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Is Uninsured and Underinsured Coverage Worth the Cost?

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When purchasing auto insurance, you have many choices in types of coverage to carry. Liability, collision and comprehensive coverage are common to ensure that you, your vehicle and others involved in a car crash will be covered if you cause an accident. Other types of insurance options that are available are uninsured and underinsured coverage, but you may wonder if it is worth the cost to purchase this additional coverage.

What Is Uninsured and Underinsured Coverage?

When you purchase most types of auto insurance coverage, it is to ensure that if you cause an accident, you will not have to pay the damages out of your own pocket. Liability insurance covers the other vehicles, drivers and passengers if you are at fault in a multiple car accident. Comprehensive and collision cover your vehicle for damage that does not involve another vehicle, such as hitting a tree or having a rock fly up and crack your windshield while driving.

If you are not at fault in an accident, but instead it is caused by another driver, it is up to them to pay for damages. In Florida, all drivers are required to have at least liability insurance to legally drive, but that does not mean everyone follows the law. Even if an at-fault driver has liability coverage, if the damage to your car or person costs more than their maximum coverage, you may find it difficult to receive all the compensation you deserve.

Uninsured and underinsured coverage is designed to give you extra protection in accidents caused by others. If an uninsured driver causes a crash that damages your car or causes an injury, your own insurance will cover damages incurred in the accident. The same is true if the damage costs more than the liability coverage carried by the other driver, or if the accident is a hit-and-run.

Is Uninsured and Underinsured Coverage Expensive?

In comparison to other types of coverage, uninsured and underinsured coverage is inexpensive. Since most states mandate liability coverage, most drivers on the road have adequate coverage, but this optional insurance gives you extra protection at minimal cost. It is worth the expense to know you have the coverage you need, even if the person who causes an accident does not.

If you are the victim of an auto accident, our team at Tison Law Group can help ensure you receive the compensation you deserve for injuries and damages. If you have uninsured or underinsured coverage on your insurance policy, it may help cover the compensation for your injuries if the at-fault driver does not have insurance or not enough insurance to cover the extent of damage caused by the accident.

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