Do Drivers Really Need Uninsured Motorist Coverage?

There are many different coverage options available to you when you take out car insurance. Some of the auto insurances offered are mandatory, such as B. Liability insurance in most states. However, depending on the state, other types of protection, such as uninsured motorist insurance, may not be required.

For motorists who do not live in a state that requires uninsured motorist insurance by law, deciding whether to pay premiums for this type of protection can be a complicated decision. The reality, however, is that most motorists should have uninsured auto insurance for one simple reason: It could save them from serious financial loss.

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One in eight drives without insurance

If you are involved in a car accident, the culpable driver’s insurance company usually has to pay for damage caused by an accident. If your car is damaged in the accident, the culpable driver should usually be held liable for the repair or replacement. And if you injure yourself, the culprit should pay your medical bills and lost wages (in most states), and possibly even be asked to compensate you for any pain and suffering you endure.

Unfortunately, the driver who injured you may not have insurance coverage. In fact, the odds of that happening are not insignificant, although most US states require motorists to have liability insurance.

In fact, research by the Insurance Information Institute in 2019 found that around 12.6% of motorists had no insurance coverage. That’s about 1 in 8 drivers.

Unfortunately, these uninsured drivers are often more likely to be involved in collisions. That’s because drivers who tend to be irresponsible in getting the necessary insurance may also be irresponsible in their other driving habits.

If you are involved in an accident with an uninsured driver, you could find it difficult to obtain compensation.

It is possible that injured motorists or persons who have suffered property damage can assert a legal claim against the culpable driver, even if this driver is not insured. The problem is that the uninsured driver may not have the money to pay for losses even if he or she is held liable for them under the law.

All of this means that an injured accident victim who is involved in a collision with an uninsured driver may not be eligible for compensation for financial loss. Uninsured motorist insurance can help in such situations. It can ensure that an accident victim suffers uncompensated damage that has to be paid for out of pocket just because the victim is unlucky enough to run into someone who had no insurance coverage.

The reality is that uninsured motorist protection is often a very affordable addition to an insurance policy. And the protection it offers could be invaluable as there is the very real risk of being involved in an accident with a driver who doesn’t have insurance – or the money to compensate without it.

source https://collegeeducationnewsllc.com/do-drivers-really-need-uninsured-motorist-coverage/