Many Florida cyclists are unaware that Florida leads the nation in the number of annual bicycle related fatalities. According to the National Highway Traffic Safety Administration, Florida has about 114 bicycle deaths each year involving an automobile. In addition, it is estimated that 1 out of every 4 drivers in Florida are uninsured. The combination of these 2 unfortunate statistics means it is essential that you and other Florida cyclists know exactly how to properly insure yourself in the event you are involved in a bicycle-car related accident.
In the state of Florida, cyclists involved in a bicycle-motor vehicle accident can seek compensation for their injuries under their own automobile insurance policy. If you look at your automobile insurance statement, you’ll find the line item called Bodily Injury/ Property Damage Liability (BI/PIP). This line item generally covers 80% of medical payments and 60% of lost wages up to the coverage amount as stated in your policy. If however, medical expenses and lost wages exceed what is covered under this area, then you are covered under the negligent party’s liability insurance. Remember however, that 1 out of every 4 Florida drivers are uninsured. This means that you must make sure you purchase sufficient “Uninsured Motorist Insurance” also known as “UM”. Uninsured Motorist Insurance is optional in the state of Florida and too often people opt NOT to buy it because they do not understand that “UM” is a critical element for guaranteeing their own financial protection in the event of an accident. If you see that you currently do not have UM insurance or it is less than your BI/PIP coverage, do yourself a favor and call your agent today and purchase it. My recommendation is to always make sure your UM coverage is as high your BI/PIP. The cost to include UM insurance on your policy is relatively inexpensive and the value is priceless.
Another step you can take to best protect yourself is to “stack” your automobile coverage. In order to “stack” your insurance, you must have more than one motor vehicle insured. If you have more than one car insured, and you purchase the “stacking” option, you are able to receive the combined coverage should you be in an accident.