As a motorcyclist, your “full coverage” insurance probably looks quite a bit different from the “full coverage” policy that your typical auto driver has. However, should they really look all that different? While many automobile drivers carry uninsured and underinsured motorist coverage, a large number of motorcyclists do not. And that could present a problem in the event that you are involved in an accident.
Uninsured motorist and underinsured motorist insurance are a type of protection that offers you extended protection in the event that you’re involved in an accident with a driver who does not carry an auto insurance policy or does not have a policy with enough coverage to cover the expenses they incur. While driving without insurance is illegal, it probably doesn’t surprise you to learn that it still happens, and quite a bit for that matter. In fact, roughly one in eight drivers in the United States doesn’t carry insurance at all, and even more, don’t carry enough insurance to cover their losses in an accident.
And for motorcyclists, the other driver not having enough insurance could be devastating. In this blog, we’ll take a look at three reasons why, which also serve as three good reasons to make sure you have this type of protection on your motorcycle insurance policy.
MOTORCYCLE ACCIDENTS INVOLVE SERIOUS INJURIES MORE FREQUENTLY
Safety technology in vehicles is rapidly advancing, and today's cars are safer than ever before. More and more drivers are able to survive even more serious crashes without serious injuries thanks to revolutionary new features and advances. However, most of those advancements in structural engineering and electronic safety devices don’t work on motorcycles. In fact, motorcycle safety has advanced very little over the last few decades.
Motorcycle riders aren’t surrounded by the sophisticated armor that composes the body and structure of a car, and as a result, they’re far more prone to serious injuries when involved in an accident. With the cost of medical bills only increasing, these serious injuries can quickly add up to a tremendous level, and that’s something you don’t want to have to deal with while recovering.
MOTORCYCLES ARE JUST AS LIKELY TO BE HIT BY AN UNINSURED DRIVER
Whether it’s the safety equipment you ride with or the insurance you buy to protect your ride, your purchasing decisions are not made because you’re worried about crashing into somebody. In fact, it’s the other way around: you buy these things because you’re worried about someone else crashing into you. And the truth is, motorcycles are just as likely to be hit by an uninsured or underinsured driver than any other vehicle on the road would be.
Uninsured drivers are responsible for millions of dollars in damage each and every year, and add an average of around $67 to the average driver’s insurance premium each year. And that’s saying something when you consider the average motorcyclist pays around $500 per year in insurance premiums already. And depending on where you’re driving in the country, the odds of being hit by an uninsured motorist are even higher. According to 2015 statistics from the Insurance Information Institute, Florida leads the nation in uninsured drivers, with 26.7% of all drivers not having insurance. (The news is better for Oklahoma, where we rank 35th of 51 states, and Washington D.C.)
THE NUMBER OF UNINSURED MOTORISTS IS INCREASING
Those same statistics from the Insurance Information Institute also brought to light a startling reality: the number of uninsured drivers is only increasing. Despite hitting a decade-low in 2011 at just 12.3% of all drivers being uninsured, 2014 and 2015 held steady at 13% of drivers on the road not having insurance. And with costs rising, it stands to believe that those numbers have continued to increase as the years have gone by. Likewise, even more, people still carry insurance but have made the decision to decrease their coverage in order to save money with living costs going up.
With more and more drivers on the road and the percentage of uninsured or underinsured drivers also going up, it’s easy to see why this type of protection is invaluable for motorcyclists. You never plan to get hurt, but if the unfortunate happens and you’re injured in an accident one day, you’ll be glad you have the extra protection to help you get your medical bills paid for so you can focus on your recovery.
If you have been injured in a motorcycle accident involving an uninsured or underinsured motorist, our Tulsa motorcycle attorneys are standing by and may be able to help you get the compensation you deserve. Call Richardson Richardson Boudreaux, PLLC at 918-492-7674 or contact us online to request a no-cost consultation today.