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OnlineAutoInsurance.com Discusses Value of Uninsured Motorist Coverage


In a new FAQ, OnlineAutoInsurance's writers discuss whether states require uninsured motorist auto insurance and what this type of coverage protects against.

Rancho Cucamonga, CA, November 08, 2010 --(PR.com)-- Despite most states’ requirement that drivers must carry car insurance in order to driver legally, a sizable amount still hit the road without coverage.

Historically, fluctuations in the national rate of uninsured drivers have appeared to correlate with the rise and fall of the nation’s unemployment rate. Since the national average unemployment rate spiked sharply between 2008 and 2009, and since the average has increased slightly from 2009 to the present, industry experts project that the uninsured motorist rate has also risen.

In light of this information, consumers may want now more than ever to consider adding uninsured motorist protection to a policy, especially since this is a relatively inexpensive auto insurance coverage type. Drivers living in tort states who have minimum-level basic liability policies may end up having no protection in the event of an accident with a person who lacks insurance.

Whether a motorist is required to get protection against uncovered drivers is dependent on state law — some states require it, some require all policies to provide such protection unless explicitly waived in writing by the policyholder, and other states consider it a totally optional type of coverage.

The national unemployment rate is estimated to have been 5.8 percent in 2008, with that number jumping up to 9.3 percent in 2009.

Source: http://www.bls.gov/cps/cpsaat1.pdf

Considering the relationship the two rates have displayed in the past, the proportion of uninsured motorists is projected to have correspondingly risen from about 14.5 percent in 2008 to about 17.5 percent in 2009, according to a recent presentation from the Insurance Information Institute’s senior vice president and chief economist.

To access the full FAQ, readers can go to http://www.onlineautoinsurance.com/ where visitors will also be able to get free rate estimates from a variety of carriers by using the quote-comparison generator.

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Contact Information
Online Auto Insurance
Benjamin Zitney
909-784-2471
Contact
http://www.onlineautoinsurance.com/

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