Road Risks Rise as More Drivers Drop Insurance

"More drivers are letting their car insurance lapse because of the sour economy, putting themselves and others at risk.  Several hundred thousand drivers dropped their insurance in the past year as the jobless rate climbed, estimates a study to be released next month by the Insurance Research Council, an industry-funded group. Online agency Insurance.com says it also is seeing evidence recently of more uninsured motorists. It says that as many as 40% of callers following up on online applications had let their previous policies lapse, up from less than 10% a couple years ago."

"The trend is bad news for everybody on the road. If you're hit by an uninsured motorist, you may have to sue to recover costs, and many uninsured motorists have few assets. You can protect yourself by carrying uninsured-motorist coverage -- almost half of states require the added coverage -- but this may boost your premium."

This article points out the importance of buying the best coverage for your vehicle that's possible.  This means that you should purchase underinsurance and uninsurance.  Because so many drivers have no or limited insurance, buying extra coverage only protects you and your family.

To learn more about Underinsurance and Uninsurance, click here and here and here.