To protect yourself financially against damage or injury from an uninsured (UM) or underinsured motorist (UIM), you must buy adequate amounts of UM/UIM coverage, according to the Insurance Information Institute.

A new study by the Insurance Research Council indicates that there is a strong correlation between the percentage of uninsured motorists and the unemployment rate. Based on current unemployment rate projections, the Insurance Research Council forecasts that the percentage of uninsured motorists will likely rise from 13.8 percent in 2008 to 16.1 percent in 2010.

“Most people don’t think about the uninsured or underinsured motorist coverage portion of their auto insurance policy until they are the victim of a hit and run accident, or are involved in a crash with a driver who either does not have auto insurance or has very minimal insurance,” pointed out Jeanne M. Salvatore, senior vice president and consumer spokesperson for the Insurance Information Institute.

Uninsured/underinsured motorist coverage provides a very important financial safety net for drivers and their passengers. It even provides protection if you are hit by a car as a pedestrian. UM/UIM coverage is an optional coverage but is one that should NEVER be rejected on your automobile policy.

“Consumers should consider purchasing the same amount of uninsured/underinsured motorist coverage that they purchase for their liability to others,” Salvatore stated. “This will help to make drivers financially whole in case they are unable to collect if they get into a crash with an at-fault driver who has little or no insurance.”

Drivers who properly protect themselves with UM/UIM motorist coverage can submit the loss directly to their insurance company. Some insurers may even offer an endorsement to a policyholder’s umbrella or excess liability policy that allows the higher limits to come into play, if necessary.

According to the most recent data from the National Association of Insurance Commissioners, the average uninsured motorist coverage claim was $19,650 for bodily injury.

If you have been injured due to the negligence of an uninsured or underinsured motorist: CALL THE TRIPP LAW FIRM FOR A FREE CONSULTATION TO DISCUSS YOUR LEGAL RIGHTS 1 (888) 392-LAWS (5297).