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Understanding UM Insurance Coverage

Uninsured Motorist Coverage (UM): A Vital Shield for Vehicle Owners

According to The Perazzo Law Firm, Uninsured Motorist Insurance (UM) stands out as a paramount insurance policy for vehicle owners. This importance arises from the fact that many drivers on the road either lack insurance altogether or possess insufficient coverage to address injuries, property damage, or harm to loved ones. Florida, ranking among the top five states with a high prevalence of uninsured motorists, underscores the significance of UM coverage.

Why Personal Injury Protection (PIP) Falls Short

Personal Injury Protection (PIP) coverage, while valuable, has its limitations. It solely covers a restricted portion of medical expenses and fails to account for intangible losses like pain and suffering. Furthermore, it proves insufficient when faced with expenses surpassing the coverage cap in severe accidents. For example, medical bills stemming from injuries such as facial trauma, fractures, or breaks can easily exceed $100,000. Basic coverage policies like PIP and property damage (PD) do not bridge the financial gaps for treating severe injuries, addressing pain and suffering, compensating for lost wages, or repairing vehicle damages. This underscores the indispensability of UM coverage in such circumstances.

Obtaining UM Coverage

UM coverage is readily available through insurance carriers, and policyholders have the prerogative to either accept or decline it. However, to secure UM or Under-Insured Motorist (UIM) coverage, vehicle owners must hold Bodily Injury Protection (BI) insurance. Despite the inherent value of UM insurance, insurance providers usually handle the BI contract on behalf of policyholders. Notably, while insurers possess information about policyholders, they cannot predict the risk of someone else causing an accident. Due to the regulated nature of UM premiums under Florida law and the elevated risk for insurance companies, providers might not actively offer or elucidate the significance of this coverage.

The Urgent Recommendation from The Perazzo Law Firm

The Perazzo Law Firm emphatically advises vehicle owners to acquire UM or UIM coverage. This counsel arises from the potential financial burdens resulting from another party’s negligence or fault, as well as for incidents involving hit and run drivers. When coupled with PIP and PD coverage, UM steps in to address pain, suffering, lost wages, and various other losses in accordance with the chosen coverage level.

Exploring the Two Facets of UM Coverage

UM coverage comes in two variants: Stacked and Unstacked. Stacked UM treats each vehicle individually and aggregates coverage based on the number of vehicles covered by the policy. Additionally, it extends coverage to the policyholder, specified individuals in the policy, and household family members, irrespective of the vehicle they occupied during the accident. In contrast, Unstacked UM is designed for a single vehicle, specifying a fixed coverage limit within the policy. This variant does not extend to vehicles beyond those explicitly included in the policy.

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