General Disclaimer: All the articles here are presented with no warranty. The information displayed on investingbytes.com may be different from what you see when you visit a financial institution, service provider, or a specific product’s site. We are not responsible for any errors or other inaccuracies in the content on our website. The information provided on our website is solely for informational and educational purposes, We recommend that you obtain considered and independent advice from a financial professional before you make any financial decisions or implement any financial strategy.
Advertiser Disclosure: Card Listings and other financial products that appear on this site are from financial companies for which investingbytes.com may receive compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. Investingbytes.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.
GEICO uninsured motorist coverage – what to know?
Uninsured motorist (UM) coverage is a plan provided by insurance companies to cover damages done to your vehicle by an uninsured faulty driver. While this is not a compulsory insurance coverage plan, some states keep it mandatory. It is instrumental in some hit-and-run cases where getting a hold of the driver is difficult. GEICO is one of the many popular insurance companies that provide uninsured motorist coverage in your policy, if the state requires it.
Types of uninsured motorist coverage
GEICO offers two different types of UM coverage that you can choose to add to your standard policy. These are as follows:
Uninsured motorist bodily injury coverage (UMBI)
If you are in an accident caused by another driver who does not have insurance, this coverage will help you get compensated if you are injured. Under typical circumstances, it covers medical expenses, funeral expenses, loss of income, or compensation for pain and suffering. If you do not have UMBI, you will be responsible for paying all the bills post the accident.
In case you have personal medical insurance, your medical bills can be supported by that. If you have medical payments or personal injury protection coverage from GEICO, your medical bills again would be taken care of once you file a claim. However, GEICO’s UMBI also pays you for pain and suffering.
Uninsured motorist property damage coverage (UMPD)
With this coverage, if your vehicle is damaged in an accident caused by an uninsured driver, the uninsured motorist property damage coverage will compensate you for your expenses. If you do not have GEICO uninsured motorist property damage coverage, you will have to pay for the expenses yourself, but you can challenge the at-fault driver in court for your claim settlement.
It is crucial to know whether your state policy makes it mandatory for you to have uninsured motorist coverage or an optional benefit that you can choose while buying your insurance coverage. If you have GEICO insurance coverage, you can simply log in to your account, check whether your standard policy is inclusive or exclusive of the uninsured motorist coverage and take a call on how you want to customize your policy.
Home loans can be a really tiring task to get over with it as it has got a lot of paperwork involved...Read more
The tax situation can have people running helter-skelter to seek help from different sources. Usuall...Read more
Prevention is better than cure. It is always preferable that way, but that does not happen invariabl...Read more
Getting a thorough comprehension of the process in which the online payment services work is challen...Read more
Subscribe to our newsletter to receive latest updates in the world of finance!