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The risk posed by uninsured drivers is something far from the mind of most people. Many motorists assume that the people they encounter on the roads are as responsible as they are, and carry the necessary insurance required by state laws. However, this is far from the truth –according to the Insurance Research Council, 1 in 7 at-fault drivers involved in car accidents are uninsured.
What can happen to an insured driver who is involved in a collision with an uninsured party? Despite the fact that you may carry regular full insurance coverage, since the at-fault driver is not insured whatsoever, you can become completely responsible for you the damage to your automobile, and any personal medical expenses that may arise from injuries sustained in the accident.
It may be possible to pursue the guilty parties through a civil lawsuit to recoup damages, but since they most likely did not have insurance because they not afford it in the first place, the chances of being able to actually collect any amounts awarded by a court are quite low.
Civil cases can also take several years to reach a judgment, leaving you unable to take care of your immediate obligations.
Fortunately, there are options to protect insured drivers against the uninsured. The most basic protection can be found in a comprehensive insurance policy that includes physical damage or collision insurance.
With this type of coverage any damage caused to your automobile by an uninsured driver, or even a hit and run situation, is covered by your insurance company. Unfortunately, this does not extend to any injuries that may have occurred as a result of the accident. This is where an uninsured driver insurance policy comes in.
This type of policy covers both physical damage to your vehicle as well as any medical expenses related to the accident. In some cases, the policy will even take care of the bill for your rental car while your repairs are underway.
Typically handled as an add-on to your current insurance policy, it can also be combined with something called underinsured driver insurance. This type of insurance acts as a stop gap for dealing with accidents that involve drivers carrying only the bare minimum liability insurance required by law.
This minimum coverage may not be enough to take care of all of your medical care or recovery costs. With underinsured driver insurance, your insurance company will bridge the gap between what the at-fault driver’s insurance provides and the price of your care, ensuring that you wont have to deal with any financial hardship in addition to your injuries.
While it may seem tempting to roll the dice when it comes to accident coverage and uninsured drivers, when you consider the low cost of this type of insurance (typically between $10 and $15 per month), it seems like affordable peace of mind.
Insurance is something we all pay into in the hopes that we will never have to benefit from our investment, but when that day comes, the most comprehensive coverage you can afford is always the easiest and most prudent choice.