Auto Insurance Online and You

What is uninsured motorist insurance and medical coverage and how do they affect you? Quite simply uninsured motorist insurance protection means in the event of a serious accident where the other party is not insured, your assets and property are covered. Why is this important? Much as we would like to think all drivers are law-abiding citizens, sadly this is not the case. Even in States, Colorado for instance, where coverage is mandatory a lapse in coverage due to a chance in employment status or other unfortunate occurrences can be disastrous. There are heavy fines and penalties attached to driving without auto insurance. It is estimated that 14% of all drivers have no auto insurance coverage (personally I think this percentage is lower than the actual figure). In the event you are in an accident with a driver that falls within that 14% and you are injured, the end result is that you will NOT be reimbursed unless you have uninsured/underinsured motorist coverage. So it’s definitely important to recognize the importance of being proactive in protecting yourself as well as your assets.

Unlike medical coverage which deals specifically with personal injury, uninsured and underinsured motorist coverage will compensate you for out-of-pocket expenses related to injuries as well as your pain and suffering. When you get down to it, no person has the same idea of what constitutes pain and suffering.

As far as the identification of how much uninsured and underinsured motorist coverage you need, consider that it should equal the same limits as your liability coverage. So in the State of Colorado, the minimum would be $25,000/$50,000/$15,000. $50,000 total for all parties involved in a serious auto accident for personal injury liability is much too low although it does meet the minimum state requirements.

With medical payments coverage it is quite simple to figure out the most cost-effective way to protect your assets: if you have good health coverage, you don’t need PIP (Personal Injury Protection) it is a redundancy. The health coverage you have will cover treatment (or should at any rate) for injuries resulting from a car accident and will more than likely cover more than a PIP Policy would with the same diagnoses. PIP is limited in its scope. This is where the importance of due diligence comes into play. Colorado is not a state who mandatorily requires PIP coverage.

Having this knowledge before begin search for online auto insurance quotes expedites your quest for the best coverage for your circumstances. If you are not likely to need or utilize it, do not purchase it. Concentrate on increasing your liability and uninsured and underinsured coverage instead. This is where the greatest potential for judgments and lawsuits fall within and where the greatest potential vulnerability for your personal assets lies. No one plans to get into a serious auto accident. But being aware of the types of coverage and what you need to maximize your personal protection requires some investigating and a lot of patience.