Arizona Uninsured & Underinsured Insurance Coverage-Why You Need It
All right, guys in today’s blog & video we are talking about something that is huge, a very important coverage on your auto insurance policy. That coverage is uninsured and underinsured motorist coverage. Now, why is this coverage so huge or so important? Listen to these numbers- The national average of uninsured drivers on the road is 13%. But get this, that number in Arizona is 20%! That means that one out of every five cars that passes you when you’re driving down the road does not have any insurance. That’s crazy, and that’s not even to mention the amount of drivers that pass you that don’t have enough insurance.
So, how does uninsured/underinsured motorist insurance coverage play into this? Well, let’s take an example- Let’s say you’re in a covered accident and somebody hits you, they didn’t have enough insurance or they don’t have any insurance and you have medical injuries. What are you going to do? Well, this coverage can kick in and help pay for those medical injuries and things associated with them; for example, lost wages. You can see it’s very important to have this coverage to protect yourself from all those crazies driving down the road without any insurance or without enough insurance.
This coverage also is very inexpensive. A lot of times I see people reject this coverage because they want to save a bit of money, but it’s really only saving them a couple bucks each month. It is so worth it to not reject it and to have this coverage on your policy.
Now what limits do we recommend? Just like we recommend bodily injury limits of $250,000 and $500,000, we recommend the same on your uninsured/underinsured. We recommend limits of $250,000 per person up to $500,000 per accident. That’s on both your uninsured and your underinsured motorist coverage. Then on top of that we recommend that you add a $1 million umbrella, that includes first-party liability, or what others would sometimes refer to as excess uninsured/underinsured liability limits.
It’s very important that you have this coverage and it’s very important that you have those limits so that you can try to sufficiently cover yourself from all those crazy people out on the road driving around without insurance. So go and check your policy now, make sure you have that coverage if you don’t, add it, and then you can sleep well at night.