UM/UIM is a relatively inexpensive coverage, especially considering how valuable it can be and how many drivers are uninsured or underinsured. Premiums vary depending on a plethora of factors, but most UM/UIM policies cost somewhere between $33 and $134 a year for $25,000/$50,000 of coverage, according to Value Penguin. That amounts to a couple of dollars a month for fairly substantial protection. Consider this: nearly 14 percent of all drivers Louisiana are uninsured (even though it is unlawful to own a vehicle without carrying insurance), reports The Pew Charitable Trusts. Many are uninsured because of criminal records like DUIs, financial constraints, or accidentally letting their coverage lapse. Because there is a good chance that you could be in an accident with one of them, it just makes sense to pay slightly higher premiums for UM/UIM.