Auto and Home Insurance 101 for December 3rd, 2014

Auto and Home Insurance 101 for December 3rd, 2014

By / Auto and Home Insurance 101 / Wednesday, 03 December 2014 05:00

WHAT IS UNDER INSURED AND UNINSURED INSURANCE COVERAGE?

Steve Bowman, Property & Casualty Insurance Broker

Under-insured Coverage: applies only to the extent the Under-insured limits you carry exceed the bodily injury limits carried by the “at-fault” driver of another vehicle.
Un-insured Coverage: allows the insured (you) and (your) passengers in the covered vehicle  to collect sums that an “at fault” driver would legally be liable to pay for bodily injury and property damage. 
An “at-fault” coverage comes in when you are  involved in an accident with:
1.  An Uninsured Driver
2.  A hit and run Driver
3.  A Driver whose insurer is insolvent
It is very important to know that the under-insured and un-insured coverage is based on the limits you carry on your vehicle.
In North Carolina, the minimum insurance amount  carried  is $ 30,000/ $ 60,000/ /$25,000.  When  the damages total more than that, only the limits you carry would  be paid for by  your  insurance company.  You can obtain higher limits to protect yourself if involved in an accident with an under-insured  or uninsured driver.
From the office of: Steve Bowman, Property & Casualty Insurance Broker, 106 K Ave. Kure Beach, NC 28449 : Phone 910-458-1164 : 800-542-2502 : Fax 910-458-7311
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