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Protecting Yourself Against Uninsured Motorists

Across the country, it is estimated that over ten percent of drivers are on the road without auto insurance. This is the case even in states where car insurance is required by law. Although reasons are varied, often low-income drivers let their insurance lapse while focusing on other expenses. While there is plenty of regional variation at work, that average is still a large enough number to cause insured drivers to stop and take pause.

Consider the consequences of being in an accident with an uninsured driver. Shouldering the financial burden alone, because there is no financially solvent party to file a claim against, is a scary thing to consider.

Uninsured And Underinsured Drivers

Uninsured motorist auto insurance protection, or UM for short, is coverage on an insured drivers policy that protects them when a driver with no liability insurance causes an accident. This coverage also provides protection in the event of a hit and run. Without UM coverage, an accident with an uninsured driver could be financially ruinous. Managing this risk is not only prudent, it is also required by law in many states.

Uninsured Motorist Bodily Injury or UMBI coverage provides protection for bodily injury, while uninsured motorist property damage or UMPD provides coverage for property damage to an insured when they are involved in a not at fault accident with an uninsured driver. Provided an insured driver selects adequate coverage limits among the available coverage options, this coverage can be a lifesaver. Without adequate UMBI or UMPD insurance coverage, an insured driver can potentially be left with huge bills, and no insurer to submit a claim to. Medical expenses alone can be potentially so high that they can be financially devastating, even for a high income earning person.

Underinsured motorist coverage, or UIM, is often packaged with UM coverage. This coverage protects policy holders should they have an accident with a driver whose insurance is inadequate to cover the resulting damages. Once again, if the insured driver has selected high enough limits of protection the insured's policy can often times make up the shortfall left from the at-fault driver's underinsured policy.

Finding The Right Car Insurance

Although important, uninsured motorist coverage is only one component of protection that comprises an auto insurance policy. If you need motor vehicle or other insurance coverage in Oregon or Washington State, we can help. At Fox Insurance Agency, as an independent agency, we can provide you with car insurance quotes from several prominent insurers. If you live in Beaverton, Portland, or the remainder of Oregon or Washington we would be happy to help you find the right policy for your needs. Contact us today.

The information in this article was obtained from various sources and is not all inclusive regarding the subject matter. This content is offered for educational purposes only and does not represent contractual agreements, nor is it intended to replace manuals or instructions provided by the manufacturer or the advice of a qualified professional. The definitions, terms and coverage in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.