How much does uninsured/underinsured motorist insurance cost? UIM is much cheaper than standard bodily injury and property damage insurance. Based on sample quotes for a 34-year-old married man, premiums for a $25,000/$50,000 policy range from $33–$76 per year.

Should I reject stacked uninsured motorist coverage?

Yes, you can reject stacked uninsured and underinsured motorist coverage limits. If you reject stacked insurance limits, each of your vehicles will have their own UM and UIM coverage limits. Most insurance companies will make you sign a waiver when rejecting stacked UM and UIM coverage limits.

What is the function of uninsured motorist coverage?

The primary function of uninsured motorist coverage is to pay medical bills after a car accident with an uninsured driver. If you have good health insurance, you may not feel you need UM coverage.

What happens if you get hit by an uninsured motorist?

If you get hit by someone who doesn’t have auto insurance, uninsured motorist coverage pays for your medical bills, lost wages, pain and suffering and funeral expenses. In some states, uninsured motorist coverage will also cover your car damage.

Do you need car insurance if you are an uninsured driver?

In states where uninsured motorist property damage coverage is available, you may not need it. Collision insurance will also cover damage to your car if someone else hits it, and it will cover a wide variety of circumstances, not just an uninsured driver. Does your state have a lot of drivers without insurance?

How much does uninsured motorist insurance cost in Florida?

You pay more upfront to reduce potential costs later. Uninsured motorist coverage costs vary greatly by state and provider. On average, UM coverage can cost anywhere from $18 in Massachusetts to $267 in Florida. If you are willing to pay out-of-pocket for expenses caused by an uninsured driver, then you can certainly take that risk.