Of all components of auto insurance in Ohio, Uninsured Motorist Property Damage coverage (UMPD), is by far the least discussed and the most overlooked there is. That is partly because if you have collision coverage, you do not need uninsured motorist property damage coverage. However, for those who do not have collision coverage, uninsured motorist property damage (UMPD) is a must have for your auto insurance policy.
In Ohio, Uninsured Motorist coverage is divided into two parts: bodily injury (UMBI) and property damage (UMPD). In many states, one or both parts are mandatory coverages. But in Ohio, both parts are optional.
I'm sure you've heard from your agent how important uninsured motorist bodily injury (UMBI) coverage is , but often overlooked is the uninsured motorist property damage (UMPD) part of it.
Many older vehicles do not need collision coverage simply because the value of the vehicle isn't high enough to warrant the premium. In those cases, uninsured motorist property damage coverage (UMPD) is a must!
Why? There are two major reasons for this:
1. It is estimated that one in every six drivers do not carry auto liability insurance. That number may go up at the end of the year when Ohio's state minimum auto insurance liability requirement goes up. This coverage will protect your vehicle in case you are hit by someone who is at fault but does not have liability insurance.
2. UMPD coverage compared to other parts of your auto insurance is very cheap! It usually only runs about one or two dollars per month. That is chump change when you consider the following:
A common scenario: Let's suppose you're driving one day and some idiot pulls out in front of you, and totals your vehicle. It's clearly their fault.... Soon after, you find out that the other driver does not have any auto liability insurance.... If you do not have collision coverage on your vehicle, and you do not have UMPD coverage, you are hung out to dry!
That's why UMPD coverage is so important to have if you do not carry collision coverage. It may not be worth it to carry collision coverage on an older vehicle. But as cheap as Uninsured Motorist Property Damage is, it's a no brainer not to have it!
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Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..