Why Do You Need Uninsured Motorist Coverage?
We hope you’ll never find yourself in this situation, but unfortunately, cyclists can often be seriously injured by drivers who don’t have insurance or only have minimal coverage. In some states, the minimum liability insurance required by law is as low as $10,000, which may not be enough to cover serious injuries. Additionally, there are cases where the at-fault driver can't be identified, such as in a hit-and-run accident.
In these situations, uninsured motorist (UM) coverage can provide essential protection. It helps cover your medical expenses and other damages when the at-fault driver doesn’t have enough insurance or has no insurance at all. This coverage acts as a safety net, ensuring you’re not left financially responsible for an accident that wasn’t your fault.
How Does It Work?
Let’s say you have $100,000 in UM coverage on your auto policy. If you’re involved in an accident with a driver who only has $10,000 in bodily injury liability coverage, you could receive $10,000 from their insurance and then claim the remaining $90,000 through your own UM coverage. This means your own insurance essentially fills in the gap left by the underinsured driver.
However, if your UM coverage is only $10,000, you won’t be able to recover more than that, even if the damages are higher. It's important to note that filing a UM claim does not affect your insurance premiums, as it's designed to protect you from the fault of others.
One of the best things about UM coverage is that it’s usually affordable. It’s one of the least expensive types of auto insurance coverage available. At Velosurance, we always recommend getting the highest UM limits you can afford. Your UM coverage might be the only source of compensation in the event of a serious accident.
Interestingly, in some states, you don’t even need to own a car to benefit from UM coverage. As long as you're a household member and listed as an additional insured on a family member’s or another household member’s auto policy that includes UM coverage, you can still be protected.
To make a claim under your UM insurance, several conditions must be met:
- There must be direct contact between you and the vehicle.
- The vehicle must be determined to be at fault for the accident.
- A police report must be filed.
If these requirements are met, you can file a claim and get the financial support you need after an accident.
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