3 Reasons To Have Uninsured And Underinsured Motorist Coverage
When you purchase auto insurance, you probably want to make sure you are fully protected. If so, you should make sure you purchase uninsured and underinsured motorist coverage on your policy. These types of protection are designed to cover expenses you could encounter if a driver without insurance, or without enough insurance, causes an accident that leaves you with injuries or damages. Here are three reasons you should make sure you purchase these coverages with your policy.
A lot of people drive without insurance
Uninsured and underinsured motorist coverages are insurance types that protect you when other people do not have insurance or enough insurance, and it is important to carry these types of coverages because there are a lot of people who drive without insurance. According to statistics, in 2014 approximately 13% of drivers did not have insurance or enough insurance. This means that nearly 1 in 8 drivers were on the roads driving vehicles without having enough insurance or without having any auto insurance at all.
The at-fault driver's policy covers damages
When you are in an accident with a person that has no insurance, it is very hard to receive compensation for your damages, as the at-fault driver's insurance is the company responsible to pay the damages. If the at-fault driver has no insurance, you would have to go after the driver for compensation. Chances are, though, that a person driving without insurance is driving without it because he or she cannot afford it. If this is the case, you would have a terribly difficult time receiving any money from this person for the damages he or she caused.
In a case like this, though, you could receive compensation for your damages through your own insurance company if you have uninsured and underinsured motorist coverage on your policy.
It is affordable to purchase
Not only does this coverage protect you if you are in an accident with a driver that has no insurance, but it is also very affordable to purchase. While the amount you will pay is based on a lot of different factors, it typically is very cheap for most people. For example, an average 34-year-old male pays between $33 and $76 dollars for this coverage for an entire year.
If you want to make sure you are fully protected and covered with your car insurance, make sure you have these coverages on your policy, and talk to an agent to find out what other types of coverages you should add to your policy.
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