Understanding Uninsured Drivers Insurance Coverage

Understanding Uninsured Drivers Insurance CoverageWhen it comes to auto insurance, we want to believe that everyone is responsible and has the required coverage in case they are involved in an accident. Sadly though, many drivers either don’t have insurance or don’t have enough insurance to cover property loss or injuries, especially in times of hardship. While you may have the best Illinois Car Insurance that you can buy, you want to ensure that you are protected from those that don’t have coverage.

Studies show that up to 25% of drivers do not carry adequate insurance coverage. While not required in most states many insurance companies recommend having Uninsured Motorist (UM) or Underinsured Motorist (UIM) coverage. An accident comes with many costs that add up and you want to be sure that you are able to financially recover from the losses.

UM or UIM coverage helps to pay for property loss, injuries and even sometimes lost wages and pain and suffering in the event that the other driver involved in an accident does not have appropriate coverage. UM/UIM covers you and any passengers in your vehicle as well as all those listed on your policy if they happen to be in another car involved in an accident.

Underinsured driver protection helps to cover costs when the other driver’s limits don’t cover the cost of repairs and medical. This means that their insurance will pay the limit they are entitled to pay and your UIM coverage pays the rest up to your UIM limit, not that it pays your limit on top of what their insurance has paid.

Uninsured motorist property damage protection (UMPD) is similar to collision coverage it just covers against the uninsured driver. It does not cover ‘hit-and-run’ claims due to insurance companies not wanting false claims. This is due to the fact that the deductible for UMPD is generally lower than the deductible for collision claims.

Uninsured motorist bodily injury protection (UMBI) is a different form of protection against an uninsured driver. This covers things like being hit by a driver as you or another person on your policy are walking through a parking lot. This pays medical bills as well as lost wages. Most basic medical coverage plans don’t pay lost wages, which makes having an UMBI plan, an added bonus.

At Myers Insurance Group we know how stressful it can be when you find out that the other driver has no coverage. Call us today to find out how we can help you get back on the road. 855.534.5707

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