Posts Tagged ‘uninsured motorist coverage’

Auto Insurance Tips: What To Do About An Uninsured Motorist

Friday, April 20th, 2012

You may be the type of person who plans for everything. Perhaps you drive an expensive car and you have top-of-the-line auto insurance. If you ever caused an accident, you are certain that everything would be perfectly covered. However, what if you are slammed by an underinsured or uninsured motorist? Some people choose to purchase additional uninsured or underinsured motorist coverage to cover the difference in medical costs and property damage repair that is not caused by the other driver’s liability insurance policy.

For Example…

Say you get into an accident that totals your $25,000 vehicle. However, the underinsured motorist only carries $10,000 in property damage liability insurance. If you had uninsured or underinsured motorist coverage, then it would cover the remaining $15,000. Even though each state has a mandatory minimum coverage stipulated, it is often not enough to pay for all the damages, which is why many motorists opt for excess coverage to be on the safe side. Drivers who live in states with the lowest liability requirements — including California, New Jersey, Pennsylvania, Florida, Massachusetts and Ohio — will especially want to make sure they carry auto insurance for underinsured motorists.

Filing Underinsured Motorist Claims

The first thing you should do in an auto accident with an uninsured or underinsured motorist is get the person’s name, address and driver’s license information. Next, you should file a police report to have both sides of the story put on record. Lastly, you should hire an auto insurance attorney to make sure the other motorist is determined to be at-fault if that was the case.

Compare Auto Insurance Quotes.

Our auto insurance quote system will help you compare the cost of uninsured or underinsured motorist coverage in your state. Shopping around is the best way to ensure you are getting the best insurance for the least amount of money in this buyer’s market.

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Posted in Auto Insurance Rates, General Auto Insurance |

What is Uninsured and Underinsured Motorist Auto Insurance Coverage

Wednesday, December 14th, 2011

Uninsured (UM) and underinsured motorist (UIM) auto insurance coverage is not required in all states, and it’s a good idea to add this protection to a policy anyway. It provides insurance protection if an accident occurs and the at-fault driver either doesn’t have any auto insurance coverage or doesn’t have enough insurance to pay for the damages he or she caused.

Even though most parts of the United States have passed laws requiring drivers to carry at least a minimum level of auto insurance coverage, not everyone on the road complies with the law. When people are looking to make ends meet, they may let their auto insurance coverage lapse and continue driving anyway. In some states, the Insurance Research Council estimates that up to one-quarter of people on the road do not have insurance coverage in place.

UM and UIM Basics

Uninsured and underinsured motorist auto insurance coverage protects the policyholder and passengers traveling in his or her vehicle. It pays for injuries and in some states will also cover repairs to the policyholder’s vehicle.

Uninsured motorist coverage is used when the driver who is legally at fault for the accident doesn’t have insurance coverage in place or when his or her auto insurance company denies the claim. If the at-fault driver’s insurance provider is unable to pay the claim, uninsured motorist coverage be used to cover it.

Uninsured motorist coverage also comes into play when a hit and run accident has occurred. If the driver cannot be identified, claims for bodily injuries are made under this part of the policy.

Underinsured motorist coverage pays out when the at-fault driver has coverage in place but he or she doesn’t have enough insurance to fully cover the damages he or she caused. The at-fault driver’s policy is used first and once his or her policy limit has been reached, the underinsured motorist policy is used to pay the balance of the damages. This coverage can be used up to the policy limit the customer has decided to buy.

How to Get Uninsured and Underinsured Motorist Insurance Coverage

In states where UM and UIM is required by law, insurance companies must provide quotes for policies providing at least this level of protection. A consumer can choose to buy a policy which has a higher policy limit if he or she wishes to do so. It’s a good idea to keep the policy limits for uninsured and underinsured motorist coverage the same as the bodily injury and property damage portion of the policy.

If uninsured and underinsured motorist protection is not required by law, a driver can have it added to his or her policy. Getting quotes from different providers before making a decision to buy coverage is a good strategy, since this protection will add to the cost of coverage.

Going online to get quotes from different auto insurance companies for the cost of uninsured and underinsured motorist coverage is an effective strategy. Consumers can shop for coverage at a time which is convenient for them.

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Posted in General Auto Insurance |

Minnesota Auto Insurance Required Coverage

Monday, December 27th, 2010

For Minnesota auto insurance customers, there are certain types of coverage that are required by the state. Since Minnesota is a no-fault state for car insurance purposes, drivers buy Personal Injury Protection coverage. This part of the policy pays a benefit for medical bills and lost wages.

It also pays out for replacement services. If you are unable to perform certain duties, such as looking after your home or minor children following an accident, you would receive funds to hire someone else to do them for you.

Liability coverage pays for the damage you cause to another driver’s vehicle following an accident. It also gives you an extra level of protection if the damages you cause are severe.

Uninsured motorist coverage pays out when the at-fault driver in an accident does not have insurance or cannot be identified. It tops up your Personal Injury Protection coverage if you are severely injured and pays out a benefit that the at-fault driver would otherwise be responsible for paying.

Underinsured motorist coverage pays for medical claims for people covered under your car insurance policy when the at-fault driver has some coverage available but his or her policy limit is not high enough to pay for these expenses.

Before you decide to buy Minnesota auto insurance coverage, take some time to compare rates from different providers. You will find that pricing can vary significantly, and by shopping around you can avoid paying more than you have to.

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Posted in Minnesota, USA |

Uninsured/Underinsured Missouri Auto Insurance Coverage

Tuesday, December 7th, 2010

Under Missouri state law, drivers are required to have uninsured and underinsured motorist coverage in place to drive legally. This insurance protection protects the driver him or herself from damages caused in certain circumstances. Missouri is a tort state, which means that people who have been injured in a car accident have the right to sue the driver who is determined to be responsible for the accident to recover damages.

Uninsured motorist coverage pays out when the at-fault driver in an accident doesn’t have insurance. It takes the place of the third party liability coverage that the other driver should have had in place. You would make a claim to your own auto insurance company for your medical bills and lost wages incurred as a result of the accident. The other occupants of your car car are also covered under this type of coverage.

Underinsured motorist coverage works a little differently. The at-fault driver’s coverage is used first, and any amount owing above his or her policy limit is paid for by the underinsured motorist coverage, up to the policy limit you choose.

When you are trying to decide how much coverage to buy, consider your options carefully. Make a point of shopping around for the best rates for your coverage, and do ask for pricing for different levels of coverage so that you can get the best level of protection you can afford.

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Posted in Missouri, USA |

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