You may never really think about your insurance coverage in Virginia except when you are renewing your policy or buying a new policy. However, have you checked out your coverage and really thought about whether or not it is enough? Car accidents can be incredibly expensive, especially if they involve injuries. The expenses add up fast, and many drivers do not have enough insurance to cover the actual costs of an accident.

 Allstate explains when this happens, you are an underinsured motorist. You may have as part of your policy an uninsured/underinsured motorist coverage option. This is made specifically for instances where you get into an accident with someone who does not have enough insurance to cover your costs. If you have this coverage, your insurance will pay for your expenses not covered by the other person’s insurance.

It is incredibly common for people to drive underinsured. The state minimum insurance requirements are fairly low, and they do not often cover more than minor fender benders. If you are an underinsured motorist, you could end up having to sell assets or dip into savings accounts to pay for the expenses that your insurance did not cover. On the other hand, if an underinsured motorist hits you, then you have the hassle of taking that person to court to get the money owed to you.

 Ideally, you have a policy that offers enough coverage to pay for accident damages and you carry uninsured/underinsured motorist coverage. If these things are true, then you probably will not have to worry about issues with being underinsured. This information is for education and is not legal advice.