Still, the simplest, most cost-effective option to protect you and your family is to already have sufficient uninsured and
underinsured motorist coverage.
The bulletin states that many insureds are telling the department that they didn't know they were
underinsured, and others stated that they didn't know what it means to be
underinsured.
The Limits of Liability stated in the Declarations for
Underinsured Motorist Coverage are for reference purposes only.
The analysts classified participants as
underinsured if the participants had major medical coverage throughout the year but had deductibles exceeding 5 percent of income; had plan out-of-pocket medical expenses exceeding 10 percent of income; or had an income under 200 percent of the federal poverty level and out-of-pocket expenses exceeding 5 percent of income.
''Chronically ill people are likely to be
underinsured and face extremely high out-of-pocket costs,'' said Caroline Pearson, who tracks the health care overhaul for Avalere Health, a market research and consulting firm.
Many uninsured and
underinsured adults also faced significant medical debt or had trouble affording health care visits and prescriptions, according to the report.
China alone was found to be
underinsured by $79.6 billion, making it the most
underinsured country in monetary terms.
In August 2005, Gay was involved in an accident with an
underinsured motorist while Gay was driving a vehicle owned by his company, Frank Gay Plumbing, which maintained a policy with the Association for uninsured motorist coverage.
Hursh said despite the laws in the books, about 40% of all motorists on Texas roads drive without the required coverage and not protecting yourself and family with uninsured and
underinsured motorist coverage is like playing Russian roulette.
More Americans are
underinsured than they were a decade ago, and nowhere is the coverage gap larger than in the middle market.
This follows latest research by the RICS Building Cost Information Service, which found that 80% of commercial properties are
underinsured.
Hope III, an
underinsured driver with a Nationwide Mutual Insurance Co.
