It should be illegal for Insurance Companies to NOT include these coverages for YOU!
Let’s talk for a minute about Insurance. If you are in a Phoenix Arizona Car Accident, Insurance companies are quick to deny coverage when you do not carry Underinsured or Uninsured coverage (UIM/UI). In Arizona, a high percentage of people drive without basic insurance. If you only carry minimums on your policy, and are in an accident with someone who has no insurance, you’re left with only one option to recover from the person who caused the accident.
You have to sue them. Most times, people without insurance coverage at all don’t have any tangible assets to recover even after a lawsuit. Because of this, you will likely be left with nothing – nothing to repair your vehicle; nothing to compensate you for your injuries; and nothing to compensate you for lost wages.
We cannot stress this enough: This is a VERY important piece of information.
Most people try to skimp and save whatever they can on their auto insurance. This is a mistake. You have NO – ZERO, ZILCH, NADA – control over what OTHER drivers do. Why then, would you choose to decline Underinsured and Uninsured coverage? These are your ONLY protection against another driver having minimum or no insurance.
UIM is much cheaper than standard bodily injury and property damage insurance. Based on sample quotes for a 34-year-old married man, premiums for a $25,000/$50,000 policy range from $33–$76 per year. For a policy with four times the coverage — limits of $100,000/$300,000 — the premium only cost between $86–$134 per year.
REMEMBER If you’re in an accident, and it’s not your fault, but the other driver has no insurance and you’ve foregone UIM or underinsured, you are going to likely recover NOTHING. Why? because the person who chose to drive with no insurance will likely have minimal assets or no real assets to chase. It is common sense. PLEASE PLEASE PLEASE PLEASE save yourself the headache. For approximately $5 per month, you could cover your bacon!!!