Over One-Third of U.S. Drivers Lack Adequate Auto Insurance Coverage

Despite legal mandates requiring auto insurance in nearly every U.S. state, over 15% of drivers remain uninsured, and nearly 20% have insufficient liability coverage to cover another driver's expenses after an accident. This leaves more than one-third of motorists on the road potentially underprotected, posing financial risks to others involved in collisions.

Uninsured and underinsured motorist (UM/UIM) coverage is critical for mitigating these risks, ensuring drivers are not financially liable for medical costs and vehicle repairs if hit by inadequately insured motorists. Heidi Huiskamp Collins of Huiskamp Collins Investments LLC discussed the importance and details of UM/UIM coverage, emphasizing its role within a comprehensive insurance strategy and financial planning.