Print page
Email page
Download PDF
« Previous Release | Next Release »
SACRAMENTO, CA, Apr 29, 2009 (MARKET WIRE via COMTEX News Network) -- As a responsible driver who pays your auto insurance premiums on time, you probably assume that if a distracted driver runs a stop sign and sideswipes your brand new SUV your auto insurance policy will cover the damage.
If your policy doesn't include uninsured/underinsured motorist coverage, don't count on it.
As unemployment numbers rise, many cash-strapped drivers are canceling or reducing auto insurance coverage in an attempt to save money. If you're involved in an accident with one of these individuals and don't have uninsured/underinsured motorist coverage, you're probably on your own to settle the damage -- even if you're not at fault.
Rebecca McCormick, a travel journalist and photographer from Arkansas, learned this lesson the hard way.
In 2000, McCormick and her young son were traveling outside of Tuscaloosa, Alabama when they were run off the road by an 18-wheeler. Her vehicle spiraled out of control, flipping end over end four times before landing upside down in the median. The 18-wheeler, which had initially pulled off the road, quietly drove off.
Though McCormick and her son made it out of the crash virtually unharmed, the financial aftermath was devastating.
"I racked up a $5,000 emergency room bill and totaled the car. Because I didn't have uninsured motorist coverage, I lost everything," she said.
Uninsured/underinsured motorist coverage covers damage from an accident involving an uninsured or underinsured driver and protects pedestrians injured by hit-and-run drivers. It's not required in most states but is relatively inexpensive -- just a few dollars per month on average.
Unfortunately, many drivers haven't grasped the importance of this coverage -- at least not yet.
"Most drivers don't think about uninsured/underinsured motorist coverage until they're involved in a hit and run or other similar incident," said Brad Cooper, Senior Vice President at online insurance marketplace InsWeb.com. "With the number of uninsured drivers on the road increasing every day, now is the time for drivers to review their coverage needs and make sure they're properly protected."
To learn more about uninsured/underinsured motorist coverage, visit InsWeb.com's Auto Insurance Learning Center at http://www.insweb.com/auto_insurance/auto_insurance.htm.
About InsWeb
InsWeb Corporation (NASDAQ: INSW) owns and operates a network of leading insurance marketplace and education websites. Founded in 1995 and headquartered in Sacramento, California, InsWeb's primary properties include InsWeb.com, where visitors can view independent research and quickly obtain actionable insurance quotes from multiple carriers; AgentInsider.com, a top-rated online marketing source for insurance agents; and FreeInsuranceAdvice.com, the leading online destination for insurance information and advice. In 2008, more than 10 million consumers turned to InsWeb for answers to their insurance questions. To learn more about InsWeb Corporation, visit www.InsWeb.com.
Media Contact: Jonathon D. Tudor InsWeb Corporation (916) 853-3386 jtudor@insweb.com
SOURCE: InsWeb Corporation
mailto:jtudor@insweb.com
Copyright 2009 Market Wire, All rights reserved.
News Provided by COMTEX
