Drive along I-17 toward Phoenix on any given day of the week, and you can assume that 1 out of every 7 or 8 cars you pass are uninsured.
Whether you drive often or hardly ever, the fact that so many drivers are uninsured puts you in a precarious position. Naturally, you’ve followed the law and purchased the appropriate amount of insurance for your car, based on Arizona State requirements.
This means you have adequate liability insurance to pay for the other party’s property and personal injury damages if you cause an accident with them.
The only way to protect yourself from getting nothing if you get into an accident with a driver who does not have liability insurance is to have UM/UIM coverage.
Continue reading to learn more about UM/UIM coverage.
Why You Should Add UM/UIM Coverage to Your Auto Policy
Auto insurance plans are actually made up of several smaller policies. One of the policies that can make up your full plan is called UM/UIM coverage.
UM/UIM coverage is short for uninsured motorist/underinsured motorist coverage. It is used when the at-fault driver in an accident has no liability insurance (is uninsured) or not enough liability insurance (underinsured).
UM/UIM coverage covers personal injury expenses only. Unfortunately, UMPD or uninsured motorist property damage coverage, which would cover property damages in the same situation, is not offered in Arizona. On the other hand, you can choose to purchase collision coverage, which will take care of these charges.
It’s possible that, within your plan, you have UM/UIM coverage already. But if you don’t, it’s worth looking into. It can save you up to hundreds of thousands of dollars (or more) in the long run. Furthermore, it generally only costs a few extra dollars a month on your premiums.
Contrary to what you might have thought in the past, UM/UIM coverage benefits the policyholder (you). It does not benefit drivers without insurance. Again, that’s your liability insurance, which pays for property damage and medical bills/lost wages after an accident you cause.
UM/UIM Coverage in Arizona
Auto insurance requirements vary by state. In many states, UM coverage is required. In some states, UM and UIM coverage is required. And in other stands, neither type of insurance is required.
The latter is the case in Arizona:
In Arizona, UM/UIM coverage is not required.
But should you have UM/UIM coverage anyway?
Yes, according to most legal professionals.
The Benefits of UM/UIM Coverage
Only UM/UIM coverage can pay for personal injury expenses you require after an accident.
It’s clear to see that a terrible vehicle accident you didn’t cause may result in serious injuries. Down the line, these injuries may require you to undergo surgery, physical therapy, and/or ongoing medications. Furthermore, you may need to take time off from work or quit your job altogether. Sadly, much pain and suffering may be coupled with such an accident.
If you do not have UM/UIM coverage, you are liable for these medical expenses, which can quickly mount to hundreds of thousands of dollars.
It goes without saying that the party who should be paying for these expenses (the uninsured or underinsured driver) shouldn’t be left off the hook so easily. And in large part, they won’t be.
They’ll incur serious fines, have their vehicle towed and impounded, and will probably face additional legal ramifications, like having their license taken away. Still, even if the state decides to garnish their wages on your behalf, or if you decide to take them to court, it’s unlikely you’ll get anywhere near the amount of funds you need to pay for your medical bills.
Again, in this case, only UM/UIM coverage can help.
Considering adding UM/UIM coverage to your auto plan? Talk to our experts at Maki Insurance Anthem today.