Uninsured motorist or underinsured motorist coverage on your auto policy can be a big money saver. If you are ever in an accident caused by an uninsured motorist the other driver is liable for your damage repair and any medical bills. But what if they are without liability insurance?
Extending Your Coverage Makes Dollars and Sense
If you have uninsured motorist coverage then you can be sure that your insurance company will pay for the damages caused by the other driver. In fact your insurance company will also become responsible for collecting from the other party. But if you chose not to include uninsured motorist coverage, you will be left with the bill, as well as the stress and expense of collecting from the other driver.
Uninsured motorist coverage is also important for hit-and-run accidents. If you are the victim of a hit-and-run then your uninsured motorist coverage will pay for the damage repair. If you are in the vehicle at the time of a hit-and-run always try to get the license plate number of the other vehicle. It will be important when it comes to filing police report, and for making a claim. Unless you can get the ID of the other driver you will probably have to pay a higher deductible amount.
A Low Cost Option to Enhanced Protection
Making this decision even easier for the policy holder is the fact that uninsured motorist coverage is rather inexpensive. When opting for this added coverage, you should plan to match uninsured motorist limits with any bodily injury coverage you have.
You may also want to purchase uninsured motorist if you do not have collision insurance. Those with older cars may not want the expense of collision, but a small expense of an uninsured motorist clause will come in handy in case of an accident where someone else is at fault.
Be sure to check your current auto insurance policy for uninsured motorist or underinsured motorist coverage. If you find it is not on the policy, consider adding it for the peace of mind it will give you. You never know who else is on the road, nor what coverage they may possess.
