Did you know that three out of every seven
vehicles on the road are putting you and your business at risk? Statistics show that one
in seven drivers on the road are driving without any auto insurance, while two more of those
drivers are driving underinsured with state-mandated minimum coverage! This means that nearly a
third of all drivers on the road will be unable to pay what they’re responsible for should
they cause a serious accident. Their negligence could cost you! Let’s assume you and your
employees are responsibly (and legally) driving with the appropriate insurance coverages for
Liability, which provides you protection when you’re at-fault in an automobile accident
because you’ve injured someone else or caused damage to their property. Coverage for Damage
to your Own vehicle (aka Comprehensive and Collision coverage) which helps pay for the
damages you or your employees cause to your own vehicle in an accident. And Medical Payments
Coverage which provides you protection to pay for any medical expenses you or the passengers
in your own vehicle sustain in an accident. BUT, if you’re
involved in an accident with a person who doesn’t carry liability insurance. or has
minimal coverage, you’ll likely have to pay out of your own pocket for your medical
bills or your work comp policy will need to respond, even if the accident wasn’t your
fault! An important way you can protect yourself
and your business is to add Uninsured Motorists coverage to your auto policy. UM coverage
pays damages for bodily injury (and in some states property damage) that result from an
accident caused by a person who doesn’t carry insurance or from a hit and run driver.
In addition to the problem of uninsured vehicles, remember that two out of every seven drivers
on the road purchase bare bones insurance policies to save money. After all, most states only require
minimum coverage limits, which are quite low. What if one of those drivers causes a serious accident and injures you
or one of your employees? Their $25,000 in coverage will likely not be enough to pay the medical bills. By purchasing Underinsured Motorists (UIM) coverage, which is available
in most states, you won’t be left holding the bill. To learn more about UM and UIM coverages,
and to make sure you and your vehicles are properly protected, contact your independent
agent today!