM limit is capped at the liability limit. By stacking you get more coverage but you will not need to raise your liability limit. On the other hand, you are likely to pay more for the coverage in exchange for the additional protection.
Non-stacked UM insurance treats each vehicle’s coverage separately, no matter how many cars are insured. If you get into an accident you will still be covered, but you will only be covered up to the coverage limit. You will more than likely pay lower premiums in exchange for lower single incidents limits, but your limits may be too low to cover post-accident expenses.
Underinsured Motorist Insurance Coverage Resources
Florida Auto Accident Statistics– Follow this link to Florida’s Integrated Report Exchange System (FIRES) to view the state’s auto accident statistics for 2018. The website allows for users to view auto accident statistics by state, county, police department and year. FIRES provides data and documents related to auto accidents in Florida.
Florida Insurance Statute – View the full text of the Florida Statute that governs insurance rates and contracts in the state. Section six of the statute covers underinsured motorist coverage and explains how long an insurer has to consider the settlement, entitlements and refusing permission to settle. The statute can be viewed on Online Sunshine, the official website for the Florida legislature.
Lawyer for Under Insured Motorist Insurance Coverage in Miami, FL
Attorneys at Abrams Justice Trial Attorneys have experience dealing with insurance companies, different policies and filing insurance claims. If you or someone you know has been in an auto accident with an underinsured motorist, you should contact Abrams Justice Trial Attorneys as soon as possible.
We proudly serve communities in the greater Miami-Dade area that includes Miami, Homestead, Hialeah, Pinecrest, Miami Gardens, Miami Beach, North Miami, Doral, Coral Gables, and Cutler Bay. Call us today at (305) 709-0880 or submit your information in our online form and one of our attorneys will review your case for free.