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Many people ask What is Uninsured Motorist Insurance In St Louis City MO? Our insurance agents at MJM Insurance® of St Louis City are ready to help! It is not an easy task to understand all of the issues involved in making a decision about what car insurance policy and features are best for you. Buying just any policy without fully understanding your risk and coverage needs could be a very costly mistake. It does not cost more to have our professional assistance—we are likely to find the best coverage to meet your needs for a lower cost by shopping many top-rated companies.
An uninsured motorist clause is an additional clause in an auto insurance policy that provides for a driver to receive damages for any injury he or she receives from another uninsured driver who fails to maintain the proper insurance coverage by not having insurance coverage. So, if you get into an accident and the other driver does not have insurance, your policy will pay for damages for you and your passengers up to the limits outlined in your policy. In the event of an accident, uninsured motorist bodily injury insurance will cover you and your passengers for medical expenses pain and suffering or lost wages.
Missouri law requires every driver to have uninsured motorist coverage of at least $25,000 per person for bodily injury, $50,000 per accident for bodily injury and $10,000 per accident for property. If you do not have enough insurance, you could possibly be affected by a financial loss if the other driver does not have insurance. In the event of a qualifying accident, the insurance company pays the difference between what the uninsured driver can pay and what the injured driver would be entitled to as if the uninsured motorist had proper insurance.
In addition to paying for damages to your vehicle, uninsured motorist property damage coverage may also cover damage to other personal property. Examples of personal property that may be covered when damaged include your house, your fence, or other personal items, such as your laptop or cell phone. MJM Insurance® of St Louis City can offer personal advice about product availability in Missouri and how much coverage is right for you.
If your insurance company pays a claim under your policy, they will go after the other driver to collect the damages that were paid to you. Bear in mind, making a claim under your policy causes you to become a third party to your own insurance company. You will be reimbursed for your accident claim as if you were a third party and this could put you in opposition to your insurance provider.
An Uninsured Motorists study revealed that $2.6 billion was paid in the U.S. on 2012 uninsured motorists claims. Despite the declining trend in uninsured rates over the last decade, the total claim payment amount is up 75% over the last 10 years and translated to $14 per insured individual in 2012.
If you decide to purchase UM coverage, you’ll need to select the limits that are right for you. The agents of MJM Insurance® of St Louis City can help you review your assets and determine what coverages will best meet your needs. When you consider your desired coverage amounts for uninsured motorist bodily injury coverage, we can help you understand how these limits work. Contact us today – we are happy to help!