What Is Uninsured and Underinsured Bodily Injury Coverage?
Uninsured and underinsured bodily injury coverage helps protect you in the event that you are an accident and the at fault party does not have enough liability coverage or doesn’t have any liability coverage. So this is to protect you from people out there driving without the proper insurance coverage.
What Does Uninsured/Underinsured Motorist Coverage Cover?
As we said, this coverage is to help pay for you or your passengers medical bills if you’re in an accident and the at fault party, so you’re not at fault, but the person that hits you is at fault and they don’t have enough insurance or they don’t have any insurance.
In addition to medical bills, it can help pay for pain and suffering and lost wages. Uninsured/ underinsured motorist coverage comes in the same increments as liability coverage. We talked about that in another video, but that’s the same limits. Like we talked about 100/300, so 100,000 per person, 300,000 per accident.
It comes in the same increments as liability coverage. What does uninsured, underinsured bodily injury coverage not cover. The first main thing to point out is this coverage does not cover you if you are the at fault party. This is only if another individual hits you and causes damage and they were at fault. This coverage also does not cover property damage.
In other words, if somebody hits you and they don’t have enough insurance or they don’t have any insurance and there’s damage to your vehicle. This coverage does not help you in that scenario. Now, it’s important to point out that this is specific to arizona.
There are some states that have uninsured underinsured for property damage. But if you’re in arizona, that’s not the case. So if you’re in a different state, consult with an independent broker and ask them if that is an option to add on to your insurance policy.
Do You Need Uninsured and Underinsured Motorist Coverage?
Yes, you absolutely do. In fact, in our agency and our brokerage at heritage, we will not sell you a policy that does not include uninsured and underinsured motorist coverage. It is a very, very important coverage. You can look up the statistics, but there are many people out there driving without the proper coverage, sometimes without any coverage at all.
And this is a very simple and inexpensive way to fully protect yourself from those drivers. How much uninsured underinsured coverage do you need at heritage, we recommend that you match your uninsured underinsured coverage with your liability coverage. So if you have 250/ 500 for your liability. That is what we recommend that you have for your uninsured and underinsured motorist coverage.
How Much Does Uninsured/Underinsured Coverage Cost?
Well, like most things in the insurance world, the answer is, it depends. The insurance company is going to look at a number of factors, how old you are your driving record the vehicle you drive the area in which you drive where you live.
There are a number of different factors that are going to play into how much this coverage cost. But I can tell you it is fairly inexpensive compared to other coverages, but the benefits of having it far outweigh any premium that you pay. As always. It’s best to consult with an independent broker.
They can look at your specific scenario, your specific life case and craft the best policy for you the best coverage, along with the best price.