One of the Best Deals in Insurance
Wouldn’t it be great to be able to buy insurance against other people’s stupidity?
Well, if by “stupidity” you mean “a person who neglects to get car insurance, and then hits your car,” then there is good news! For a relatively minimal premium, you can purchase insurance that pays for hospital costs and lost wages when the accident is someone else’s fault, but they don’t have insurance to cover those bills.
I know your blood is probably boiling. “It’s their fault—so they should pay for it!” you say, full of righteous indignation.
I completely agree with you! They should pay—but perhaps the reason they did not purchase insurance is because they have nothing.
Nothing? Yes, nothing.
Many of our fellow Americans really own very little, free of the encumbrances of debt. Take a look at these net worth statistics: Census: Wealth Distribution, and appreciate that many drivers have little or nothing that you could take in court.
A much better, and very inexpensive, alternative is to purchase Uninsured Motorists Coverage (UMC). This insurance pays for your hospital bills and rehabilitation expenses when the other party does not have insurance. I recommend you carry the same amount of UMC as bodily injury liability.