Uninsured & Underinsured Motorist Coverage

Uninsured and underinsured motorist coverage are two crucial components of auto insurance that many drivers often overlook. While auto insurance is legally mandated in most states, not all drivers adhere to this requirement. Additionally, some drivers carry minimal insurance coverage, which may not be sufficient to cover the damages in the event of an accident. This is where uninsured and underinsured motorist coverage steps in to provide protection. Moore Farms & Insurance is here to help you navigate this tricky subject!

Uninsured motorist coverage, as the name suggests, protects you if you’re involved in an accident with a driver who doesn’t have insurance. According to the Insurance Information Institute, around 13% of drivers in the United States are uninsured. If you’re hit by one of these drivers, uninsured motorist coverage can help cover your medical expenses, lost wages, and other damages.
On the other hand, underinsured motorist coverage comes into play when the at-fault driver’s insurance limits are insufficient to cover your expenses. For instance, if you’re involved in a serious accident and the other driver’s insurance policy only covers a fraction of your medical bills and vehicle repairs, underinsured motorist coverage can make up the difference.
Both uninsured and underinsured motorist coverage are typically offered as optional additions to your auto insurance policy. While they may increase your premium slightly, the peace of mind they provide in the event of an accident far outweighs the additional cost. Without these coverages, you could be left footing the bill for expenses that could potentially bankrupt you.
It’s important to note that uninsured and underinsured motorist coverage vary by state, so it’s essential to familiarize yourself with the specific requirements and options available in your area. Some states may require insurance companies to offer these coverages, while others may leave it up to the policyholder to opt-in.
When considering uninsured and underinsured motorist coverage, it’s essential to assess your individual risk factors. Factors such as the frequency of uninsured drivers in your area, your driving habits, and the value of your assets should all be taken into account. While no one likes to think about being involved in an accident, being prepared for the unexpected can save you from financial ruin down the line.
In addition to providing financial protection, uninsured and underinsured motorist coverage can also expedite the claims process. Rather than waiting for the at-fault driver’s insurance company to investigate and settle the claim, you can file a claim directly with your own insurance provider. This can save you time and hassle, allowing you to focus on recovering from the accident.
In conclusion, uninsured and underinsured motorist coverage are essential components of auto insurance that provide financial protection and peace of mind in the event of an accident with an uninsured or underinsured driver. While they may add to your premium, the benefits far outweigh the costs, making them a valuable investment for any driver. Be sure to discuss your options with your insurance provider to ensure you have the coverage you need to protect yourself and your assets on the road.
Contact us today to make sure your policy has adequate coverage!