Drivers all the United States buy insurance to shield themselves against financial loss caused by loss or damage to property in case of an eventuality occurring. Law in all US states demand that motorists carry some sort of insurance cover in case there is an accident. The uninsured motorist property damage insurance cover protects a driver who may be hit by a negligent driver without insurance. This coverage allows the driver to claim for compensation to damages to their vehicle.
What is Under insured motorist insurance?
Additionally, there is the under-insured motorist insurance, which is an entirely different plan that protects the driver if they are hit by a negligent driver who doesn’t have adequate car insurance to take care of damages or injuries caused. If an individual with a low or minimum limit crashes into a luxury car resulting to high repair costs, this coverage can be used to cater for the repairs. When the policy limits of the negligent driver have been reached, the luxury car owner can then file the claim under his under-insured cover to foot the repair costs.
What is uninsured motorist liability coverage?
There is another type of insurance plan that works together with the uninsured-motorist property damage. This is the uninsured-motorist-liability. This liability coverage takes care of bodily injury rather than property damage. This means that the uninsured motorist liability cover pays for medical expenses from injuries suffered by the insured person and their passengers if any. The insured person may also make a claim under the uninsured motorist liability if he/she is hit as a cyclist or pedestrian by a driver who is not insured.
What is Collision Coverage
A driver may be necessitated to file a collision claim in case uninsured motorist property damage insurance cover isn’t available. This claim can also be filed in cases where the cover was not included in the auto insurance policy. This type of insurance cover pays for the damage not considering who caused the accident. With the collision coverage come deductibles and coverage limits. You are, however, allowed freedom to set your own limit and deductible.
The process of filing the claim
An eventuality causing property damage or bodily injury requires you to make claim compensation from your respective insurance company. You are required to contact your insurance company’s claim’s department so as to make a formal notification. You are also required to explain the how the accident happened. This enables you to launch a claim so that you will be able to take of the vehicle repairs and injuries. Arm yourself with the necessary information before making the claim. They will request to know whether police reports were filed or whether tickets were handed out. They will also want to know whether the insured party is being treated.
Three benefits of uninsured motorist property damage insurance cover
In the insurance world, there are so many insurance coverage options to choose from. People do not purchase these optional add-ons either because they don’t understand them or simply because they are unaware that they even exist. Auto insurance aims at protecting the insured against financial loss due to a car accident. The cost of your auto insurance policy will depend on the number of add-ons you buy. Uninsured motorist property damage insurance cover is one such add-on. When you are covered under the liability insurance coverage, you are protected against financial loss if you are involved in a motor vehicle accident that finds you at fault. The liability coverage pays for damages and loss caused to the other person’s property. It also pays for their medical expenses in case of injuries. The insurance cover will also pay claims filed by third parties involved in the incident. If you were not at fault and the accident was someone else’s fault, the damage is paid by their liability insurance coverage. Many people hence would argue that the uninsured motorist property damage insurance cover is not useful at all. Many of these people forget the major benefit of the uninsured motorist property damage insurance cover which it to protect the driver against damage caused by another driver who doesn’t carry enough insurance. Without the uninsured motorist property-damage insurance cover, you might be forced to pay for damage and losses out of your own pockets even if you weren’t at fault. Damage to property here is not limited to the vehicle only but extended to your fence, home or any of your other structures. You might argue that your home insurance policy will cover such losses. This will, however, require that you pay a deductible. Subsequently, your premiums will rise. In most cases, filing a claim requires that you part with some amount in the name of a deductible. In similar style, filing a claim might affect your auto insurance rates. This is usually the case where there is physical damage covers such as the comprehensive and collision. In some states in the US, the moment you buy uninsured motorist property damage insurance cover, it acts as your deductible for the collision coverage. This allows you to save more money in terms of deductibles. Keep in mind that a higher deductible will result in lower auto insurance premiums. Also, remember that whenever you file a claim, you must be in a position to provide the deductible. It would be sad if you do not already have uninsured property damage cover on your auto insurance policy. If you don’t have this type of coverage, contact your insurer and ask them to outline the benefits and the premiums involved.