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Uninsured motorist insurance is insurance to cover precisely that. There are always people who think the odds of accidents are long enough that they can skip on auto insurance. When they do get into an accident, they likely won't have the means to pay for damages or injuries. That's when uninsured motorist insurance comes into play.

An uninsured motorist is a driver who does not have any insurance and does not possess the financial means to pay for damages/injuries, or whose insurance does not meet state-mandated minimum liability requirements, or whose insurance company denied their claim. Hit-and-run drivers are covered under uninsured motorist insurance.

Uninsured motorist insurance is fairly cheap to add onto your insurance policy. It could cover medical bills, lost wages, and pain and suffering.

Stacked uninsured motorist coverage is when you purchase uninsured motorist coverage for every car listed on the policy.

If you are involved in a light accident with an uninsured motorist, it is advised that you file a claim immediately. Should you settle the account with the uninsured motorist privately, you no longer qualify to file for uninsured motorist insurance.

Uninsured motorist insurance will usually come with a maximum limit. It is significant to understand, however, that this cap includes what the at-fault party was able to pay. If the at-fault party was underinsured and their insurance paid off some of the liability, the amount your uninsured motorist insurance will cover is only the remaining amount between what was paid and the limit on your policy. This means that the limit includes what the other party is able to pay. This is generally not a concern because uninsured motorist coverage usually provides a fairly high limit.

Uninsured motorist property damage coverage is something separate, and usually cannot be purchased without uninsured motorist insurance. A lower deductible for uninsured motorist property damage is frequently cheaper than collision coverage, but it does not apply in hit-and-run situations because it is cheaper. You do not need this if you already have a solid collision coverage policy.

Uninsured motorist bodily injury may seem redundant if you have health or medical coverage. However, health or medical coverage will not compensate for lost wages if you are unable to go to work. This coverage can cover medical expenses and lost wages.

In an event where you have to file a claim for an uninsured motorist, you may have to seek the aid of an attorney. Some insurance companies will seek to reduce or deny your claim, particularly if the at-fault party was underinsured. Arbitration is another recourse.

Arbitration calls for 3 arbiters: one paid by you, one paid by the insurance company, and the third is split. Keep in mind, however, that an arbiter's decision carries legal finality.

Most states do not mandate uninsured motorist insurance. Uninsured motorist insurance cannot exceed your liability limits, but it must meet state minimums. The requirements vary significantly from state to state, so be sure to check your local requirements.

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