Are you one of the many drivers on the road who don’t have uninsured/underinsured motorist coverage for your car? If so, then you should know why it’s a crucial part of any auto insurance policy. Having UM coverage can protect you from financial hardship if you are in an accident with someone who doesn’t have enough, or no, liability insurance. In this article, we’ll explain why having UM is essential and how to make sure that it’s included in your policy.

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Definition Of Uninsured/Underinsured Motorist Insurance

Uninsured/Underinsured Motorist (UM) insurance provides coverage when a driver is involved in an accident with someone who either doesn’t have liability insurance or not enough to cover the costs of damages. It also covers medical expenses for you and your passengers if needed. In most states, UM insurance is optional but highly recommended.

It’s important to note that even if you don’t carry uninsured motorist bodily injury coverage, some states may require you to carry it anyway as part of your auto policy. If you’re in one of those states, this type of coverage helps protect you from being taken advantage of by drivers without proper insurance. Being caught driving without it can result in fines or other penalties. So it definitely pays to make sure that you have the right amount and type of UM coverage for your state’s requirements.

Advantages of UM Insurance

Having uninsured/underinsured motorist insurance can provide you with a necessary financial safeguard. It helps to protect you and your family in the event of an accident involving someone without adequate coverage or no coverage at all, which can help you get back on track financially after such an incident.

The primary advantage is that UM Insurance covers any medical expenses resulting from the accident, regardless of who’s responsible for it. This means if you’re injured by another driver without auto insurance or not enough insurance to cover your losses, UM Insurance will pick up the tab.

Additionally, this type of coverage typically offers protection against potential legal costs associated with pursuing compensation from uncooperative parties liable for damages due to their negligence. That way, even if the other party refuses to take responsibility for their actions, you’ll still be covered through your own policy. As a result, having UM Insurance provides peace of mind when driving, knowing that should anything unexpected happen, you have some form of financial protection.

Disadvantages of Not Having UM Insurance

Not having uninsured/underinsured motorist (UM) insurance can be a financial risk. If you are in an accident caused by an at-fault driver who does not have enough liability coverage, your medical and property damage expenses may not be fully covered. This means that you could end up paying out of pocket for costs associated with the crash. Additionally, if someone is injured in an accident caused by the uninsured or underinsured driver, they might sue you to cover their losses. Without UM coverage, this could put your assets at risk.

It’s important to note that laws vary from state to state regarding what kind of UM coverage is required, if any. However, it’s recommended that all drivers carry some form of UM protection regardless of where they live.

How to Obtain UM Coverage

When purchasing insurance, it’s important to ask your agent or broker about uninsured/underinsured motorist (UM) coverage. It is typically a separate rider that you can purchase in addition to the standard liability policy. UM coverage will protect you and any passengers if you are injured by an at-fault driver who doesn’t have sufficient insurance to cover all of your medical expenses and property damage.

The cost of this additional protection depends on the type of vehicle you drive, as well as other factors such as age, driving record, location, etc. However, even with these variables taken into account, UM coverage usually does not increase your premium dramatically; in fact, its cost may be offset by savings from discounts for having multiple policies under one insurer. Regardless of price considerations, having adequate UM coverage is essential for protecting yourself in case of an accident caused by another driver with insufficient insurance.

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In conclusion, it’s important to understand why having uninsured/underinsured motorist (UM) insurance is so crucial. Not only does UM coverage provide you with additional protection in the event of an accident involving a driver without insurance or one lacking adequate coverage, but it can also give you peace of mind knowing that your own car and medical bills are taken care of should such a situation arise.

If you need help finding a personal injury lawyer or filing a claim, contact the team at Call us today to schedule your free case review.

Emily Wilson is a writer who graduated with a bachelor’s degree in English studies from Ball State University in 2021. Since graduating, Emily has started her career in content writing, and she hopes to continue helping her audience learn and grow from her works.