Driving in Florida is riskier than you know. 25 percent of drivers in Florida are uninsured. This can be a problem for insured drivers.
The Insurance Research Council reports 27 % of Florida drivers are uninsured. When an uninsured driver is to blame within an accident, insured drivers or their insurance companies are often left to pay for the physical damage and health costs.
“Florida drivers should carry uninsured motorist coverage to protect themselves,” says Ellsworth Buck, Vice President of Insurance.
Suspended licenses are contributing to our prime numbers of uninsured drivers over the state. Nearly 2 million drivers in Florida are driving with a suspended license based on Forbes. A person might have car insurance but when their license is suspended their policy is usually cancelled or not renewed by the insurance provider. And, a valid driver's license is needed for car insurance with almost all car insurance carriers.
Likewise, an underinsured driver may not have high enough policy limits to pay for every cost of damage. Uninsured and underinsured auto coverage protects drivers once the at-fault driver doesn't have a or enough liability insurance.
“Auto insurance requirements in Florida are negligible and will not cover much in an accident,” says Buck with Insurance. In fact, the minimum requirements in Florida include $10,000 for damage to property liability (PDL) and $10,000 in injury protection (PIP).
To put it in perspective, Edmunds estimates the average cost of a second hand car is $20,000 while a new car is $37,000 based on Kelley Blue Book.
An uninsured/underinsured insurance policy is not needed in Florida, however it helps you save from paying out of pocket for an accident that isn't your fault.
Many drivers only hold the minimal car insurance. If you are in an accident it leaves you with no compensation in the at-fault driver.
