Last post, we wrote about the cost of insuring old cars when it comes to the factors that go into repairing an old car if it is damaged. But the collision and other than collision coverage are just part of the premium you pay. The other parts of the policy included liability and uninsured, UM, and underinsured motorist, UIM protection.
Liability pays others if you damage their property or injure them. The reason the cost of insuring old cars for liability doesn’t decrease is because you can injure someone just as easily with a 1978 Chevy Impala as you can with a 2021 Toyota Camry.
The UM/UIM coverage is really the opposite of liability. Where liability pays others if you injure them, UM/UIM protects you if you are injured by someone without any coverage, uninsured, or someone with insufficient coverage, underinsured. Again, driving an old car puts you at just as much risk as driving a new car when you are struck by someone else.