Is Uninsured Motorist Coverage Worth It?

Yes, uninsured motorist coverage is worth it for the vast majority of drivers. It is one of the most affordable coverages on your auto policy, and it protects you against a risk that is more common than most people realize — being hit by someone who cannot pay for the damage they cause.

The risk is real

Roughly 13% of drivers nationwide are uninsured, and many more carry only state-minimum liability limits that are far too low to cover a serious accident. In Florida, the uninsured rate has historically been among the highest in the country. If you drive daily, the odds of eventually being in an accident with an uninsured or underinsured driver are significant over a lifetime of driving.

The cost is low

Uninsured motorist coverage typically adds $50 to $200 per year to your auto policy, depending on your state and limits. For that cost, you get coverage for medical bills, lost wages, and pain and suffering if an uninsured driver injures you. Compare that to a single emergency room visit that can easily cost $10,000 or more, and the math is obvious.

What happens without it

• Medical bills on you: If an uninsured driver injures you and you do not have UM coverage, your health insurance may cover some medical costs — but with copays, deductibles, and possible coverage limits. You get no compensation for lost wages or pain and suffering.
• Suing the at-fault driver: You could sue, but an uninsured driver likely has few assets to collect from. Winning a judgment you cannot collect is a hollow victory.
• Hit-and-run scenarios: If the at-fault driver flees the scene and is never identified, UM coverage may be your only source of compensation.

Stacking in Florida

Florida allows "stacking" of UM coverage, which means you can combine the UM limits from multiple vehicles on the same policy for a higher total limit. If you have two cars each with $100,000 in UM coverage and stacking is enabled, you have $200,000 available. Stacking costs more but can significantly increase your protection.

What Truscott recommends

We recommend uninsured motorist coverage for every driver we work with. The cost is minimal and the protection is substantial. At Truscott, we make sure your UM limits provide meaningful protection. Request a Truscott policy checkup and we will ensure this critical coverage is on your policy.