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How uninsured motorist protection works

On Behalf of | Mar 22, 2022 | Motor Vehicle Accidents |

Drivers are required to have insurance in St. Paul, Minnesota, but many still drive without it. Statistics show one out of eight drivers didn’t carry insurance in 2019. Even with low odds, having uninsured motorist protection is a wise investment.

Uninsured motorist protection overview

Uninsured motorist protection pays when a driver gets involved in an accident where the at-fault driver has no coverage. Some states require uninsured and underinsured motorists coverage, but others make it optional, including Mississippi.

If drivers buy this coverage, the minimum amounts required are $25,000 per person, $50,000 per accident, and $25,000 for property damage. UM commonly includes bodily injury, or UMBI, which covers medical expenses, funeral expenses, pain and suffering, and lost wages. The second part of UM includes property damage or UMPD.

Underinsured motorist protection fills in the gaps when an at-fault driver doesn’t have enough coverage. Their insurance covers the accident up to the policy limit, and underinsured motorist protection fills in the gap. Mississippi also allows stacked UM, which means coverage for multiple vehicles on the same policy or separate policies.

Reasons to buy UM coverage

While UM in Mississippi isn’t required, stats show one out of four drivers don’t have coverage in the state. The odds seem small, but it is equal to a 24% chance of an accident. Statistics also show over 682,000 hit-and-run accidents occur annually in the United States, and some providers cover them.

Health insurance policies may pay for injuries after an auto accident, but coverage is commonly limited. It doesn’t cover lost wages or pain and suffering, and it requires a deductible, which UMBI does not.

The cost of adding UM is commonly not much higher and can save thousands of dollars in repairs and medical bills. While injured parties may sue uninsured drivers, many of these drivers lack the assets to pursue a case.