Make Sure You are CoveredMore than 50% of people driving on the road today only carry this minimal insurance policy and some may not have any insurance at all, meaning they are driving illegally. Approximately 23% of drivers are on the road without any insurance at all, and the number is rising. Preparing yourself with adequate insurance coverage is the most important thing you can do to protect yourself in the event of an accident with an uninsured driver. You should look into purchasing:
- Gap Insurance – If you have a car note or loan on your vehicle, you might be upside down on the value. In other words, you owe more than the car is worth. If this is the case and you have an accident, you might not receive enough to fix the car or to buy a new one.
- Personal Injury Protection (PIP) – PIP coverage can be used to pay for lost wages and medical bills. If you are taken to the emergency room after a car accident, you can use up all of your PIP protection benefits in that one visit.
- Medical Payment Coverage (MedPay) – This coverage can be used to pay for medical bills and prescription drug coverage. MedPay coverage can be used to pay for medical bills that your PIP coverage didn’t pay.
- Uninsured/Underinsured Motorist Coverage (UM/UIM) - This will protect you in the event the person who hits you does not have insurance. This will also protect you in case the person who hits you doesn’t have enough insurance.