If you’re in a budget crunch, you may look for ways to save money on various expenses. One area that may tempt you is dropping uninsured/underinsured motorist coverage on your auto insurance policy in Negaunee, MI. However, accidents with those who don’t have insurance occur more often than you think. U.P. Insurance Agency Inc. can help you learn how to save on your insurance policy.
What is Uninsured/Underinsured Motorist Coverage?
This coverage protects you financially if your vehicle sustains damage in an accident caused by another motorist who may have insufficient or no insurance. Some drivers only buy the state minimum-mandated coverage for damages and liability. In virtually any accident scenario, this minimum isn’t enough. Even if you are not at fault, you will pay all or most of your medical costs. This provision can also pay for damages if you sustain damages and injuries from a hit-and-run driver.
The Importance of This Coverage
Uninsured/underinsured motorist coverage is an add-on to your insurance policy. The state does not require you to include it in your auto insurance policy, but insurance experts highly recommend it. Michigan has one of the highest rates of uninsured motorists in the United States, despite state law requiring drivers to have insurance to drive legally. Some estimates indicate that almost 20% of Michigan drivers do not have insurance. That statistic means nearly one in five drivers on the road don’t have insurance. Premiums for uninsured/underinsured motorists are minimal, especially considering the thousands of dollars an accident can cost. Keeping this provision as part of your policy will give you peace of mind, knowing you have the means to cover medical bills, lost wages, and physical damage.
Contact U.P. Insurance Agency Inc., serving Negaunee, MI, to learn how to keep insurance costs down while still including uninsured/underinsured motorist coverage.
