Uninsured Motorist Coverage After 75
Uninsured Motorist Coverage pays for your injuries and vehicle damage when you're hit by a driver with no insurance or insufficient coverage to pay your claim.
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What Is Uninsured Motorist Coverage Insurance?
Uninsured Motorist Coverage functions as a backstop when another driver causes an accident but carries no liability insurance or carries state minimum limits insufficient to cover your actual damages. It pays your medical bills, lost wages, pain and suffering, and in some states vehicle repair costs when the at-fault driver cannot. Your own insurance company pays the claim as if they were the at-fault driver's insurer, then pursues reimbursement from the uninsured driver directly.
Who Needs Uninsured Motorist Coverage Insurance?
One uninsured driver causing a severe accident can force you to deplete retirement assets to cover medical bills if you lack UM coverage.
Compare your annual UM premium to your health insurance out-of-pocket maximum and your liquid savings. If your health insurance and Medicare cover accident-related injuries with minimal cost-sharing and you have no vehicle loan requiring coverage, declining UM becomes defensible — but only if you sign the waiver understanding you're self-insuring against uninsured drivers.
How Much Does Uninsured Motorist Coverage Insurance Cost?
- Your selected liability limits — UM coverage typically mirrors liability limits, so higher liability limits produce higher UM premiums.
- State uninsured driver rates — states with higher percentages of uninsured drivers charge more for UM coverage due to increased claim frequency.
- Your zip code's accident density — urban areas with higher hit-and-run rates and more uninsured drivers price UM coverage higher than rural counties.
- Your age bracket — some carriers reduce UM premiums slightly for drivers over 75 due to lower annual mileage, though this varies widely by insurer.
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