car insurance question?

Question

what are the advantages if any to having uninsured motorist coverage on my insurance policy. If the other person doesnt have insurance but i have comp and collision on my policy, with a 500 deductible why should i get this coverage?

this uninsured motorist premium applies to property damage only and not to bodily injury, i think the limit is 3500 to 5000 bucks.

Answer 1

UMPD covers your property damage if the other driver has no insurance. It's typically only added if your car does not have collision coverage. If you have collision an a vehicle, you could do without it.

Answer 2

You must be in of the few states that has Uninsured Motorist Property Damage (UMPD) coverage available.

With most companies the UMPD carries a smaller deductible than collision coverage does. So if you get hit by uninsured motorist you pay less money out-of-pocket. The UMPD coverage is normally cheap and is worthwhile if you are in a state that does not make having car insurance mandatory, or if their are a lot of uninsured drivers in your state.

Answer 3

Uninsured motorist coverage steps in to pay an injury liability claim for you when the at-fault driver isn't insured and you're injured in the accident. If the at-fault driver were insured, his company would owe you for the amount of your medical bills, lost wages and consideration for the fact that you had an injury ("pain and suffering"). If the driver isn't insured, your uninsured coverage steps in and takes care of those things for you--and then turns around and goes after the at-fault driver for reimbursement if at all possible. Your comp and collision coverage only takes care of your car. Believe me, you WANT uninsured motorist coverage!!

Answer 4

There are two coverages that you really should have. Uninsured Motorist (UM) and Underinsured Motorist (UIM). Most states require UM (uninsured) but not UIM (underinsured). I highly recommend both - especially if you live in a state that has low bi liability limits. One thing to keep in mind - UM/UIM can be very different from state to state- b/c it is shaped by the laws of that state. So here's a real general lesson that usually applies in most states. You should talk to your agent to get specific info on your state.

In the even an accident happens (that is not your fault but caused by another driver - even a hit and run) and the other vehicle does not have insurance -then you would file a UM claim against your policy. The UM coverage on your policy will pay for all the things that the other drivers insurance would have paid for (had they had insurance). For bi - this means medical bills, lost wages, pain and suffering. For pd - this means repairs to your vehicle, rental car, loss of value.

As the cost of insurance rises, drivers operating with out insurance is becoming more and more common.

If you are struck by an at fault driver - who has an insurance policy in place but has low limits or limits that are not sufficient to cover the extent of your injuries, then you would file a UIM (underinsured). In this case, your insurance company would step in to make up where the other companies policy fell short. This also applies to BI (bodily injury) and PD (property damage).

Why is UIM important? Some states have very low bi liability limits (the amount of coverage used to pay for other peoples injuries/damage that you cause).

For example: Fla & LA requires liability limits of 10/20/10., NV: 15/30/10. This means in Fla & LA - the most any one person can get for a bodily injury claim - regardless of severity of injury -is $10,000.00 (ten thousand).

If you are hurt in an accident - an ambulance ride can cost $500-1000.00. If you have to be taken by helicopter $6,000-12,000.00

An ER visit with a few x rays can run $1000.00. Plus you get a seperate bill from the ER dr and the radiologist who read the x rays.

If you need an MRI or CT scan - your looking at $2500.00 for the proceedure + several hundred more to have the radiologist read it.

As you can see, $10,000 in liability coverage is not going to pay for very much - the above example has not considered lost wages, physical therapy, surgery or pain and suffering.

This is where your UIM coverage would come in. It would pick up once the $10,000 was exhausted and pay the value of the claim up to the limit of UIM coverage you purchased.

Answer 5

Well, what happens if you get really, really hurt and your health insurance won't pay? What if you're out of work for 3 months, and lose your job? What if you need REHAB services for 6 weeks after two broken legs?

UM/UIM is for YOU and the people in YOUR CAR, if you have SEVERE injuries in an accident, and the other guy has NO insurance, or has a lower limit of liability coverage than you carry UIM.

It's cheap. You're not likely to use it. But that's why it's so cheap. If you live at home with mom & dad, and don't need to worry about making the mortgage payment if you can't work for 6 months, you don't need it.

Answer 6

uninsured motorists coverage pays you for your injuries (your lost wages, lost earning capacity, your pain and suffering, your future and past medical expenses) if you are injured and the person who is responsible doesn't have insurance to pay you for your losses. That is completely different than comp (fire damage to your car) and collision (damage to your car in an ax) coverages.

Answer 7

Uninsured and underinsured coverage pays your medical bills, lost wages, and pain and suffering if the other person doesn't have insurance or doesn't have enough. It will pay for everyone in your car. You don't need it you are the only person ever in the car. It does not pay for repairs to your car so having comp and collision doesn't matter.

Answer 8

You may take this one, as this will help you in future. For more details visit http://insurance.sjdinfotech.com

Answer 9

well all i no you should get progressive and that will cover you and it is real real cheap you no &hearts