The chart above is from the Insurance Research Council. While Massachusetts is in the 0-8% range of uninsured motorists on the roads, neighboring states like New Hampshire (9-11%) and Rhode Island (15-26%) have many more uninsured drivers.
These numbers however, do not include UNDERinsured motorists—motorists choosing state minimum coverage policies with low limits, in order to maximize their savings. While this is all well and good for one’s budget, many times underinsured drivers run the same risks as those who do not have auto insurance at all. Meaning that even if one is technically “insured”, these cheaper seemingly cost effective policies fall short when an accident occurs. If you are hit by an underinsured driver, their limited insurance is typically not enough to cover the damage—and all that money saved on a cheaper policy is being paid out twofold. Returning to our figure, adding underinsured motorist numbers to the uninsured would double and in some cases triple the State percentages noted above.
How do you protect yourself and your family against these drivers? The answer is simple; check your own auto policy. Your own personal policy has uninsured and underinsured coverage sections, allowing you to purchase insurance specifically designed to protect against the un and under insured. In the event of an accident where the other party is at fault, and they do not have enough (or any) coverage, you can collect damages from your own policy up to the limits stated.
We at Mid-State recommend purchasing uninsured/underinsured motorist coverage that matches your Bodily Injury policy limit. This way you are assured that whether you hit someone or they hit you, you know you and your family have access to the same protection regardless of what the other driver carried for insurance.
Need help or first time choosing auto-coverage? We're happy to assist! Just use any of our resourses below, or send us your questions:
- Insurance Quiz
- Things to Consider When Choosing a Home\Automotive Policy
- What Are Limits? 3 Reasons why Liability Limits are Crucial on your Home/Automotive Policy