Beware of the Uninsured Motorists!
Uninsured drivers are a huge problem across the United States. Each year billions are paid out in uninsured motorists’ claims. Even though uninsured motorists have steadily declined over the past decade, some states still have one in four drivers driving without insurance. You can protect yourself with an insurance coverage called uninsured motorist coverage.
What is uninsured and underinsured motorist coverage?
This coverage is there to protect you, your assets, and help cover medical bills when in an accident with an uninsured or under-insured motorist. It works just like if the other driver had insurance.
Depending on the severity of the accident, you may have to cover not only the damage to your vehicle but also any medical costs for anyone in your vehicle and even loss of income if you cannot work. If the other driver is at fault and not insured, all of these expenses would need to come out of your pocket.
Uninsured and underinsured motorist coverage definitions
Uninsured Motorist Bodily Injury
This coverage may pay for damages when a covered person is injured and the person at fault for the accident does not have liability insurance.
Underinsured Motorist Bodily Injury
This coverage may pay for damages when a covered person is injured and the person at fault for the accident does not have enough liability insurance.
Uninsured/Underinsured Motorist Property Damage
This coverage may pay for damages when a covered vehicle is damaged and the person at fault for the accident does not have liability insurance or does not have enough liability insurance.
What should I know about uninsured and underinsured motorist coverage?
It’s divided into two different ways: Liability and property damage. You always want to match your uninsured motorist coverage with your standard liability limits. Having the same coverage for yourself, such as with uninsured motorist, as you do for others, you will be the most protected for any situation.
In addition to liability coverage, you should make sure your uninsured motorist property coverage is at least high enough to cover the cost of your vehicle. It is common to see uninsured motorist coverage lower than the cost of the vehicle because the cost of a car has increased significantly in the last few years.
As always, this is the benefit of working with a local, independent agent who can review your policies to make sure you are protected as your life changes.
Why don’t more people choose uninsured or underinsured motorist coverage?
It comes to education. Most people want to save money on their car insurance. We want you to save, too!
But, when you choose to go with the cheapest option, and an incident happens, it will not protect you the way you hoped. Insurance is designed to be there when you need it the most. In the end, you are paying for protection when the worst happens. If you have lowered your protection to save money, did you get what you were paying for?
Where do I get more information?
Abby Johnson, an agent that has been with Cross Insurance Agency for almost two decades, did a video series on this very topic. Click the links below to learn more about each of the topics listed above, plus some real-world context on how uninsured motorist coverage helps protect you from the unforeseen.
As always, here at Cross Insurance Agency, we are here to help you. Call, email, text, or book an appointment with one of our professional local agents and we can work together to find the best option for you. Being local and independent, we can find the best fit at the right price.