OK, folks. Time to talk about something that may not be sexy or on the average person’s radar screen, but if you drive a car in Massachusetts (and over 85% of residents here do,) it’s far more important to everyday life than you think.
I’m talking about your auto insurance coverages – specifically, uninsured motorist coverage – called “UM coverage”, and underinsured motorist coverage – called “UIM coverage. Why so important? Because your statistical chances of being injured by another driver, or you injuring someone else, are very high. If you don’t know enough about your auto insurance policy, you could find yourself in real legal and financial trouble.
I’ll make this explanation as easy to understand as I can. Note: If you have easy access to your auto insurance policy right now, getting your policy out and looking at your Coverage Selections Page, otherwise called your “DEC Page” (for “Declarations,”) will make what I’m going to talk about a lot easier to understand. If you don’t have your policy in easy reach, keep reading because you’ll still learn valuable information that can protect you, legally and financially.