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Health & Fitness

Insurance 101 - UIM Coverage... Say what?

Did you know that one in five drivers are uninsured? Uninsured motorist coverage can protect you and your family in the event one happens to bump into you...

There was a stat that I heard when I started in the insurance industry that shocked me. The stat was that 20% of the drivers on the road do not have auto insurance. Yep, you heard right, 20%. Why does this matter to you? Let me explain.

Let's think a little about why someone may not have insurance. First and foremost, it has to be the expense. When times get tough I'm sure some people choose to drop their auto insurance. Unfortunately, in today's economy I can see that happening. Another reason is that due to the individuals driving record the cost of insurance is just out of reach.

It is that second individual that should worry you. Maybe they have too many tickets or have caused too many accidents. Then due to their poor driving record, the cost of insurance goes up and it just isn't feasible for their budget. So what is the chance that one of these individuals gets into another accident? Higher than we all would like.

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So what happens if someone that doesn't have insurance happens to hit your car? If you have underinsured/uninsured motorist coverage (UIM coverage) you will be covered. The limits of your UIM coverage is up to you, but typically mirrors the limits you choose for your liability limits and works the same way. Click  to see last weeks blog entry about liability limits. The difference is that this coverage covers you and your vehicle.

The coverage applies in the following situations:

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Covers bodily injury to you, family members and any other person occupying your covered auto, caused by an uninsured motorist or a hit-and-run driver.

Coverage also applies if the other driver does not have adequate coverage to pay for your injuries as a result of an accident.

Uninsured Motorist Property covers your vehicle is damaged by an unisured motorist or a hit-and-run.

While UIM coverage is not required by state law in Washington, it is still a vital part of your insurance plan. With one in five drivers choosing to drive uninsured, you can't afford to go without it.

The bitterness of poor coverage lingers long after the sweet price is forgotten.

Joe Urvina is an insurance agent located in Gig Harbor, WA
www.facebook.com/jufarmers
jurvina@farmersagent.com
Twitter - @FarmersAgentWA
(253) 858-5881

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