Uninsured / Underinsured Coverage – Beware!
When youre out driving on the busy roads and streets of your town, you may want to give your fellow drivers the benefit of the doubt and assume that they are as properly and effectively insured as you are. After all, its the right thing to do, right? But the truth is, there are many uninsured or underinsured motorists out there, and if you were to get into an accident with one you could end up getting into major financial trouble for years to come. Experts agree that the number of uninsured motorists might be as high as 25% in some states.
If you were to get into a minor fender bender with an uninsured motorist, and he or she was at fault, you wouldnt have their insurance agency or yours to back you up. You would have to hope that the uninsured driver will pay for the damages, which is pretty unlikely if you think about it. After all, if they dont have auto insurance, is it likely that theyre going to have large sums of cash available to pay for your damages? No, its not. By getting uninsured motorist coverage, you will be taken care of by your insurance agency (after you pay your deductible, of course). Uninsured motorist coverage is only mandatory in a few states, but its good common sense in all of them.
Some drivers are underinsured. They have the bare-bones auto insurance that their state requires, but its not good enough to cover all the damage to your car. Lets say they have coverage that will pay up to $1,000 in case they are responsible for an auto accident, but your bill amounts to $2,500. You will have to recoup that remaining $1,500 from the other motorist and again, if they cant afford sufficient auto coverage, they are probably not going to be able to afford to pay you for the damage to your car. So no matter how you slice it, getting uninsured/underinsured motorist coverage makes a lot of sense.
Before you commit to a car insurance policy, be sure to sit down and speak with a qualified car insurance expert and get answers to any and all questions you might have.