You’ve checked and double-checked. You have the insurance coverage required in Illinois. Isn’t that enough?
Well, even though you might have the right coverage, that doesn’t mean that every other driver does. In Illinois, as many as 13.7% of drivers may be uninsured. Even more, may be underinsured. This is countered through the use of UI and UIM insurance. UI (uninsured motorist/UM) insurance and UIM (underinsured motorist) insurance cover you if the person you get into an accident with isn’t covered.
The Hypotheticals: What is UI and UIM Insurance? Why Is It So Important?
If you hit someone, you know that your insurance is going to cover you. But if they hit you, do you know that you’re covered? Let’s say that they don’t have any insurance. Now, you need to begin the painstaking process of getting money from them, in court.
Even if they do have insurance, what if they have too little? A $20,000 bodily injury cap isn’t going to help you if you have $80,000 worth in medical bills.
But if you have uninsured motorist and underinsured motorist coverage, your own insurance company will payout. You don’t need to worry about anything.
While you can’t make sure that other drivers are insured, or that they drive safely, you can make sure that you’re covered. And that means getting all the insurance that you can.
The Growing Importance of UM, UIM, and UMPD Insurance
In addition to UM and UIM insurance, there’s also Uninsured Motorist Property Damage (UMPD) insurance. All these insurance options are important to protect yourself from those who may not have insurance at all or may have insufficient levels of insurance. And there’s a very compelling reason why you should have this type of insurance now.
During economic recessions, more people try to go without insurance or reduce the amount of insurance they have. While 13% of drivers may not have had insurance last year, it could be far more this year. And these people aren’t likely to stop driving altogether; they’re still going to need to go to work, complete errands, and perform other tasks.
Since you can’t control what other drivers do, you need to control how prepared you are.
How to Get UM/UIM/UMPD Insurance
UM/UIM/UMPD insurance is added to your car insurance package like any other type of coverage. But finding the right coverage options can be a challenge. That’s where an independent agent can come in. Independent agents can compare many third-party insurance companies, finding the right solutions for you, regardless of your car, your desired coverage, and your driving history.
If you want to make sure you’re getting both the best deals and the best coverage, working with an independent agent is a great choice. Not only will they be able to find you the right policy, but they can also help you regularly review your policies to make sure they’re still the right coverage for you. If you’re currently in the market for liability coverage, or if you’re interested in uninsured coverage, contact AFI Insurance today.