In an new FAQ, the writers at OnlineAutoInsurance.com discuss the merits of purchasing this type of coverage, which is only required in a handful of states.
Online PR News – 02-August-2010 – – Car insurance comes in many forms, and a person looking for coverage needs to know the value of each type in order to weigh the costs and benefits of getting covered beyond the state-required minimums. Today OnlineAutoInsurance.com releases a new FAQ to educate consumers about coverage against uninsured and underinsured motorists.
One of the most crucial auto insurance coverage questions that a consumer can consider is whether it is worth it to get this type of coverage. Uninsured motorist coverage will provide that an insured driver will have financial protection for costs related to injuries sustained in an accident caused by a driver who does not have insurance. In theory, this should not pose too much of a threat to the average driver since practically every state requires its motorists to purchase liability coverage in order to drive legally. Yet a significant number of those getting behind the wheel do so without first purchasing coverage. For example, a person who gets into an accident with another driver in New Mexico, which was estimated by the Insurance Research Council (IRC) to have the highest uninsured rate in the nation, will have a nearly one-in-three chance that the other person will not have coverage. Considering the IRC’s estimate that one in six drivers would go without insurance in 2010, such coverage could prove to be a smart investment.
In addition to protecting against uninsured drivers, this type of coverage can protect against hit-and-run accidents as well as accidents with an underinsured driver. An underinsured driver is one whose coverage does not meet the minimum limits that have been set by individual states. Although this coverage typically only applies to damages related to bodily injury, there are uninsured motorists policies created specifically for property damage.
What may be surprising to consumers living in states that do not require this coverage is that it can be added on to a policy for a reasonable additional rate. To find out more about coverage against uninsured and underinsured drivers, readers can visit http://www.onlineautoinsurance.com/learn/ to access articles on this and a variety of other topics.