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OAI Outlines Differences Between UM and UIM Auto Insurance Coverages


An analysis of rates from 13 California insurers show that uninsured motorist insurance can add significant protection for a small cost.

Los Angeles, CA, April 04, 2011 --(PR.com)-- In a new FAQ from OnlineAutoInsurance.com, the writers explain key differences in uninsured motorist (UM) and underinsured motorist (UIM) coverages. A handful of states require drivers to purchase these car insurance coverages, others require that they be included in a policy unless the purchaser opts out in writing, and others treat them as totally optional coverage types.

UM policies insure policyholders for any bodily injury damages they may incur from an accident with an uninsured or hit-and-run driver. If a policyholder opts to not purchase the coverage and gets injured in an accident caused by a motorist without insurance, getting compensated for damages could be impossible.

It has been estimated that more than 16 percent of drivers nationally lack coverage.

Source: http://www.ircweb.org/news/IRC_UM_012109.pdf

On the other hand, UIM coverage will kick in when a driver who causes an accident lacks adequate levels of insurance to cover the other parties’ damages.

Despite the high levels of protection uninsured and underinsured motorist coverage usually provide, it generally turns out to be a relatively low-cost coverage type.

A California auto insurance quotes comparison for a 25-year-old single male driver who lives in Los Angeles, has no accidents or violations and drives a 2009 Honda Civic shows that adding 100/300 UM coverage per accident to a basic 15/30/5 liability policy would not cause an astronomical spike in premiums. An analysis of rates from 13 California insurers showed an average increase of 16 percent – or $138 – to annual premiums in that state. The monetary increase was as low as $68 and as high as $264.

The 100/300 denotation means the policy would cover damages up to $100,000 for one person and $300,000 per accident.

To learn more about this and other insurance issues, readers can go to http://www.onlineautoinsurance.com/quotes/ where visitors will find informative resource pages and a quote-comparison generator that can jumpstart the search for the best prices for a policy.

To access the full FAQ, readers can follow the “Questions” link located at the top of any page on the site.

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Contact Information
Online Auto Insurance
Benjamin Zitney
909-784-2475
Contact
http://www.onlineautoinsurance.com/

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