Many people only pay attention to their car insurance bills, but not their coverage, or whether they actually have coverage. Unfortunately, for many, they find out after a wreck that their coverage did not exist, or that the other person did not have coverage. For the later, carrying proper insurance, including UM (uninsured or underinsured motorist coverage) with appropriate limits will provide financial protection for injuries you sustain to person or property as a result of someone else’s neglect. But for the former, the only way to confirm coverage is to have the policy in hand, have updated insurance coverage cards, and check with the carrier (not the broker).
Lately, some brokers have been charged with keeping premiums and never binding coverage with a carrier. Most brokers are ethical, but the only way to know is trust but verify.
Below is an article from the Atlanta Journal Constitution, wherein a Cobb County insurance agent was charged with fraud for allegedly pocketing insurance premiums.