081: Uninsured/Underinsured Motorist- Auto Insurance
I am continuing my discussion about different parts of the Auto policy.
Uninsured/Underinsured Motorist coverage – the most overlooked part of the Auto policy.
Let me give you an example, if your car gets hit and it’s not your fault, then the other driver is responsible, but what if he/she have very low liability limit on his/her policy and it’s not enough to cover your damages?
How about if it’s a hit and run accident and there is no one who can be responsible for the damages?
Well, that is why I highly recommend to make sure Uninsured/Underinsured liability coverage matches your general Bodily Liability amount. In other words, you are buying coverage for yourself!!!
For some of you, there might be a need to purchase Excess Uninsured/Underinsured motorist coverage if you have substantial assets to protect.