According to the Insurance Research Council, approximately 12% of all drivers are uninsured. Approximately 4% of drivers do not maintain adequate levels of insurance to cover damages caused by the collision, including medical bills, lost wages, pain and suffering, etc. Many states require drivers to purchase a minimum amount of bodily injury liability insurance. A typical state may require an at-fault driver to maintain a minimum of $25,000/$50,000 in bodily injury coverage. This means coverage could be capped at $25,000 for an individual or $50,000 for everyone involved in the collision. If you were one of four people injured in a collision, $50,000 may be divided between four people and may not provide much coverage for anyone. With the rising cost of medical bills, it is wise to purchase uninsured/underinsured coverage if your state allows. This type of coverage pays for medical bills, lost wages, pain and suffering, etc. for you and your passengers if you are involved in an automobile collision caused by a driver who does not have any insurance or not enough insurance. A typical uninsured/underinsured policy could be for $250,000/$500,000. A policy like this would provide individual coverage up to $250,000 or $500,000 for everyone in your vehicle. Some people decline purchasing such coverage because they believe they have good health insurance, but the deductible may be high which would require a large out-of-pocket expense. In addition, health insurance typically does not cover lost wages and pain and suffering. If you are concerned about the number of uninsured and underinsured at-fault motorists on the road today, you should consider purchasing insurance to cover you and your passengers. Your state may also allow you to purchase an umbrella policy to increase the amount of coverage for you and your passengers beyond the limits offered by your automobile insurance company.
Author: Robert M. Everett
According to the Insurance Research Council, approximately 12% of all drivers are uninsured. Approximately 4% of drivers do not maintain adequate levels of insurance to cover damages caused by the collision, including medical bills, lost wages, pain and suffering, etc. Many states require drivers to purchase a minimum amount of bodily injury liability insurance. A typical state may require an at-fault driver to maintain a minimum of $25,000/$50,000 in bodily injury coverage. This means coverage could be capped at $25,000 for an individual or $50,000 for everyone involved in the collision. If you were one of four people injured in a collision, $50,000 may be divided between four people and may not provide much coverage for anyone. With the rising cost of medical bills, it is wise to purchase uninsured/underinsured coverage if your state allows. This type of coverage pays for medical bills, lost wages, pain and suffering, etc. for you and your passengers if you are involved in an automobile collision caused by a driver who does not have any insurance or not enough insurance. A typical uninsured/underinsured policy could be for $250,000/$500,000. A policy like this would provide individual coverage up to $250,000 or $500,000 for everyone in your vehicle. Some people decline purchasing such coverage because they believe they have good health insurance, but the deductible may be high which would require a large out-of-pocket expense. In addition, health insurance typically does not cover lost wages and pain and suffering. If you are concerned about the number of uninsured and underinsured at-fault motorists on the road today, you should consider purchasing insurance to cover you and your passengers. Your state may also allow you to purchase an umbrella policy to increase the amount of coverage for you and your passengers beyond the limits offered by your automobile insurance company.