Florida High Uninsured Driver Rates And What This Means For You
According to a 2021 study by the Insurance Research Council (IRC), in 2019, 12.6% of drivers in America were uninsured. This means that in 2019, one in eight drivers on the American roads was driving without insurance. This does not even take into consideration that ¼ crashes are “hit and run”. Across states, the rate of uninsured motorists varies greatly. According to the IRC, in 2019, Mississippi had the highest percentage of uninsured drivers (29.4%), and New Jersey had the lowest percentage of uninsured drivers (3.1%). Florida has the sixth-highest number of uninsured motorists. This means that in 2019, Florida was the sixth-worst state in America for the most uninsured motorists. According to the IRC, in 2019, the number of uninsured drivers in the state of Florida stood at 20.4%.
If you are in Florida and have enough auto insurance, you might be wondering what uninsured drivers have to do with you or why you should be concerned that a significant number of Florida motorists do not have auto insurance.
So, what do uninsured drivers have to do with you, and why should you be concerned that a significant number of Florida drivers do not have auto insurance? Read on to find out.
Uninsured Drivers Increase the Cost of Insurance
If you have auto insurance, you should know that uninsured motorists increase the cost of insurance for those with insurance. This is according to the IRC. Unfortunately, it is hard to keep insurance affordable when a significant number of motorists refuse to carry their fair share of the costs.
The High Rate of Uninsured Drivers Means You Should Have Uninsured and Underinsured Motorist (UM/UIM) Coverage
UM coverage protects you from motorists who don’t have insurance, whereas UIM coverage protects you from drivers who are insured but do not have enough insurance coverage. Even though you are not required to have uninsured and underinsured motorist coverage in Florida, the high rate of uninsured motorists in Florida means you need to consider this type of insurance. Unfortunately, uninsured and underinsured motorist (UM/UIM) coverage is among the most overlooked coverages in an auto policy. Yet, it is quite crucial, especially considering how many drivers in Florida are driving without insurance or enough insurance.
Advantages of Having Uninsured and Underinsured Motorist Coverage in Florida
As already mentioned, UM/UIM coverage can protect you when you get injured in an accident involving an underinsured or uninsured driver. If you have UM/UIM coverage, your insurance company will compensate you if you get injured in an accident involving a UM/UIM motorist. For instance, when it comes to underinsured motorist coverage, if you get into an accident and suffer losses amounting to $40,000, but the at-fault party’s insurance can only cover $20,000, your UIM coverage will kick in and cover the additional expenses. Also, UM/UIM coverage can protect you if you suffer injuries in a hit-and-run accident.
Contact a Parkland Car Accident Attorney
If you need more information on UM/UIM coverage, for example, if you want to know how you can add UM/UIM coverage in your policy, or if you need help with a Florida car accident case, contact a Parkland car accident lawyer at Lyons & Snyder.
Resource:
insurance-research.org/sites/default/files/downloads/UM%20NR%20032221.pdf
