Vehicle owners assume risks any time they drive. For example, if you cause an accident while on the road, you will be financially responsible for any property damage or injuries that result. For this reason, the majority of vehicle owners carry liability insurance.
In cases where you are involved in an accident caused by another driver, however, your liability insurance will not cover any of your expenses. Instead, you will typically rely on the responsible party’s insurance coverage to pay your bills. If the responsible party does not carry adequate insurance, the situation becomes immediately more complicated.
Accidents Caused by Uninsured Drivers
If an uninsured or underinsured driver causes an accident, you can try to collect directly from the party responsible. However, this is often unsuccessful. If you cannot collect the damages you need, you may find yourself facing a financial crisis. Fortunately, you can protect yourself from this situation by purchasing UI and UIM insurance.
About Uninsured and Underinsured Motorist Coverage
Uninsured and underinsured motorist coverage is intended to provide protection against accidents caused by a driver who does not carry the proper amount of liability insurance. UI and UIM insurance may also cover hit-and-run accidents.
Many states require drivers to purchase liability insurance, and some states require UI and UIM insurance as well. In fact, in the state of Kansas, drivers are required to carry a certain amount of UI and UIM insurance. However, for most drivers, purchasing more than the minimum required amount of coverage is recommended.
Why You Should Increase UI and UIM Coverage Limits
Across the United States, the average rate of uninsured drivers was around 10 to 15 percent in 2015. This percentage does not include drivers who purchase low limit policies that do not include enough coverage to compensate victims after an accident adequately.
Recently, economic issues have led to even higher numbers of uninsured and underinsured drivers. To help drivers afford insurance coverage, many insurance providers have even lowered their premiums and/or offered deferred billing. However, after these measures end, it is likely that the rate of uninsured drivers will climb even more. For this reason, all Kansas drivers should consider purchasing larger UI and UIM policies.
Purchasing the Right Amount of Coverage
It is possible to satisfy your requirements under state law by purchasing a UI and UIM policy with low limits. However, because these low-limit policies do not provide the level of protection most drivers need, it is usually better to purchase a larger policy. If you are not sure how much UI and UIM insurance you need, the best way to make sure you have enough coverage is to work with an independent insurance agent.
An independent insurance agent will be able to recommend specific coverage options based on your unique needs. In addition, because independent insurance agents are not affiliated with a single insurance provider, they can compare quotes from multiple providers to help you find the most affordable price.
Integrity Insurance Agency is proud to offer customized insurance solutions to our clients. Please contact us today to discuss your UI and UIM needs.