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The Importance of Uninsured Motorist Coverage


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We discuss the importance of uninsured and underinsured motorist coverage, and how it can help you after a car accident.

Published in: Law
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The Importance of Uninsured Motorist Coverage

  1. 1. IMPORTANCE OF UM COVERAGE HowUM coverage protects you after an auto accident Goldstein & Hayes
  2. 2. DoYou Really Have “Full Coverage?” ■ “Full coverage” is not an actual type of automobile coverage and is subject to much interpretation. ■ That inexpensive premium that you purchased may not be protecting you against claims and, likewise, may not help you out if someone else causes a wreck that has either a minimum limits policy or no insurance coverage.
  3. 3. DoYou Really Have “Full Coverage?” So what happens if you are hit by a driver with no insurance? ■ Most people know that liability coverage protects you for accidents that are your fault. ■ What people often overlook when purchasing automobile insurance policies, is the coverage is only up to the limits you purchase.
  4. 4. How Underinsured/Uninsured Motorist Coverage Works ■ Often referred to as “UM” insurance coverage, UM coverage protects you when the at-fault driver either has no coverage at all (they are uninsured) or has insufficient coverage to compensate you for your damages (they are underinsured).
  5. 5. Example of UM Coverage Being Useful ■ You or a family member is involved in a horrible car accident and is faced with hundreds of thousands of dollars’ worth of medical bills ■ The at-fault driver only has the minimum liability limits in Georgia - $25,000.00. ■ Someone carrying minimum limits probably does not have significant assets or money in the bank to pay your claim. What’s the solution? UM coverage.
  6. 6. UM coverage would pay the additional damages up to the coverage. If your medical bills are $350,000 and you have $1M in UM coverage, you will have the ability to collect for your injuries up to the policy limits.
  7. 7. UM Coverage Offers Protection with Little Added Cost ■ The best news, not only does UM coverage protect you from those with little or no liability coverage, the additional premium for UM coverage is usually significantly less than what you maintain for the same liability coverage.
  8. 8. What’s the lesson? ■ Do not count on others to maintain adequate insurance coverage. ■ Protect yourself and load up on UM coverage.