What is uninsured and underinsured coverage about

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Justin: You know that that’s how it used to be something that would just be included and they’d bill you. Now a lot of insurance companies are kind of carving this out and you have to go find it and add it onto your policy. So make sure you have it because this is the coverage that you have when, um, if, so if you are hit by someone who does not have auto insurance, you look to your own insurance to, uh, to go for your pain and suffering damages. So it’s extraordinarily important to have that because otherwise you’re just out of luck. And recently these have been a, it used to be, like we said, you just added these out, you got your policy and this was just something that was included with your regular pip benefits. You got uninsured motorists, you got under insured motorist. All of these were in there. But now what we’re seeing is I’m seeing clients who come in and they’re, they’re paying three, $400 a month and they don’t, they don’t have underinsured or uninsured motorist coverage. So I went to the website where they got it because it’s the same company over and over and over. And then I found out why people aren’t getting it because it’s not included in the price. You have to go out of your way and add it on Actually it’s only a few bucks a month

Brian: and it’s not obvious where you go to click the button to say add that and find it. And the other thing is just that a lot of times people will protect their assets, their thinking hard assets, uh, by getting say $500,000 or $1 million or $300,000 on insurance coverage. And if they have uninsured and underinsured motorist coverage, it’s 20, 40, or it’s, you know, something less than that. What about that? Why, why is that important?

New Speaker: Well, I mean the, it’s important to have it because if you’re out and you need your pain and suffering, your money damages for this accident, it has to be there. If it’s 20, 40, that’s all you’re getting. You’re getting $20,000. And you know, it seems like a lot of money. But when you’re in a severe, uh, accident, you’re not working for, you know, two, three, four or five years, you kind of need that money in the, it’s not that much money. It’s a few dollars extra to add these things onto your policy. It’s, it’s minimal amount for them. It’s probably the best bang for your buck that you can get.

Brian: Yup. And in the case of the new legit legislation where if, uh, if you have a, if you have medical coverage that is not significant enough, or if you have a need to make a claim for more than just pain and suffering, you’ll have that under insured motorist coverage or uninsured motorist coverage in case you get hit by somebody that doesn’t have that coverage for you.

Justin: Yup. There’s no reason to, to skip out on it if you’re going to, you got to pay it no matter what. So you might as well get something that’s gonna actually help you when you need it. Cause that’s what insurance is for, right. If something goes wrong, everyone thinks it’s not going to, but you know what it does. And if it’s going to, you might as well have the best coverage that you can get.