Imagine a relaxing drive around O’Fallon, Jefferson City, or Kirksville, Missouri. A car accident is the last thing on your mind, but when another driver isn’t acting responsibly, one can occur anyway. While this is bad enough on its own, it’s even more difficult to deal with if the other driver doesn’t have the proper insurance coverage. Fortunately, uninsured motorist (UI) and underinsured motorist (UIM) insurance are designed for just that. Learn all about the advantages of UI and UIM insurance, and discover why you should make sure you’re covered.
Advantages of Uninsured Motorist Insurance
Uninsured motorist insurance is designed to keep you protected when you get into an accident that wasn’t your fault and the other driver doesn’t have any insurance. Typically, the other driver’s insurance would cover any damages you incur, but if they don’t have any insurance, you have nothing to collect from. With uninsured motorist insurance, you can turn to your own insurance company instead.
With uninsured motorist coverage, you’re covered for any bodily injuries you may sustain as a result of the accident. Keep in mind that this extends beyond medical bills, as it could also cover lost wages and potentially non-economic damages like pain and suffering. A second type of coverage exists for property damage.
Advantages of Underinsured Motorist Insurance
Underinsured motorist insurance tends to go underappreciated in Missouri. This type of insurance is not required by state law, but it is essential if you want to drive with peace of mind. With underinsured motorist insurance, you’re covered if there is a gap between the at-fault driver’s insurance coverage and the extent of your damages.
Imagine you sustained $90,000 worth of damages, but the at-fault driver’s insurance coverage has a limit of $25,000. That would leave you with $65,000 worth of damages that you can’t get compensation for from their insurance company. This is where underinsured motorist insurance comes in. With an effective policy, the remaining $65,000 would be covered so you can focus on recovery.
You Can Drive with Peace of Mind
There are more uninsured and underinsured drivers in Missouri than you might think, so don’t assume that this isn’t a problem you’ll never have to face. In fact, Missouri has the 17th-highest rate of uninsured and underinsured drivers in the country, with a total of 14% of drivers on the road lacking adequate insurance.
The reason so many people drive without insurance is economic difficulties. The state of Missouri requires insurance, but there’s no way to monitor every driver’s insurance status constantly. Plus, insurance companies offering deferred payments can lead to more uninsured drivers. A deferred payment often requires policyholders to either reduce their total amount of coverage or drop their insurance policy altogether.
Find Coverage with Mid-Rivers Insurance
If you’re ready to enjoy all the advantages of UI and UIM insurance, Mid-Rivers Insurance is happy to help. Our team will work with you to figure out the exact policy that works best to keep your assets protected and any potential damages covered. Contact us today for a quote!