David Greene from Greene and Phillips Law Firm stopped by Studio10 with important information you need to know about Uninsured Motorist Insurance coverage. Below are some of the questions and answers they discussed on the show.
What is Uninsured Motorist Insurance coverage?
Uninsured motorist coverage is a component of your auto insurance policy that is not required by state law. Uninsured Motorist (UM) covers your vehicle damage and injury costs if you are hit by someone without insurance. Underinsured Motorist (UIM) covers you if you are hit by someone who may have insurance, but not enough to cover your property damage or injury expenses.
Why would someone not have Uninsured Motorist coverage?
Sometimes if they are trying to save money they may waive their UIM component. Insurance agents sometimes don't explain it well.
Is UIM and UM coverage expensive?
UIM/UM coverage is some of the most inexpensive insurance you can buy. Depending on your policy many times it justs costs you an additional $15-20 every six months.
Why is it so important to have Uninsured Motorist coverage on your policy?
Alabama law requires every driver to have at least $25,000 in liability coverage. That is so if you hit someone, your insurance will pay up to $25,000 toward the injury or property damage of the vehicle or person you hit. Unfortunately many people do not have insurance. A recent study showed that one in four vehicles are not insured. If one of them hits you and causes damage, you will be stuck with the bill. Also, we see so many times where injury costs and vehicle damage total more than $25,000. Cars and trucks are heavy and can do tremendous damage quickly. You may get hit by a vehicle that has the alabama minimum, but that may not be enough to cover your hospital bills.
In instances where someone is in a wreck does uninsured motorist coverage help?
Yes, UM coverage would then step in and pay for the balance of the cost up to the total amount of your own policy.
Does Uninsured Motorist cover you if you get hit while you are walking or biking?
It depends on your policy and who it's with. Many insurance policies cover you as a pedestrian but not all of them. That's one thing you should double check on your own policy.
How much Uninsured Motorist Coverage should you have?
You should always have as much Uninsured Motorist coverage as you do liability insurance.
If someone has questions about their coverage, they can contact Greene & Phillips?
Of course they can come by any time and I'll sit down and go over their policy with them.
Greene & Phillips
50 North Florida Street
Mobile, AL 36607
Sponsored by: Greene & Phillips
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