Tough Economy Causes Increase In Uninsured Motorists

If you were forced to drop your automobile insurance because of the economic struggle, you are not alone. The number of uninsured motorists had been steadily dropping for several years before the recession. Those numbers jumped to over 14% during the worst of it.

2009, the year the most recent data was studied, showed that 13.8% of motorists nationwide were uninsured. Some states are harder hit than others. Mississippi has the highest rate at 28%, while Massachusetts and Maine have the lowest at 4.5%. The study alludes to the higher rates being in states with higher unemployment rates.

These numbers make sense to the everyday working person. If you lose a job and are faced with some really tough decision, car insurance is likely to be the first to go unpaid. Unfortunately, that puts many at risk for losing their drivers license and insured motorists will have to bear the financial burden of accidents involving uninsured motorists. For those insured citizens in states with high unemployment, it is more important than ever to add uninsured motorist coverage to your existing policy.

Filed under Uninsured Motorist News by on #