Uninsured/Underinsured Motorist Coverage: Why Buy It?

Remember the last time a friend or colleague was in a car accident? After making sure they were okay, what was the first question you asked? Making an educated guess, I’m going to say it was “Did they have insurance?!”

According to journalist Terrence Stutz, Dallas County was once again atop the State’s riskiest for drivers in large urban counties. In an article published in August 2014, Mr. Stutz cites figures from the Texas Department of Insurance indicating that “1 in 6 Dallas County drivers—more than 16 percent—have no insurance despite requirements for minimum coverage. “

This statistic alone is all the data necessary to make a compelling case that everyone should protect himself/herself with uninsured motorist coverage. My supposition is that the stated number of 1 in 6 is likely low. In my career, I have seen many incidents in which a responsible driver had “evidence of insurance” (i.e. an insurance card), but in reality, the policy had been cancelled. Oftentimes, people will get insurance so they can register their cars or renew licenses, and then they let such insurance lapse almost immediately.

Another way in which the statistics are likely skewed is that there is no good way to track the number of undocumented aliens who are driving our roads. I am confident that those numbers are staggering. What is the conclusion? We need to protect ourselves.  CLICK HERE FOR FULL ARTICLE