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CarOn average, a traffic accident in Florida happens every two minutes. While the accidents themselves are bad enough, Florida also has some of the nation's highest insurance premiums.

Many drivers don't have insurance, even though it's required by law, and oftentimes legal drivers end up paying for the illegal ones.

A study from the Insurance Research Council found that Florida ranks second in the nation with more than 3.2 million uninsured drivers.

Florida's No-Fault insurance laws require you to have a minimum of $10,000 of Personal Injury Protection (PIP) and $10,000 of Property Damage Liability Insurance. But depending on the circumstances of an accident, you might not have enough insurance with a minimum policy to cover all of the expenses associated with a crash.

Lynne McChristian from the Insurance Information Institute explains why if the person who caused the accident is uninsured or underinsured, you'll have to fall back on your policy - and hope it's enough.

"The only way to recover your costs would be to sue that person - but the problem is that a lot of uninsured motorists don't have assets," McChristian says.

It's not an easy problem to solve either, because - though illegal - uninsured drivers aren't necessarily easy to catch.

"People don't get caught without insurance unless there is an accident, and then there could be serious consequences not only for that driver who doesn't have insurance, but also for anyone they injure in a crash," McChristian explains.

She says the best way to ensure that you're protected no matter what is by purchasing a policy known as Underinsured Motorist coverage.

"This is optional coverage but it's really important to have," she says, "This will help protect you and pay for any costs that you might have if you were unlucky enough to get into an accident with an uninsured driver."

You may be following the law, but you should still take steps to make sure you're protected against those who aren't.

Experts say it's also a good idea to review your policy with your insurance company every year to understand exactly what you're paying for, what's being covered, and to revisit possible discounts you may qualify for.

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Make sure you're covered with the right policy. Call Prestige Insurance Group, Inc. at (305) 969-8776 for more information on Miami auto insurance.

(Article courtesy: Emily Burris via WCJB)
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