Whether you are a tourist on vacation or a Floridian on the way to work, a new study encourages you to remain cautious on the roads. The personal finance website, WalletHub.com, has released the results of a study, which analyzed several risk factors, such as minimum auto insurance coverage requirements and percentage of uninsured drivers, in order to determine the states with the highest and lowest financial risks for drivers.
WalletHub.com’s study designated Florida as the financially riskiest of the United States in which to be a driver. The study revealed 23.8% of Floridians ignore the rules and fail to carry motor vehicle insurance. The state of Florida is only one of two states noted in the top ten “riskiest” states that require any additional type of insurance other than liability such as personal injury coverage (PIP coverage). Florida requires $10,000 for PIP coverage, $20,000 coverage per accident for bodily injury and $10,000 per accident for property damage coverage.
The state of Maine was deemed the least risky state in the United States considering the much higher required coverage: $50,000/$100,000/$25,000 liability insurance. The study estimated that only 4.7% of drivers in Maine are uninsured.
In the United States over 30,000 people are killed in car accidents annually. In the state of Florida alone crash-related death costs annually amount to approximately $3.16 billion ($40 million in medical costs and $3.12 billion in loss wages). Those who fall victim most often are young adult drivers (20-34) followed by adults (35-64).
If you or a loved one have been involved in a car accident due to another driver’s negligence you could be entitled to compensation for you injuries. Law suits can be complicated and difficult to navigate without the assistance of an experienced attorney.