As car owners, it’s our obligation as a responsible driver (as well as legally required of us) to obtain car insurance. While it can be a pain to pay the premiums, it is worth it in the event that you are involved in a car accident as it helps cover expenses when there is damage to another driver and/or vehicle. The ideal car accident scenario would be that you and the other driver would both have insurance and the process of repairing damages would move smoothly. But what happens if the other driver does not have coverage or you’re involved in an accident in which the other driver speeds off?
Typically, in these situations there is a bill that someone has to pay and that someone ends up being you, unless, however, you have Uninsured Motorist coverage (UM). This coverage helps you recoup any damages you personally may have suffered in the event the other driver is not insured or if it is a hit-and-run accident. Unfortunately, having UM coverage in the state of Kentucky is optional meaning people have the opportunity to forego this coverage. Most people who are already paying a premium for their regular car insurance aren’t too keen on shelling out more money for something that is optional, despite the fact that it could be greatly beneficial in the future. Others are under the impression that UM coverage will cover the expenses and damages suffered by another driver if that person does not have coverage. However, that is not the case as that is what your liability car insurance is for. UM coverage instead protects you and pays for your damages when the other driver is not able to. In my three years as an attorney I have seen cases where people are seeking compensation for damages or injuries to themselves but can’t receive the money because they declined UM coverage and the other driver either cannot pay or is unknown.
Despite the fact that it is illegal to operate a vehicle without car insurance, there are many out there that break the law. According to the Insurance Research Council, 13% of motorists, or 1 in 8 drivers, were uninsured in 2015 and that the percentage is increasing, meaning your odds of being hit by an uninsured driver are getting higher and higher. With the number of uninsured motorists rising it is becoming more imperative to obtain Uninsured Motorist coverage. Without it, you will end up paying out of pocket for damages you didn’t cause. You pay to protect other drivers for damages they may sustain from you in an accident, so why not extend that same coverage to yourself against uninsured drivers?
https://www.iii.org/fact-statistic/facts-statistics-uninsured-motorists–> source for % of UI drivers
If you’ve been in an accident and would like to speak to an Attorney?
Call Scott Harper at 502-780-2226.
Initial consultations are free.