Uninsured Motorist
One of the biggest road hazards you may face are uninsured motorists. You have to worry about the uninsured adding financial ruin to your list of "personal" injuries.
Unfortunately, there is a direct correlation between the rate of unemployment and the rate of uninsured motorists. It has been said that for every 1 percent increase in unemployment nationwide, the percentage of uninsured motorists increases three-quarters of a percentage point. In 2007 the rate was 13.8 percent and it's estimated that by next year the rate will be 16.1 percent.
What is uninsured motorist coverage? It's coverage on your own policy that covers you and the people in your car if the person at fault for causing an accident doesn't have auto insurance. It also covers your family members when riding in someone else's car. It's insurance that in the event of an accident with an uninsured driver provides you with minimal insurance coverage.
What is underinsured motorist coverage? It picks up coverage after the at fault driver's coverage exhausts. It covers you, your family and those riding in your car.
Here is what you need to do to protect yourself. Read the declarations page of your auto insurance
policy. Don't wait until you've had an accident. What is the coverage? Is it enough? You can tell if the amount of your coverage is enough if the coverage is at minimum $100,000/$300,000.
Look today at your policy. If you don't have enough coverage act diligently and secure more coverage by calling your insurance agent. Don't wait until you've been in an accident. Waiting until you're sitting in the lawyer's office is too late.