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The average cost of car insurance in Florida is $3,594 per year for full coverage and $1,111 per year for minimum coverage. Florida drivers pay significantly more than drivers in the nation as a ...
Uninsured/underinsured motorist coverage. Protects you if you're hit by a driver who either has no insurance or whose liability coverage limits are too low to pay for your damages.
These policies usually include liability coverage but may also provide you with medical payments, personal injury protection (PIP) and uninsured and underinsured motorist coverage.
Full coverage premiums are based on, among other factors, the value of the insured's vehicle. This coverage, however, cannot apply to rental cars because the insurance company does not want to assume responsibility for a claim greater than the value of the insured's vehicle, assuming that a rental car may be worth more than the insured's vehicle.
Most states require a victim to sue the uninsured motorist (or a fictitious John Doe hit and run driver when litigating the second category of uninsured motorist claim) for his injuries in order to prevail on a breach of contract action against the insurance carrier. Some states, such as Virginia, require that the victim actually obtain a ...
Uninsured motorist coverage typically comes in two types: Bodily Injury (UMBI), which covers medical costs, and Property Damage (UMPD), which pays for car repairs.
No-fault systems generally exempt individuals from the usual liability for causing bodily injury if they do so in a car collision; when individuals purchase "liability" insurance under those regimes, the insurance covers bodily injury to the insured party and their passengers in a car collision, regardless of which party would be liable under ordinary legal tort rules.
Uninsured/underinsured motorist coverage: Covers you for damages caused by uninsured or underinsured motorists. In a few states, this may also cover you in the case of hit-and-run accidents. Some ...