When you are getting car insurance quotes, you’ll need to decide if you want to purchase Uninsured Motorist (UM) coverage.  Oklahoma UM coverage is, in my opinion, the most misunderstood coverage in our industry.    Here is my best attempt to explain UM coverage………..

Uninsured Motorist Coverage :  If you are involved in an accident and the other party is at-fault, and this other party in either uninsured or underinsured, UM coverage will allow you and your passengers to collect for your bodily injuries under your UM coverage subject to the limits you have purchased. Bodily injury includes things like medical bills, pain and suffering and lost wages. Basically, anything that is legally recoverable from the responsible party can be recovered under your UM coverage with ONE BIG EXCEPTION and that is your property damage……your damaged vehicle. In Oklahoma you would need Collision coverage on your vehicle and your insurance company would fix your vehicle subject to your deductible. I am an advocate for UM coverage. However, I do believe that retired individuals usually have a lesser need for UM coverage due to the fact that their income is not going to change if they are laid-up due to an accident. With that said, I still recommend UM coverage to my retired customers if it is within their income constraints.