Why you should have uninsured motorist coverage

Why you should have uninsured motorist coverage. UM coverage is also known as underinsured motorist coverage.

Mark: I was having a discussion with my wife and car insurance; this is a no-fault state. What liability do we face if we do not have uninsured motorist coverage? As I understand the law in Florida, you are not required to have UM coverage called uninsured motorist or sometimes called underinsured motorist coverage.

Attorney Tom Olsen: So Mark, what does that mean to you if you don’t have UM coverage and somebody hits you and they don’t have insurance or they hit you and they drive away? You may not have insurance to cover you loss.

If somebody hits you and they do terrible injuries to you and they have the minimum $10,000 of coverage, you may not be – have enough money or insurance coverage to cover your loss. So, most insurance agents these days, as I understand it, would recommend that you, Mark, have UM coverage and I certainly do.

Mark: Thank you. Very good. I appreciate it.

Attorney Tom Olsen: Okay, I mean that’s a fact of life, folks. You know, people are required to have insurance to drive their cars here in the state of Florida, but they’re required to have $10,000 worth of insurance.

As I understand it, if you’re in a terrible automobile accident, your damage is going to be a whole lot more than $10,000. We’re talking about damages to your body of course. So, it is wise to have UM coverage and it is wise to have some high coverage on your cars and it is wise to have an umbrella policy as well.

I mean, the bottom line is, being well insured is a great investment on your part. I recommend it to people.

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