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What’s Underinsured and Uninsured Motorist Coverage?

Having underinsured and uninsured motorist coverage is required in South Carolina. Underinsured motorist coverage helps when the other driver has some insurance, but not enough to pay for all expenses of the accident. Uninsured motorist coverage comes into play when the other driver has no auto insurance at the time of an accident or if you are the victim of a hit-and-run. At the end of 2019, the average number of drivers in the United States without auto insurance was 13%.

Picture yourself driving down the road at about 45 mph. You stop as the car two ahead of you has come to a complete stop, waiting to turn left.  All of a sudden, the car behind you plows into you, causing you to hit the car in front of you, and that car runs into the car waiting to turn.  You are injured and your car suffers a lot of damage.  The driver who causes the accident has little or no insurance. Who is going to pay for your injuries and the damage to your car?

Outpatient surgery can be very expensive, much less a serious injury. In addition, the cost to repair or replace an automobile has skyrocketed, given the value of vehicles today and the many features that now come standard. This is why 99.9% of our clients have the same limits for uninsured and underinsured motorists coverage as they do for their liability limits.

“Uninsured and underinsured motorists coverage is some of the most important coverage we can purchase to protect our families. Out of the 58 years we have been in business, three of our biggest insurance payouts were underinsured motorist claims from personal auto policies.  Of those, one was a pedestrian loss and the other was a young driver that was hit head-on by someone who crossed the center line,” said Ross Turner, president of The Turner Agency.

Turner estimates that of the 88% of people with insurance in South Carolina, 65-70% are likely carrying minimum limits. This compounds the need for keeping good uninsured and underinsured motorist limits.  Now is a good time to review your limits with your account manager to be sure you are where you need to be. Please email us or call us at 864-288-9513.