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YourHub.com \\ Jensen Beach \\ Stories \\ Tips & Techniques \\ General Tips & Techniques

Avoid A Common Auto Insurance Mistake!

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Contributed by: Jason Guari on 6/12/2007

For this month's LAW CORNER, I wanted to talk about Uninsured Motorist Protection (or UM Insurance Coverage) and the importance of carrying this type of insurance if you are driver in the State of Florida.

Unfortunately, many people realize the significance of UM coverage too late-that is after they or their family members have been seriously injured by an uninsured driver.

UM coverage provides protection to you, resident relatives and other passengers in your vehicle if you are involved in an automotive accident with someone who does not have liability coverage. It also provides coverage if you are injured in a hit and run accident.

The State of Florida doesn't require drivers to carry bodily injury (BI) liability insurance. It's estimated that 1 in 4 drivers are uninsured or underinsured. The likelihood of being in an auto accident with someone who doesn't have bodily injury coverage is substantial. In this event, you may make a claim under your UM coverage.

If you don't have UM coverage, you are in an accident with an uninsured driver and suffer personal injury caused by them, most likely, you will not receive adequate compensation to pay for your medical bills, lost wages, pain and suffering, and loss of capacity to enjoy life.

Don't just rely on your insurance agent or insurance company to advise you that your automobile policy has full coverage. Under Florida law, full coverage only means carrying Personal Injury Protection (PIP) and Property Damage (PD) coverage. Full coverage does not mean that you have UM insurance. I encourage you to ask for this coverage and check your policy to ensure you have it. Given the competition among insurance companies and the price sensitivity of consumer, insurance agents and companies rarely mention UM coverage. To get UM coverage, you will usually have to specifically ask for it.

UM coverage comes in 2 ways - "Stacked" or "Unstacked". Simply stated, "stacked" multiplies your limits for this coverage by the number of cars you're insuring.

For example, if you have 2 cars in your household and choose Stacked Coverage, the UM benefit amount is multiplied by 2. Although having Stacked Coverage increases your premiums, the UM benefits double, thereby providing you with added personal protection.

If you are not sure if you have Uninsured Motorist Protection, please check you policy or contact your insurance company. If you have any questions regarding your auto insurance policy or need additional information on uninsured/underinsured motorist coverage, please do not hesitate to contact me, Jason Guari at (561) 366-9099, at jguari@murrayguari.com or visit my website at www.murrayguari.com.