What is Uninsured Motorist Insurance (UM) and Do I Have It?

Many people don't find out if they have uninsured or underinsured motorist coverage (UM Coverage) until it is too late. Many believe, as do I, that UM coverage is the most important auto insurance coverage you can purchase to protect yourself.

When you purchase UM coverage, you protect you and your family from financial loss in the event you or your family are severely injured in an auto accident.  Essentially, you have retained your insurance company to insure all vehicles on the road.

If you are injured and the responsible party does not have insurance or the policy is not sufficient to compensate you for your damages, your insurance company provides coverage under your UM policy to help.  

In fact, the Florida legislature has determined that UM coverage is so valuable that Florida law requires your insurance company to offer UM coverage with any policy that carries bodily injury coverage. You may reject UM coverage but your insurance company is required to have you sign a selection/rejection form to do so. It is also your insurance company's responsibility to maintain that form in the event a UM claim is made. Case law indicates that if your insurance company can not provide a rejection/selection form, they are required to provide UM coverage for you in the same amount as the Bodily Injury coverage you purchased.

UM coverage is also unique in other ways. First, it carries a five year (instead of 4) statute of limitations because it is a contractual claim. Also, UM coverage can provide additional protection not only for you but also the occupants of your vehicle and any resident relatives. Finally, UM coverage is sold in a stacking versus non-stacking form. Essentially, if you purchase stacking UM coverage the limits will be multiplied by the number of vehicles on the policy.
 
These are important issues to consider now before you are in a position to need them.

If you or a loved one has been injured in an auto, motorcycle, or truck crash, call us today.  We represent injured people throughout Florida in their claims against the insurance companies.  We work on a contingent fee basis which means we do not earn our fee unless we make a financial recovery for you.