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Why You Need Uninsured/Underinsured Motorist Coverage

Posted 15 June 2009

In 2004, the most recent year with results available, 8,750 claims were made against uninsured drivers and/or automobile owners in Wisconsin. Damages exceeded $37 million and as of July of 2006, 430 of those motorists still had unresolved claims against them.

“If you are in a collision with an uninsured or underinsured motorist and do not have adequate uninsured/underinsured motorist coverage, you may not be properly compensated for injuries that you, or other occupants of your vehicle sustain,” says Cindy Steinbach, Mayville Insurance Agency.

Although Wisconsin does not require proof of insurance to receive a drivers license or to register a vehicle, it does have a financial responsibility law. The law states that any motorist licensed to drive in Wisconsin must pay for damages to others though a liability insurance policy, a surety bond, personal funds or a certificate of self-insurance. But if an uninsured or underinsured driver hits you and has no means to pay for the damage, your only option is to sue the other driver for damages. It may take years for you to be reimbursed, if at all.

“Uninsured motorists coverage protects you by providing money to cover bodily injury to you and other occupants of your vehicle (or if you are injured as a pedestrian) that were caused by an uninsured motorist or a hit-and-run driver,” says Steinbach. “This protection does not cover damage to your vehicle or your property and is purchased as part of a typical auto insurance policy.”

“Underinsured motorists coverage increases the bodily injury protection for you and the other occupants of your vehicle up to the amount you purchase. This coverage would go into effect when the party causing the accident has lower bodily injury liability limits than your underinsured motorists limits.”

Your professional independent agent can help you determine the right amount of uninsured and/or underinsured motorist coverage to purchase for your situation.

Michele Schultz Completed Designation Course.

Michele Schultz, Personal Line Customer Service Representative of Mayville Insurance Agency, has successfully completed the Certified Insurance Service Representatives Agency Operations Course held at Brookfield.

The insurance course attended was one of the five parts offered by Professional Insurance Agents of Wisconsin. After the successful completion of all five courses covering all major areas of the insurance field, and five comprehensive exams, Michele will be awarded the CISR designation by The National Alliance for Insurance Education & Research, the nation’s foremost provider of professional insurance and education.

Mayville Insurance Agency is an independent agency representing many companies and has been in business over 60 years. Michele has been with the agency for two years specializing in personal insurance needs. She lives in Mayville with her children Nathan and Sydney.

Welcome Paul Backhaus to the Team!

Brad and Cindy Steinbach, owners of Mayville Insurance Agency are proud to announce the addition of Paul Backhaus to their insurance team. Paul is licensed in life and health, property and casualty and Series 6 and 63 Securities Registrations. His focus at Mayville Insurance Agency will be in the financial services area.

Paul’s experience and training will enable him to assist you with life, disability and health insurance, planning for retirement, college education and investments. These services are now available through Paul at Mayville Insurance.

Prior to joining Mayville Insurance Agency, Paul was a Financial Services Representative with Principal Life Insurance Company. While at Principal Life, he was awarded the Pacesetter Achievement Award, completed workshops such as Managing Goal Achievement and Integrity Selling. Paul is currently working toward his Financial Services Specialists (FSS) designation.

Paul was born and raised in the Mayville area and graduated from Mayville High School. He now resides with his wife Lynn in Hartford.

Please feel free to give Paul a call at 920-387-2140 to help with your financial needs of today and your goals for the future. Mayville Insurance Agency is located at 34 S. Main