paid if he or she actually had insurance. It also covers you in the case of a hit-and-run or if the other driver’s insurance covers only part of what you need. UM covers any physical injuries to you and your passengers, including medical costs, pain and suffering, and even lost wages. While some companies offer a single limit, others have split limits, with one for bodily injury or death per person and one for the total amount per accident. Some states have aminimumamount of UMcoverage required. As with other coverage, thisminimum may not be enough for some situations. We can talk about your specific needs and decide on the amount that’s right for you. But auto insurance is required in most places, so you shouldn’t have to worry about this, right? Unfortunately, not everyone is as responsible as you. According to the Insurance Research Council (IRC), about 14% of drivers in the United States don’t have insurance, despite the legal obligation. Uninsured motorist property damage (UMPD) is a related insurance that covers your car and property if the other driver lacks insurance or doesn’t have enough coverage. What does UMPD cover? Your home and property and your personal items, such as any electronics that get damaged in an accident. Like UM, this is not usually required by the state, and only some states or companies may offer it. One thing to know with UMPD is that when you file a claim, you’re considered a third party. This means your insurance acts as if it’s paying from the other driver’s liability coverage. Under-insured motorist (UIM) coverage is important to consider because so many drivers who do have insurance stick
13
Powered by FlippingBook