Why Uninsured Motorist Coverage is worth the extra premium

When purchasing car insurance in the state of Florida, one should always purchase Uninsured Motorist Coverage, also known as UM.  Uninsured Motorist coverage comes into play when a person is involved in a car accident and hit by an uninsured motorist.  The at-fault driver who caused the accident could either be driving with no car insurance at all or could be driving with state mandated minimum coverage (which unfortunately only mandates PIP/No-Fault coverage and Property Damage coverage, but does not mandate Bodily Injury coverage).  Either way, the at-fault party who is liable for damages as a result of the bodily injuries he or she caused as a result of the motor vehicle collision is not driving with or carrying Bodily Injury (BI) Coverage.  As a result, an injured party cannot be compensated by the at-fault party’s insurance since the at-fault party was not driving with any BI coverage.  However, if an injured party purchased UM, essentially that injured person can make a claim against his or her own insurance company to compensate himself or herself for bodily injuries suffered as a result of the motor vehicle collision.  UM coverage essentially steps into the shoes and becomes the bodily injury coverage through which to compensate injured parties who were not liable and not at-fault for the accident.  Additionally, it is important to note that UM coverage, if elected, can either be purchased as stacked or non-stacked Uninsured Motorist coverage.  If a person elects non-stacked coverage (which is a lower premium amount), then his or her uninsured motorist coverage is equal to the amount purchased no matter how many vehicles are listed on the car insurance policy.  If you purchase stacked Uninsured Motorist coverage, then your UM coverage is multiplied by the number of vehicles listed on your car insurance policy.  For example, if a person purchased stacked Uninsured Motorist in the amount of $10,000/$20,000 (limits per person and per accident) and has three (3) vehicles listed on his car insurance policy, then his UM coverage becomes $30,000/$60,000 (limits per person and per accident).  As such, stacked Uninsured Motorist coverage can be a powerful multiplier for uninsured motorist coverage.  Any way you look at it, Uninsured Motorist coverage should be purchased by all drivers who can afford the extra premium.