Uninsured/ underinsured motorist insurance provides coverage to meet the expenses arising from an accident involving uninsured or underinsured drivers. It also protects the pedestrians who get hit by hit and run drivers. This coverage is not required in most states though it is relatively cheaper and its benefit is substantial for a few dollars per month. Drivers may refuse to or unable to carry auto insurance thereby putting themselves and other road users in danger and financial risk. If someone else gets injured by this driver, their own insurance will cover the expenses for their injuries and damages. If the driver is underinsured, the underinsured driver’s insurance cover may be inadequate for the loss suffered by them.
Most motorists do not think it necessary to purchase uninsured/underinsured motorist insurance cover until they get involved in a hit and run accident where you cannot identify the driver or a similar situation. The truth is that the number of motorists driving without auto insurance is on the rise. So it is a wise thing to do a rethinking on your auto insurance needs and ensure that you are adequately protected.
It is recommended that you opt to include uninsured motorist coverage in your auto insurance policy. By doing this you can ensure that the insurance company will compensate you on behalf of the uninsured motorist. Many states require that drivers carry uninsured motorist coverage.
It is important to consult a lawyer who is experienced in dealing with such cases, before giving any written statements, when you get involved in an accident and the other driver is uninsured. This is necessary because there may be problems when the insurance company’s interests and your interests do not match. Your insurance company may dispute the extent of damage and injuries you suffered and their relation to the accident. The lawyer knows how to preserve your right to future compensation.
In the case of underinsured driver, though he has purchased auto insurance it is not enough to cover your damages. But when you have underinsured motorist coverage, your insurance company will compensate for your damages over and above the underinsured driver’s coverage. You will need to collect as much compensation as possible from the other driver’s insurance company in the first place.
If you want to claim compensation under your uninsured or underinsured motorist coverage, as a victim you will need to prove that the other motorist was at fault and the damages are significant.
Medical costs and repairs costs are expensive and keep increasing every year. Accident victims may incur thousands of dollars through these expenses. So if you are hit by a driver who ahs only has minimum liability coverage, it will not cover all the costs of your injuries and damages. In California for example, the minimum liability insurance carried by most drivers as per the law is $15,000 per person and $30,000 per accident and $5000 for property damage. Only individuals with large assets purchase appropriate insurance coverage to protect their assets. So it is in your own interest that you should purchase uninsured and underinsured motorist coverage to fully cover your losses on injuries and vehicle damages.