Understanding Hit and Run Insurance

Accidents are a common occurrence on our roads, and even the most careful drivers can be involved in a crash. Ideally, if you are involved in an accident, you can exchange information with the other driver and sort out any damages or injuries. Unfortunately, sometimes the other driver flees the scene, leaving you with no information or recourse. This is where hit and run insurance comes in.

What is Hit and Run Insurance?

Hit and run insurance, also known as uninsured motorist coverage, is a type of insurance that protects you if you are involved in an accident with a driver who flees the scene. It can cover damages to your vehicle, medical expenses, and even lost wages if you are unable to work due to injuries sustained in the accident.

Hit and run insurance is an optional type of coverage that is offered by most insurance companies. It is a wise choice for any driver, as you never know when you might be involved in an accident with an uninsured or underinsured driver who chooses to flee the scene.

How Does Hit and Run Insurance Work?

If you are involved in an accident with a driver who flees the scene, you should file a police report as soon as possible. You should also notify your insurance company of the accident and provide them with any information you have, including the police report number.

If you have hit and run insurance, your insurance company will cover the damages and expenses you incur as a result of the accident. You will need to pay your deductible, which is typically a few hundred dollars, and your insurance company will cover the rest of the costs up to your policy limits.

If the police are able to identify the other driver, your insurance company will attempt to recover any costs they paid out from the other driver’s insurance company. If the other driver is uninsured or underinsured, your hit and run insurance will cover the damages and expenses.

What Does Hit and Run Insurance Cover?

Hit and run insurance can cover a variety of expenses, depending on your policy. Here are some of the things that hit and run insurance typically covers:

It is important to note that hit and run insurance does not cover everything. For example, it typically does not cover damages to your vehicle or injuries sustained in a hit and run accident that occurs while you are driving for work purposes. Be sure to read your policy carefully to understand what is and is not covered.

Is Hit and Run Insurance Worth It?

If you are involved in a hit and run accident, hit and run insurance can be invaluable. It can provide you with the financial support you need to recover from the accident and get back on your feet. If you don’t have hit and run insurance, you could be left with significant expenses that can be difficult to pay for.

Hit and run insurance is also relatively inexpensive, especially when compared to other types of coverage. It is a wise investment for any driver, as you never know when you might be involved in an accident with an uninsured or underinsured driver who chooses to flee the scene.

FAQs

What is the difference between hit and run insurance and uninsured motorist coverage?

Hit and run insurance and uninsured motorist coverage are often used interchangeably, but they are not exactly the same thing. Hit and run insurance specifically covers you in the event of a hit and run accident, whereas uninsured motorist coverage covers you if you are involved in an accident with an uninsured or underinsured driver, regardless of whether or not the driver flees the scene.

Do I need hit and run insurance if I have uninsured motorist coverage?

If you have uninsured motorist coverage, you may not need hit and run insurance, as uninsured motorist coverage will typically cover you in a hit and run accident. However, it is important to check your policy to be sure, as policies can vary.

How much hit and run insurance should I have?

The amount of hit and run insurance you should have depends on your individual circumstances. You should consider factors like your income, your assets, and your risk of being involved in a hit and run accident when choosing your coverage limits. It is always better to err on the side of caution and choose higher coverage limits if you can afford it.

Will hit and run insurance raise my rates?

Like any type of insurance, hit and run insurance can impact your rates. However, the impact is typically minimal compared to other types of coverage. Be sure to shop around and compare rates from different insurance companies to find the best deal.

Can I buy hit and run insurance without buying other types of coverage?

Hit and run insurance is typically offered as an add-on to other types of coverage, such as liability, collision, and comprehensive coverage. You may be able to purchase hit and run insurance as a standalone policy, but it is not common.

Conclusion

Hit and run accidents can be frustrating and stressful, but hit and run insurance can provide you with the financial support you need to recover. If you are a driver, hit and run insurance is a wise investment that can provide you with peace of mind and protection on the road.