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New Uninsured Motorist Coverage Available Next Year
Continued from GIIS Home Page
Starting with policy renewals in 2009, another coverage option will be available:
1. (The new option) New Uninsured Motorist Coverage is added on top of the at-fault driver's liability insurance, to the extent of proven damages, or;
2. (current law) Traditional Uninsured Motorist Coverage in which the policyholder's UM/UIM coverage is REDUCED by the at-fault drivers' liability coverage, or,
3. No UM/UIM coverage is purchased.
Here's how you will choose which option is best for you. If you currently have UM/UIM coverage (Option 2) and take NO action prior to your next policy renewal, you will receive, and pay for, the additional UM/UIM coverage, also known as "add-on" coverage. Because this option will provide additional coverage, it is likely to cost more than your current UM/UIM coverage.
If you do not want the enhanced UM/UIM coverage, you must OPT-OUT of it using a form that will be sent to you by your insurance agent or company.
If you have already rejected UM/UIM coverage, in writing, and you take no action you will continue to have no UM/UIM coverage.
Georgia insured motorists will receive from their insurer at least 45 days prior to their policy renewal notification of this change in Georgia law, and will be asked to make a choice as to what coverage choice they want.
Remember, the new law that goes into effect in 2009 states that if you currently have UM/UIM coverage, and you DO NOT respond to your insurer, you will automatically receive the enhanced coverage that may include a higher UM/UIM premium.
If you opt-out for the enhanced coverage, you will continue to be insured for UM/UIM as before. Selecting the additional UM/UIM coverage option may be important to some drivers, and less important to others. The key is that the new law gives motorists another choice when determining the right amount of coverage for themselves and their families.
Look for your 2009 auto insurance policy renewal notice that will advise you about this potential change in your coverage. Ask your agent or company if you have questions.. |
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