This coverage pays for the insured’s injuries and any property damage caused by an uninsured motorist, including a hit-and-run. Uninsured motorist coverage is an integral element of commercial vehicle insurance policy because it helps the insured pay for all medical bills or repair expenses if the insured’s vehicle is hit by a driver who does not have any automobile insurance.
In most cases, when an insured is in an accident and the other driver is the one at fault, his or her insurance provider will help pay for the insured’s medical bills or cost of vehicle repair. However, if in case the at-fault driver is not covered by an automobile insurance, the uninsured motorist coverage will pay for any expenses incurred because of the accident.
What Does Uninsured Motorist Insurance Cover?
There are two types of protection the uninsured motorist coverage offer: uninsured motorist bodily injury coverage and uninsured motorist property damage coverage.
- Uninsured motorist bodily injury coverage helps cover any medical costs resulting from an accident caused by an uninsured driver. For some states in the US, this type of protection can include a member of the family driving the insured’s car, or even the passenger.
- Uninsured motorist property damage coverage covers the cost of repair of an insured’s commercial vehicle if it has been damaged after an accident caused by a driver who has no car insurance. However, this type of policy is not accessible in all states in the US.
Do You Need Uninsured Motorist Coverage?
Deciding on whether or not to get the uninsured motorist coverage somehow depends on the state you currently live in. There are 21 states in the US and the District of Columbia that make it compulsory for business owners to have this type of insurance.
If you consider to be covered by this policy anyway, let it be for the following reasons:
- Your state has an alarming number of motorists with no insurance
- The minimum liability coverage in your state is remarkably low and you own a high-value vehicle.
- You want to be protected from hit-and-run drivers.
- You want the get the protection against being hit by a vehicle as a pedestrian (this may also be covered by the uninsured and underinsured motorist coverage policy).