Why you must have uninsured motorist insurance
Why do you need uninsured motorist coverage?
We hope it never happens, but unfortunately, cyclists can often be seriously injured by drivers who don’t have insurance or who only have minimal coverage. In some states, the minimum liability insurance required by law is as low as $10,000, which may not be enough to cover serious injuries. Additionally, there are cases where the driver cannot be identified, such as in a hit-and-run accident.
In these situations, your uninsured motorist (UM) coverage can help pay for your medical expenses and other damages when the at-fault driver doesn’t have enough insurance or isn’t identifiable. It’s an important part of your protection on the road.
How it works
Let’s say you have $100,000 in UM coverage on your auto policy. If you’re involved in an accident with a driver who only has $10,000 in bodily injury liability coverage, your UM coverage can step in to cover the remaining costs after the other driver’s insurance pays up to their limit. That means you could recover $90,000 from your own policy, effectively filling the gap left by the underinsured driver.
However, if your UM coverage is only $10,000, you won’t be able to make a claim because the two policies can’t be combined. Importantly, filing a UM claim won’t increase your auto insurance premiums, since this coverage is meant to protect you from the fault of another driver.
UM coverage is typically one of the most affordable parts of your auto insurance. At Velosurance, we always recommend purchasing the highest UM limits you can afford. Your UM coverage could be your only source of compensation in the event of an accident, especially if the at-fault driver has no insurance or insufficient coverage.
In some states, you don’t even need to own a car to benefit from UM coverage. If you're a household resident and are listed as an additional insured on a family member’s or household member’s auto policy that includes UM coverage, you can still receive protection.
To file a claim under your UM insurance, a few conditions must be met:
- There must be direct contact between you and the vehicle.
- The vehicle must be determined to be at fault for the accident.
- A police report must be filed.
If these requirements are met, your UM coverage can provide critical financial support when you need it most.
Looking for reliable bicycle insurance? Get a free, instant quote today and see why Velosurance is trusted by cyclists across America.
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