Another insurance question…..

Can you explain what the Underinsurance policy is suppose to do? I have Great West and have the same coverage that I had with Progressive when I used them before.

 

Basically it covers damages above the coverage limits of another persons policy.

In Arkansas i think the minimum legal is 25k. If you were hit and the person at fault did 40k in damage, but their policy was state minimum, you'd be paying the balance.

With underinsured, your insurance would cover the overage then try to get restitution from the at fault party.

 

Would this not be the same case with Full coverage insurance? I am guessing most cars are underinsured if they hit and wreck a semi truck and total it out.

 

Beware about cutting corners with insurance. Get what you need and live with it. Insurance companies across the board for mostly ANYTHING AND EVERYTHING has jump. If your agent isn’t letting you know ahead of time when cost are increasing, you need to find a good agent/broker. Pay up or get out. Pay up now or it will bite you in the butt if a claim occurs. And don’t forget to read the fine print. Better yet, hire a lawyer to read over the fine print, it will save you the headaches during a claim.

 

Pretty sure uninsured and underinsured would also have to be added to your normal full coverage policy.

Been a long time since I've had anything with full coverage, but back then you had to add them.