by Andrew Coker
In Arkansas, nearly 1 in 8 drivers are uninsured. While the state has made strides in reducing this number from 16% in early 2020 to 8.7% in 2023 the risk remains significant. Uninsured Motorist (UM) coverage is optional in Arkansas, but they offer crucial protection for drivers. Don’t let a hit-and-run ruin your day. Here are some tips from Coker Insurance when reviewing your coverage.
What Is Uninsured Motorist (UM) Coverage?
- Uninsured Motorist (UM) Coverage: Protects you if you’re injured in an accident caused by a driver without insurance.
- Underinsured Motorist (UIM) Coverage: Covers the gap if the at-fault driver has insurance, but their policy limits are insufficient to cover your damages.
Both cover medical expenses, lost wages, and pain and suffering resulting from an accident.
Why UM Coverage Is Essential in Arkansas
- High Uninsured Driver Rate: As of 2023, Arkansas had an uninsured motorist rate of 8.7%, nearly double the national average of 4.5%.
- Protects Against Hit-and-Run Accidents: If you’re involved in a hit-and-run, UM coverage can help cover your expenses.
- Covers Medical and Repair Costs: Without UM/UIM coverage, you may have to pay out-of-pocket for medical bills and vehicle repairs if the at-fault driver is uninsured or underinsured.
- Legal Protections: In some cases, having UM/UIM coverage can provide legal avenues to recover damages that may not be available otherwise.
How Coker Insurance Can Help
- Offered by Insurers: Insurance companies in Arkansas are required to offer UM/UIM coverage.
- Opt-In Process: You must sign a written waiver if you choose to decline this coverage.
- Policy Limits: The minimum coverage limits are typically $25,000 per person and $50,000 per accident.
Final Thoughts
While UM/UIM coverage is not mandatory in Arkansas, Coker Insurance recommends that it’s a wise investment to protect yourself financially. Given the state’s higher-than-average rate of uninsured drivers, having this coverage can provide peace of mind and financial security in the event of an accident. If you have more questions, please call 870-239-2110.
