Three Reasons You Should Always Have Uninsured Motorist As A Part Of Your Auto Insurance Policy
If you have been in an accident that wasn't your fault, you may be on the hook for a large bill if the other driver does not have insurance. Even with laws mandating minimum coverage for vehicles, there are many people driving without insurance for a variety of reasons. Your only protection is to have uninsured motorist coverage on your auto policy. The following are a few reasons for this.
Because your collision and comprehensive coverage won't suffice
You can read your policy if you want, but what you'll likely find is that this coverage is insufficient. Although it is true that the collision portion of your coverage will pay the cost of repairing your car, it will not pay anything for your medical issues, and this has the potential to be the highest cost of a traffic accident. Of course, comprehensive doesn't enter the discussion because this covers damage to your vehicle other than traffic accidents.
It's difficult to sue the car driver
If the driver and the owner of the car are the same, it is possible to sue the driver for compensation. The big issue here is identifying assets that an attorney can go after to pay for your car, medical bills, and other losses that you have suffered. Unfortunately, it is rare for an uninsured driver to have significant assets. The two conditions are seldom compatible. A wealthy person, who doesn't have accident coverage, is not something you want to bet on.
It's difficult to sue the car owner
If the car is insured, but the driver is uninsured, you may think there is still half a chance at compensation. Although most policies follow the car and not the driver, there are often exceptions. If the driver lives with the car owner, the driver must be listed on the policy. If the driver is not listed, on the policy, an attorney can go after the car owner's assets, especially if it was a relative living with the car owner. But the owner of the car may claim the vehicle was driven without his or her permission. This claim may also be made to prevent a claim against the car owner's policy, even when the driver does not live at the same address.
The importance of uninsured motorist coverage is often overlooked. It is important enough that you should check your current policy to make sure you have this coverage. Even if you have the legal minimum insurance for your state, you may not have uninsured motorist because most states do not require it. If you are in an accident that is not your fault, but the other driver is not insured, you are likely to bear the entire financial repercussions of the accident.
For more information on auto insurance policies, contact a professional near you.