So you are asking right about now, "Rick, what is UMBI and why do I need it?" Fair questions and here's why: UMBI protects you, your family and your passengers if you are hit and injured by someone with no insurance, too little insurance or if you're the victim of a hit and run driver. It's that simple.
You may ask as a follow-up question, "Rick, why would my agent or the insurance company advise me to reject UMBI if it's so important to me and my family?" (Excellent question, by the way.) The short answer: Money. More to the point: insurers hate to pay UMBI claims because they are caused BY PEOPLE THE INSURANCE COMPANY DOESN'T KNOW WITH UNKNOWN DRIVING HISTORIES AND ARE CLAIMS THAT ARE VERY LIKELY TO COST THE INSURER SIGNIFICANT MONEY. (See how it all comes back to money?)
The insurance companies know that there were over 70,000 hit and run accidents last year in Florida. That's 70,000 potential UMBI claims if the victims suffer a permanent injury. That's 70,000 claims they can avoid paying if they convince you to decline UMBI coverage.
How do you make sure you have UMBI? First, refuse to sign the UMBI rejection form when asked (and you will be asked). Second, have one of our attorneys check your auto policy for free. Just call us.
We have had literally dozens if not hundreds of potential clients who were left with no case because the at-fault driver had no insurance or hit and ran and the client had no UMBI. Don't let that happen to you. Make sure you have UMBI.