(Newswire.net — October 15, 2018) — 13% of the drivers on the road involved in accidents today are uninsured, according to the Insurance Research Council (IRC). That number has been rising steadily since the low of 12.3% back in 2010.
The numbers vary by state with Florida boasting the largest number of uninsured motorists. The latest study shows more than a quarter (26.7%) of the Sunshine state’s drivers do not carry auto insurance. By comparison, Maine had the lowest rate in the nation at 4.5%. Vermont (6.8%), North Carolina (6.5%), Massachusetts (6.2%), New York (6.1%), and Maine (4.5%) had the lowest percentage of uninsured motorists.
States with the Highest Rate of Uninsured Motorists
- Florida 26.7%
- Mississippi 23.7%
- New Mexico 20.8%
- Michigan 20.3%
- Tennessee 20%
The large number of uninsured drivers impacts motorists in two different ways. If you have adequate insurance on your vehicle, a portion of your premium includes coverage for uninsured and underinsured drivers.
“In addition to paying for their own actions, each insured motorist also pays a portion of the costs for others that choose to disobey the law,” wrote the National Association of Insurance Commissioners (NAIC) in its report Uninsured Motorists: A Growing Problem for Consumers.
The more uninsured drivers there are on the road, the more you will pay to compensate for them. The typical auto policy costs an additional $67 a year due to uninsured motorists due to the nearly $12 billion a year in claims.
For drivers that get into accidents with uninsured drivers, it can be even more costly. If the damage exceeds your own policy limits, or you don’t have full collision coverage on your policy, you may wind up paying out of pocket. These costs do not include the costs involved in law enforcement pursuing uninsured drivers, license revocation hearings, or other court costs. These hidden costs are part of the taxes you already pay to fund local governments.
If you ever do have to go to court to try to recover money from an uninsured driver or an insurance company, you will also need legal representation. Navigating the legal system and dealing with insurance company lawyers can be difficult without a good law firm to help.