Clients are routinely disappointed when the “full” coverage their insurance agent sold them will not cover them in certain situations. Full coverage is a term of art insurance companies use to sell insurance policies. Whether it is meant to or not, it can mislead people, and one thing I have learned without a doubt is that Insurance companies are great at hiding the ball.

So many people believe this headline. I remember when I was buying car insurance for the first time and being encouraged to just get the minimum liability coverage because “everyone has to have insurance.” The logical conclusion being that UIM is extra coverage that you’ll never need—basically a money suck for the insurance companies.