Truckers Uninsured
Motorists Coverage Explained
This coverage protects you in case you are involved in an accident with
a person not covered by a liability insurance or does not possess sufficient
liability insurance to disburse for the injuries and damages caused. There
are different options available on Uninsured Motorist coverage and these
vary in each State. These include the coverage options, mandatory requirements
and the available coverage limits.
If you seek for uninsured motorist coverage, our licensed agents can
assist you to determine the options available and which options are right
for your business. Generally and depending on each State, the Uninsured
Motorist coverage may be in three separate policies and these are;
• Uninsured Motorist insurance Coverage (UM/UMBI)
• Underinsured Motorist insurance Coverage (UIM)
• Uninsured Motorist Property Damage Coverage (UMPD)
Uninsured Motorist Coverage (UM) Defined
This policy is also referred to as Uninsured Motorist Bodily
Injury insurance coverage (UMBI) and it covers the damages that are
caused by a driver who is uninsured. Similarly, Uninsured Motorist insurance
(UM) also covers you and your passengers against damages and injuries
sustained from a hit-and-run incident. The expenses that are covered
by the UM coverage are:
• Wage loss when you
are out of work.
• Medical expenses.
• The pain and agony you go through.
Underinsured Motorist Coverage Insurance (UIM)
This coverage compensates for the injuries and losses that are
caused by a driver who has insufficient or little insurance cover to
meet compensations of all injuries. Some States incorporate UIM as part
of the Uninsured Motorist insurance (UM). This coverage takes care of
expenses that arise from the following:
• Wage loss when you
are out of work.
• Medical expenses.
• The pain and agony you go through.
Uninsured Motorist Property Damage Coverage insurance (UMPD)
This type of coverage covers the damages that are caused by an
uninsured driver to properties. In the same way, the Uninsured Motorist
Property Damage coverage may also cover the damages that are caused
in your vehicle by a hit-and-run driver. The scope of the coverage may
also include personal property and your car but this may depend on the
State insurance laws. In addition, this coverage policy is not offered
in all states.
Who Should Take the Uninsured Motorist Coverage?
This coverage is optional in some states and a mandatory insurance
in others. You can contact and talk to our licensed representatives
to determine whether your state requires you to take this coverage.
Although your state may not require you to have this coverage, it is
strongly advised that you add this coverage in your commercial auto
insurance.
Statistics show that about 15% of drivers on the road do not have mandatory
liability insurance. This means that if these drivers are involved in
an accident and you are injured or your car is damaged and property is
damaged, there may be no insurance company to compensate you for the injuries
and damages. This subjects you to incur the cost of the damages, but if
you have Uninsured Motorist coverage, you can easily get compensated for
the eventualities.
It is also common that some drivers have no enough coverage that can
cover all the damages and injuries caused and therefore if the at-fault
driver is not able to pay for the damages out of his or her pocket, this
means that you have to bear the cost. But is you have Underinsured Motorist
coverage, you can also get compensated for the damages and injuries caused
by a driver at fault who does not have sufficient insurance cover for
the same.
The Underinsured Motorist coverage is included in the Uninsured Motorist
coverage in some states. In essence, the Underinsured coverage enables
you to protect yourself from paying large amount of money from injuries
and damages caused by a driver at-fault.
Uninsured Motorist Insurance: Limits and Other Coverage Information
There are limits you can select when choosing Uninsured Motorist coverage
and these enable you to establish the maximum amount of coverage that
your insurance company pays in terms of compensations.
In both Uninsured Motorist coverage and Underinsured Motorist coverage,
the limit you choose determines the maximum amount of payout you get from
this coverage. In either coverage, you can choose from split limit or
combined single limit. When you choose the split limit, the first number
describes the maximum compensations per person and the second number describes
the maximum payout per accident.
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