Canceling Your Uninsured Motorist Insurance Can Save You A Bundle — But Is It A Good Idea?

Author weighs the pros and cons of dropping that portion of his car insurance.

My wife and I had the misfortune of being in western North Carolina at the same time as Hurricane Milton. The devastation there was overwhelming and we were lucky that we escaped with nary a problem — except that our car had to be towed out of a ditch. And it took 3 days for us to find an available tow truck, which meant 3 days stuck in the house we rented. Eventually we got through the mud and downed trees, broken roads, power outages, and long gas lines and managed to drive home a week earlier than we had planned.

Fortunately the only insurance claim we needed was reimbursement for towing. In numerous conversations with our insurance company they repeatedly asked if we and our car were all right. We reassured them that we were fine and there was no damage to the car. But the last agent we were working with said, “Your premium for next year is coming due so now might be a good time for us to review your coverage.”