According to the Insurance Research Council, 1 out of every 7 drivers in the U.S. is uninsured, and about 12% of drivers in Connecticut do not have auto insurance. Uninsured motorist coverage, as a part of your auto insurance policy, helps to cover the costs related to injuries sustained in an accident with an uninsured driver. In addition, drivers can purchase underinsured motorist coverage to protect them if they are in an accident with a driver who has minimal or insufficient insurance to cover their expenses.
Connecticut requires drivers to purchase uninsured/underinsured motorist coverage. In addition, Connecticut offers optional uninsured motorist conversion coverage, which lets you utilize your own policy to cover your expenses if the driver who caused your accident does not have sufficient coverage to cover you. The other driver’s coverage will pay up to its limits, and your uninsured motorist conversion coverage will kick in and pay the balance. It is a means of “stacking” your insurance coverage on top of the at-fault driver’s coverage, regardless of your underinsured motorist coverage limits. Normally, underinsured motorist coverage only provides compensation up to the limits of your policy—including what you are paid by the other party’s policy. Conversion coverage allows you to collect payment from the at-fault driver’s policy, as well as the full amount from your policy.
According to the Insurance Information Institute, uninsured and underinsured motorist coverage is important because it protects you if you are in an accident with an at-fault driver who has no insurance or who does not have enough insurance. And it is relatively inexpensive coverage that can mean the difference between financial devastation and being able to recover physically and financially from your accident.
Connecticut Uninsured/Underinsured Motorist Coverage
The Connecticut Insurance Department defines uninsured/underinsured motorist coverage as follows:
Uninsured/underinsured motorist coverage covers bodily injury to you, your relatives who live with you and your passengers if they are injured in an accident caused by an uninsured motorist, a motorist whose bodily injury liability limits are less than your uninsured/underinsured motorist limits, or a hit-and-run driver. The standard coverage is an amount equal to your bodily injury liability coverage, but you may purchase additional coverage up to an amount double your bodily injury liability.
Connecticut requires uninsured/underinsured motorist coverage of at least $20,000 per person and $40,000 per accident. The term uninsured motorist conversion coverage is unique to Connecticut, and is defined as follows by the Connecticut Insurance Department: Underinsured motorist conversion coverage also provides for reimbursement in case you are injured by an underinsured driver. If your damages exceed the at-fault driver’s insurance, or other payments, your underinsured motorist conversion coverage will be available for damages not paid. This optional coverage is not reduced by payments from any other source, including the at-fault driver’s liability insurance.
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