Do I need underinsured/uninsured coverage?
Uninsured motorist coverage (UMC) is a type of car insurance that pays for your medical expenses and lost wages if you're injured in an accident by an uninsured driver. It can also pay for property damage to your car if you're hit by an uninsured driver.
Is uninsured motorist insurance required?
UMC is not required in all states, but it's a good idea to have it, especially if you live in an area with a high number of uninsured drivers. And in the U.S., about 13% of drivers are uninsured.
How much does uninsured motorist coverage cost?
When you buy UMC, you'll need to choose a coverage limit. This is the maximum amount of money that your insurance company will pay for your losses. The standard coverage limit is $15,000 per person and $30,000 per accident, but you can choose a higher limit if you want.
How can uninsured motorist insurance help me?
Here are some of the benefits of uninsured motorist coverage:
It can help pay for your medical expenses, lost wages, and pain and suffering if you're injured in an accident by an uninsured driver.
It can help pay for property damage to your car if you're hit by an uninsured driver.
It can help protect your assets if you're sued by the other driver.
It can give you peace of mind knowing that you're financially protected in the event of an accident.
What are some tips for buying uninsured coverage?
If you're considering buying uninsured motorist coverage, here are a few things to keep in mind:
The coverage is not required in all states.
The cost of the coverage will vary depending on your insurance company and the coverage limits you choose.
You may need to pay a deductible for each claim.
The coverage may not apply to all accidents, such as hit-and-runs.
It's important to talk to your insurance agent to get more information about uninsured motorist coverage and to decide if it's right for you.