Final answer:
Uninsured motorist insurance is designed to cover expenses in case you are injured by a driver who cannot pay or in a hit-and-run incident.
Step-by-step explanation:
The type of insurance that protects you if you are injured by a hit-and-run driver or a driver who has no way to pay for costs is uninsured motorist insurance. Unlike liability insurance, which covers damages to others if you are at fault, or comprehensive insurance, which covers non-collision related damage to your vehicle, uninsured motorist insurance is specifically designed to cover your medical expenses, pain and suffering, and lost wages when the at-fault driver lacks the financial resources to do so. It also applies in the event of a hit-and-run, where the at-fault driver cannot be identified. This insurance is crucial since it ensures that you are protected financially in situations where the other party cannot contribute.