Why Every Driver Needs Uninsured Motorist Coverage

A recent study shows that about 13 percent of motorists are uninsured.  This means that 1 out of 8 drivers is uninsured!

The thought of being surrounded by so many uninsured drivers on the road is quite scary.  It gets worse when you actually get into an accident with one such motorist.

To save yourself the trouble, here are the top reasons why you should get an uninsured motorist coverage.

1. It’s Inexpensive

Insurance costs tend to be high, making it difficult to keep up with the monthly payments.  As such, you may have the notion that adding uninsured motorist (UM) coverage on your current policy may overstretch your budget.  On the contrary, that’s not always the case.

For just a few dollars a month, depending on the amount you want to pay, you can add a UM cover to protect you against under-insured motorists.

2. It Covers You Even When You’re Not Driving

One of the best features of an uninsured motorist cover is the fact that it follows the uninsured driver.

This means that even when you’re a passenger in a car whose driver isn’t insured, or involved in an accident by a negligent driver as a pedestrian, you can still make a claim for the injuries incurred.

3. You Automatically Qualify for UM Coverage

In most states, insurance companies are required by law to offer the uninsured motorist cover at the time of selling auto insurance.
Your driving record also won’t affect your ability to obtain this cover.

On the same note, UM cover is optional.  So, you may opt out in writing when buying an auto policy if you can’t afford it at the time — and add it later when you’re financially comfortable.  But this is not recommended.  It is well worth the peace of mind it provides.

4. Minimum Liability Coverage Is Low

If you already have a liability cover, as mandated by the law, chances are it may not be enough.

Many drivers don’t see the need for adequately protecting themselves from accidents and hence opt for the minimum liability coverage, just to fulfill the legal requirements.  As a general rule of thumb, you want to have liability coverage that at a minimum is equal or higher to all your assets combined.

Suppose this driver gets into an accident and the medical expenses exceed the coverage.  They could be required to dig from their own wallets to cover the  personal injuries caused by the accident.

Adding UM cover into your policy ensures you have enough coverage in the event of a nasty accident that leads to skyrocketing medical costs.  Also, the beauty of UM coverage is it doubles as UIM (underinsured motorist) coverage as well.  This means if you are involved in an accident with an at fault driver who has minimal coverage limits, you can make a claim against that driver’s policy, and if your damages exceed the limits of that driver and can make a UIM claim with your own carrier if your UIM limits exceed that of the other driver’s limits.  Additionally, making this type of claim is considered a No Fault Claim and should not affect your rates.