Importance of Having Uninsured/Underinsured Motorist Coverage

One of the most crucial elements of your personal insurance is your auto insurance. However, it may not be enough to purchase only the minimum required auto insurance. If you carry only the minimum required coverage, you may be leaving yourself open to huge bills in the event of an accident. One of the most important but often overlooked types of auto insurance is uninsured and underinsured motorist (UM/UIM) coverage. In Kentucky, insurance policies are required to include this type of coverage, but policyholders have the right to reject it in writing. However, it is not advisable to reject UM/UIM coverage. UM/UIM coverage offers several benefits. Below is a look at the importance of having uninsured/underinsured motorist coverage.

Protection Against Uninsured Drivers

Despite the law requiring all drivers to purchase auto insurance, not all drivers on the road have auto insurance. The number of uninsured drivers on American roads is alarming. According to the Insurance Information Institute (III), in 2022, the number of uninsured drivers in Kentucky stood at 18.7%. One of the main reasons to purchase UM/UIM coverage is because this type of coverage can protect you in case you get into an accident with an uninsured driver. If you get into an accident with an uninsured driver and you don’t have UM/UIM coverage, you may have to pay your medical expenses and vehicle repairs out of pocket.

Protection Against Underinsured Drivers

Even if a driver has insurance, they may carry only the minimum required insurance. Such a driver might have insufficient insurance to cover your damages after an accident. Uninsured/underinsured motorist coverage can offer additional protection in the event you get into an accident with a driver who does not have sufficient insurance to compensate you for your injuries and damages. The at-fault driver pays you what they can from their insurance, and your UM/UIM coverage steps up and makes up the difference between what the at-fault driver’s insurance paid and the total costs of your damages.

Protection in the Event of a Hit and Run Accident

Another reason to have uninsured/underinsured motorist coverage is that it can protect you if you are involved in a hit-and-run accident. A hit-and-run occurs when a driver involved in a collision fails to stop at the accident scene. In a hit-and-run collision, the driver does not call the police or render help to injured individuals. There are numerous reasons why drivers flee the scene of an accident, but no reason justifies fleeing the scene of an accident. Common reasons for fleeing the scene of an accident include panic, lack of insurance, and fear of legal consequences.

If you are involved in a hit-and-run accident and the fleeing driver is not identified or located, you may be left with no legal recourse if you don’t have UM/UIM coverage. If you are involved in a hit-and-run accident and the other driver is never found, your UM/UIM coverage can pay for your damages. Uninsured/underinsured motorist coverage can pay for damages like medical expenses, lost wages, property damage, and pain and suffering.

Contact a London & Southeast Kentucky Auto Accident Lawyer

If you are involved in a hit-and-run accident or an accident with an uninsured or underinsured driver, our London & Southeast Kentucky auto accident attorneys at Cessna & George Law Firm can help. To contact us, call 606-770-5400 or fill out our online contact form.