Unfortunately, just because you do your best to abide by state laws and regulations doesn’t mean other drivers will too. You need to take precautions against these drivers. It is why we’re taught defensive driving techniques to help prevent a not-at-fault accident caused by other drivers. However, you also need to protect yourself and your family from drivers that don’t carry car insurance or the state minimum insurance in case a major accident occurs.
Uninsured/Underinsured Motorist coverage
Uninsured/Underinsured Motorist (UM/UIM) coverage is designed to protect you and your finances from drivers who are uninsured or have the bare minimum of insurance coverage. If you’re involved in an accident caused by an uninsured or underinsured motorist you could potentially suffer significant financial losses. UM/UIM coverage helps cover the damages from crashes caused by drivers with insufficient coverage.
Why You Should Consider UM/UIM Coverage
Despite it being required by Tennessee law to have at least liability coverage, many drivers don’t have any form of car insurance. In fact, Tennessee ranks fifth in the country for most uninsured drivers with around 20% of vehicles on the road without insurance. The state has increased the penalties to help keep these numbers down. But unfortunately, their irresponsibility can affect you.
Even if a driver has the state minimum requirement, it may not be enough to cover all the damages in a severe accident. Underinsured motorist coverage will cover the remaining balance that wasn't covered by the driver’s liability coverage.
How UM/UIM Coverage Works
Even though the uninsured motorist is ultimately responsible for damages caused in an at-fault accident, you may not see any money for a while, if at all. Most of these drivers don’t have insurance because they can’t afford it. They also can’t manage to pay the out of pocket costs for the damages they caused. Unless you choose to engage in a lawsuit, you will be responsible for the cost of the damages to your vehicle and any medical expenses that need be covered.
Talk to your insurance agent about uninsured/underinsured motorist coverage and see if it is something that is right for you. If you have been involved in an accident with an uninsured driver, give us a call to see if you could be compensated for your lost finances.