In a perfect world, you wouldn’t need uninsured motorist coverage. But as everyone knows, the world we live in is far from perfect—and there are some people on the road that either don’t have insurance at all, or carry insufficient car insurance coverage to reimburse you for their poor judgment when your paths unfortunately collide. This is the reason why most insurance companies will strongly suggest that you get uninsured motorist coverage.
Is uninsured motorist coverage required in all states?
The majority of states don’t require you to have coverage that’ll protect you in the event you’re hit by someone without insurance, or without enough insurance to pay for the damages they’ve inflicted on you. But this doesn’t mean that it’s not a smart idea to have it.
Won’t my medical insurance cover me for medical bills?
The fast and easy answer is: yes. But by taking a closer look at what you might face, it isn’t exactly a great comfort. The bottom line is, if you have health insurance, are injured in a car accident, and you wind up racking up thousands of dollars (or more) in medical bills, you’ll be covered. However there are a couple of things it won’t pay for.
- Lost wages. Unless you’re lucky enough to be employed by someone that offers an excellent short- or long-term disability package, you could be out of luck if your medical injuries leave you unable to work while you recover. If you’re self-employed, having uninsured motorist coverage could be the very thing that keeps you afloat.
- Pain and suffering. Your health insurance only covers your medical bills. If you’re hit by someone that doesn’t have an insurance policy or doesn’t have adequate insurance, the only other way to get compensation for your pain and suffering is to sue them in court—and odds are you won’t have much luck there, especially if that person’s lack of insurance coverage is a result of their inability to pay for it. Having uninsured motorist coverage covers you for pain and suffering in this event.