Vehicle insurance can be expensive, particularly for drivers who do not qualify for traditional auto insurance. When buying auto insurance, adding coverage for underinsured/uninsured drivers may not seem to be important, but the need for this coverage cannot be overstated. About one in eight drivers are uninsured, and millions of drivers who have current insurance only pay for the state-required minimum liability coverage which may not be enough.
Why You Need Uninsured/Underinsured Driver Insurance
If you are in an accident with an uninsured or underinsured driver, you could face serious financial challenges. You will be unable to file an insurance claim, and a driver without valid insurance is not likely to have assets you could pursue with a lawsuit. If the injuries are serious and the driver causing the accident has the minimal required coverage, it may not cover your losses.
When purchasing auto insurance, adding uninsured/underinsured motorist coverage will cost you a bit more, but could help you avoid a financial disaster. Whether you are required to purchase uninsured or underinsured driver insurance or must opt-in, with over 20 million uninsured drivers on the nation’s roadways, it makes good sense to add this coverage. If you have health insurance, you may believe that you don’t need this additional coverage. Please note that health insurance doesn’t pay for lost income from work and many other losses, such as pain and suffering.
How Does Uninsured/Underinsured Motorist Coverage Work?
Uninsured/underinsured motorist coverage can be a lifeline after an accident with a driver with no auto insurance. If you have a less-than-perfect driving history and have concerns about adding uninsured/underinsured driver coverage, consider what would happen if your vehicle were totaled, or you were injured in a collision with a driver who had no insurance or minimal insurance, and your injuries left you unable to work, or your car was totaled.
To find out more, speak with our local insurance agency. We have experience in finding the right auto insurance coverage for our clients. We understand the need for affordable auto insurance and will help you find coverage that suits your budget.