I was involved in a hit and run. Am I covered by insurance?

Have you ever walked out to your car in a parking lot or along the street and found that it was damaged by another vehicle? Have you ever been involved in a fender bender and watched incredulously as the other driver sped away? If you said yes to either of these questions, then you've been a victim of a hit-and-run accident and probably asked: Will my insurance cover this?

Insurance policies are supposed to cover damage done to our vehicles. As such, many Californians believe they have the right policy to cover all possible situations. Unfortunately, unless you have the right policy for the situation above, you may not be as covered as you think. Let's take a look.

The insurance policy that handles hit-and-run accidents

Even though all California drivers are required to carry insurance on their vehicles, not all policies are created equal. This was a point we highlighted in a post this past March where we explained in depth uninsured/underinsured motorist coverage.In short, the important take away from this post is that in California, hit-and-run accidents are treated as if you were involved in an accident with an uninsured motorist. Unfortunately, not everyone has this policy.

Although insurance providers in our state are required to offer uninsured/underinsured motorist coverage, these additional policies are not required by law. They are an optional policy some drivers believe they do not need and therefore do not invest in.

As we explained back in our March post, uninsured/underinsured motorist coverage is incredibly important in hit-and-run cases because it ensures at least some coverage, thereby reducing an accident victim's financial burden after a crash. Without it, you could find yourself paying out of pocket for medical expenses and vehicle repairs that could reach thousands of dollars when everything is all said and done.