Should i have underinsured motorist coverage

The cost of uninsured motorist coverage usually fluctuates depending on the percentage of uninsured drivers in a state. On average, uninsured motorist coverage costs much less than standard liability coverage. If you can afford it, our recommendation is to purchase uninsured motorist coverage to be on the safe side. That number varied greatly by state. For example, That means one out of every four drivers was uninsured. On the other end of the spectrum, only 4.

According to one study from AAA , That report found that New Mexico, Louisiana and Florida had the highest rates of hit-and-runs per capita. Uninsured motorist coverage helps you avoid this situation. Here are some pros and cons of UM coverage:. A variety of states require some form of underinsured or uninsured motorist coverage. If your state is not listed in the chart below, you are not required to purchase coverage, but you may still want to for your own peace of mind.

Use the free tool below to compare multiple quotes from top providers, or read on to learn more about two of our highest-rated insurers with uninsured motorist coverage: USAA and State Farm. USAA is a great choice for car insurance if you are a member of the military or have an immediate family member in the armed services. USAA tends to be the cheapest option for those who qualify, plus it has a great reputation for customer service.

The company scored out of 1, points in the J. Power U. USAA offers auto insurance in all 50 states and can satisfy any requirement for uninsured or underinsured motorist coverage.

After a thorough review of State Farm car insurance, we found that the company offers the best prices for students on average. If you have a full coverage insurance policy, you may already have uninsured motorist coverage. Would you be able to cover your own medical bills and repair costs if an uninsured driver caused an accident?

Compare car insurance quotes to find a good price. Some states require companies to automatically include uninsured motorist coverage, and drivers can reject it when receiving a car insurance quote. If you reject this coverage, you simply lose coverage for accidents caused by uninsured drivers. Still, uninsured motorist insurance is cheaper than liability coverage when purchased in the same amounts — generally less than half the cost. For an extra cost, you can combine uninsured motorist bodily injury limits for multiple vehicles — either under one policy or across several policies in your name — to increase the overall coverage in an accident.

While your health insurance should pay for medical treatment after a wreck, uninsured motorist coverage could still be beneficial, as it can cover ongoing expenses like long-term care.

Yes, some car insurers will use your uninsured motorist coverage to pay for injuries or damage expenses after a hit-and-run accident. What is uninsured motorist coverage? ZIP Code. How uninsured motorist coverage works. Uninsured vs. What does uninsured motorist coverage pay for? Which states require uninsured motorist coverage? Coverage is optional if available.

New Jersey. New Mexico. New York. North Carolina. North Dakota. Rhode Island. Jeff sustains injuries and goes to the hospital, where he receives treatment for a few broken bones. Jeff files an uninsured motorist coverage claim to cover the rest of his medical expenses. Most auto insurance companies offer UM insurance, but you might have to compare quotes from a few different providers before selecting the right plan. Unless you live in a state where it is required to have UM, you do not need to pay for uninsured motorist insurance.

Are you able to cover unexpected medical bills, can you pay for car repairs out-of-pocket and will you be able to work if injured? Not all states require UM insurance, but it could already be included in your auto insurance coverage, so check with your provider.

The following states require UM insurance:. Remember that minimum liability limits vary by state, so be sure to discuss your required limits with each insurance provider when shopping for auto insurance quotes. The amount of uninsured motorists varies by state. Still, if you live in an area with a high percentage of uninsured drivers, it is probably a good idea to get UM coverage to protect yourself in the event of an accident.

The table below ranks each state by percentage of uninsured drivers. Source: Insurance Research Council. Consider the cost of uninsured motorist coverage when weighing your options.

If the minimum liability coverage is low in your state, it might ultimately benefit you to consider uninsured motorist coverage. However, adding UM to your car insurance coverage could save you a lot of money — and frustration — if you are ever in an accident caused by an uninsured or underinsured driver. When looking for the best auto insurance to protect yourself and your family, consider these key points:. UM is additional insurance coverage that covers expenses related to an accident caused by a driver who either does not have auto insurance or whose policy will not cover the total amount of expenses.

UM covers medical bills, lost wages if you cannot work while recovering from the accident, pain and suffering compensation, funeral expenses and in some states, car damage. UM is not required by law in all 50 states; however, many car insurance providers will include UM in their car insurance policies.