Driving in the Phoenix metropolitan area is a risky endeavour. Especially on our freeways, where people drive to fast, they're distracted by any number of things. We eat in our cars, fiddle on our state of the art stereos, text on our phones, and easily get distracted by those in our cars. It's any wonder we don't have more accidents than we already do!
Which leads to my question. Can we trust the drivers who're next to us on the road to have the right insurance to cover us if they're at fault for an accident? The simple answer is NO! Statistics bear this out. According to recent estimates by the Insurance Research Council, about 1 in 7 drivers is uninsured. Add in those drivers who are underinsured because they carry Arizona state minimum auto insurance limits and you can expect that probably three cars, within sight of you on the freeway, have minimal to no insurance.
Roughly 1 in 7 drivers is uninsured. Protect yourself with Uninsured/Underinsured Motorist coverage. Share on Twitter
As an insurance professional, I can't physically protect you from accidents but I can protect you financially when a devastating accident occurs. This is where proper advice and counsel from an experienced, professional insurance agent can save you from financial heartache.
The solution to protect yourself is to have matching Uninsured and Underinsured Motorist Coverage at high limits (we suggest at a minimum $100,000/$300,000) and then make sure you have Excess Uninsured and Underinsured Motorist Coverage as an extension to your Excess Umbrella Policy. The excess coverage is often at $1,000,000. Many carriers don't offer this as part of their Umbrella policy so ASK for it.
What is Uninsured/Underinsured (UM/UIM) Motorist Coverage?
It's insurance that pays for your injuries from an accident caused by the owner or operator of an uninsured or underinsured vehicle. This coverage goes into action when the other driver doesn't have insurance or doesn't have enough insurance to pay for your injuries. You don't need to be in your car for this coverage to activate. You can be a pedestrian or on a bicycle when struck by an uninsured driver or underinsured driver and your UM/UIM coverage would step in.
Don't be lulled into a false sense of security about this coverage. Consider all those drivers who respond to the TV commercials which focus on "cheap insurance", fast quotes, and state minimum policies. There's many of them out there so it's up to you to protect yourself.
If you're not sure how you would be covered then give me a call. I'd be glad to review your policy with you to discern your needs and recommend the best coverage for your situation. Oh, and we can often find you better coverage at a lower price so it's a WIN-WIN scenario for you.
I leave you with this final thought. Be safe out there on our roadways, don't text and drive, slow down, and reduce your distractions while behind the wheel.
Author Richard Morris
Richard Morris, an independent insurance agent in Chandler, Arizona, has been serving and helping Arizona families with all their insurance needs for over 23 years. Visit his website at http://www.southwestpremierinsuranceagency.com to see all the ways he can help you with your insurance needs or call the office at (480) 336-2707 or toll free at (888) 907-9349. Connect with Rich on Google+ and Twitter.