Approximately 14 percent of all drivers are uninsured. Many states require drivers to have insurance that will cover the costs of an accident with an uninsured driver. There are also laws about how much insurance you must carry in the event that you are in an accident with an underinsured motorist. However, the limits on these policies are usually very low, meaning you could end up paying a portion of your bills associated with the accident even if you are not at fault. Unfortunately, most people do not realize this until they have been in an accident and are hit with the harsh reality.
How Much Is Covered By Uninsured and Underinsured Motorist Insurance?
This type of insurance covers property damage and personal injury if you are in an accident with an uninsured or underinsured driver. Many states have a minimum of $5,000 for property damage and $50,000 for medical expenses due to injury in both uninsured and underinsured motorist insurance. Basic insurance plans cover only these minimum amounts. Check with your agent about Auto Insurance in Springfield to find out what the minimum limits are in your area.
If you are in a serious auto accident with an uninsured or underinsured motorist, your medical expenses will likely be more than $50,000 and your property damage will probably exceed the minimum limits as well. By increasing your coverage, you increase those limits and the payout amount if you are in this type of accident. It will give you greater peace of mind.
Don’t chance carrying minimal insurance coverage; increasing your limits on uninsured and underinsured motorist coverage is a small increase to your premium but a big increase to your pocketbook if you are in an accident. Contact an agent about Auto Insurance in Springfield to learn more.