Uninsured and Underinsured coverage may or not be in your auto policy for a number of reasons. Some states require both some require uninsured but not underinsured and some don't require either coverage. Even in States that require both, you may not have enough to truly cover your situation. It is very common in my practice as an attorney to deal with people who have a serious injury as a result of the other drivers fault. Unfortunately, it's just as common to find that the other driver has no insurance or not enough to cover the damage caused to the injured person's life.
Uninsured and underinsured motorist are very useful coverages to protect yourself and your family. Uninsured coverage, also called UM, provides protection when the person injuring the policyholder/claimant does not have any insurance, or less than your States required limits for liability insurance. Underinsured coverage, also called UIM, provides protection when the other driver is insured but his limits are not adequate to cover your damages.
From a risk prospective it makes sense that you have both coverages even if your state does not require the coverage. Despite mandatory insurance laws as many as 1 in 7 drivers are uninsured. If you are injured bad enough most private motorist are going to be underinsured for your injuries as the most common liability insurance limit on passenger vehicles is $25,000.00. This is hardly enough to compensate for the medical bills, and lost pay even a moderate injury would cause. To protect yourself and your family you should consider buying limits that are more than $25,000.00. The good news is that this insurance is not generally very expensive compared to liability insurance. If you are not sure what limits to get, consider this, I have never had a single seriously injured client who regretted buying UM and UIM protection. I have had many who regretted not getting enough. I consider $100,000.00 the minimum safe limit to purchase. If you don't know if you have it check your declarations page, or contact your agent or insurance company.
Many people think they have "full coverage" which from my experience means nothing. Some agents tell clients they have full coverage when they purchase the state required insurance, and others mean that you have added optional coverages. The only way to make sure you have enough UM and UIM is to verify it by reviewing your policy or asking your insurance company or agent specifically about the coverage.
Uninsured and underinsured motorist are very useful coverages to protect yourself and your family. Uninsured coverage, also called UM, provides protection when the person injuring the policyholder/claimant does not have any insurance, or less than your States required limits for liability insurance. Underinsured coverage, also called UIM, provides protection when the other driver is insured but his limits are not adequate to cover your damages.
From a risk prospective it makes sense that you have both coverages even if your state does not require the coverage. Despite mandatory insurance laws as many as 1 in 7 drivers are uninsured. If you are injured bad enough most private motorist are going to be underinsured for your injuries as the most common liability insurance limit on passenger vehicles is $25,000.00. This is hardly enough to compensate for the medical bills, and lost pay even a moderate injury would cause. To protect yourself and your family you should consider buying limits that are more than $25,000.00. The good news is that this insurance is not generally very expensive compared to liability insurance. If you are not sure what limits to get, consider this, I have never had a single seriously injured client who regretted buying UM and UIM protection. I have had many who regretted not getting enough. I consider $100,000.00 the minimum safe limit to purchase. If you don't know if you have it check your declarations page, or contact your agent or insurance company.
Many people think they have "full coverage" which from my experience means nothing. Some agents tell clients they have full coverage when they purchase the state required insurance, and others mean that you have added optional coverages. The only way to make sure you have enough UM and UIM is to verify it by reviewing your policy or asking your insurance company or agent specifically about the coverage.
