It’s no secret that auto insurance is not cheap, and there are many consumers who try to save as much as they can on premiums. This is likely why you see so many commercials from Geico, State Farm, Progressive and Allstate. Nevertheless, having insurance for your vehicle is required under Arizona state law.
The minimum amount of insurance is 15/30/10 insurance, which means that the coverage provides $15,000 for one person injured in an accident, $30,000 total for bodily injury per accident, and $10,000 for property damage.
Many people are satisfied with carrying this amount of insurance, while others have higher threshold coverage amounts. While 15/30/10 may seem like a great deal of money, medical costs may exceed these amounts very quickly. Also, some drivers may not carry any insurance at all, even though it is illegal under state law.
Because of this, some drivers may carry uninsured motorist (UM) insurance and underinsured motorist (UIM) coverage. Essentially, these types of insurance will cover you in the event that you are in an accident with another driver who does not have insurance, or so little insurance that your injuries cannot be compensated. UM and UIM coverage is especially important in “hit and run” accidents, where the offending driver leaves the scene before providing any insurance information.
These coverages may not be very expensive, but they can provide peace of mind after hit and runs, as they can provide compensation for pain and suffering for you and other people injured in your vehicle. However, insurance companies may not be easy to work with after you have been injured, so having an attorney available to work with them is a benefit.