Protect Yourself from the After Effects of Recession

Protect Yourself from the After Effects of Recession!

Add Uninsured Motorist Coverage to Your Car Insurance Policy

Experts predict that as unemployment continues to rise, so will the number of uninsured motorists on the streets.

Recent studies show that over 20% of drivers in many states, including Florida, New Mexico, Oklahoma and Alabama, are currently driving either insurance free or with less coverage than would actually take care of their expenses if they were involved in a major accident. Economists theorize that these families are using that additional income to meet their more basic needs.

That's all fine and dandy for them, but what happens when you're the one behind the wheel when Murphy's Law kicks in and they have an accident?

The short story is, you get stuck with the bill. You didn't do anything wrong, you certainly weren't responsible, yet you're going to end up paying co-pays, deductibles and anything that isn't covered by your medical insurance (or the whole bill if you're among the millions of Americans working for an employer who can't be bothered to provide insurance)…along with the cost of your auto repairs.

In almost every state, drivers have the option to add uninsured motorist coverage to their car insurance policies. It's even mandatory in numerous states from coast to coast, especially those with a high accident rate and prize winning statistics when it comes to uninsured drivers (which is truly ironic when you consider the fact that many of these states also allow drivers to pay a fee each year to drive without insurance). That means that if the person who hit you didn't have insurance, or their insurance cap stopped long before the damages were paid for, your insurance company will pick up the slack. You'll never be left struggling to pay repair bills and get your car back on the road.

Whether you live in a state that requires it or not, adding uninsured/underinsured motorist to your car insurance policy is all but guaranteed to be a good idea when it's all said and done. The last thing you want is to find yourself in serious financial trouble because you didn't have anyone to turn to after you were in an accident, and let's face it-litigation just doesn't work out the way you want it to when the driver in question doesn't make enough in a year to cover the damages you're suing them for.

Adding uninsured motorist coverage to your car insurance policy doesn't cost much. Wouldn't you rather know you're not playing Russian roulette with uninsured drivers when you head on down the highway?

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