When you are involved in an auto accident that was caused by someone else, you likely assume that the other driver’s insurance policy will take care of you; your medical bills, your injuries, your car, your lost wages, etc. However, that assumption can be very costly and at times devastating. Below, our friends at The Gordon Law Firm explain why uninsured and underinsured motorist converge is important.
According to recent data, roughly 1 in 7 drivers in the U.S. has no auto insurance at all. No problem…You can just go after them personally, right? Another bad assumption, as most of those who have no auto insurance will not have the personal means to cover your damages. And what about those drivers who do have insurance, but not enough to cover your damages? What happens if your medical bills alone are more than what the other driver’s limits are? Again, assuming that the other driver’s insurance policy is going to be able to take care of you is a dangerous assumption.
The answer to these questions is simple: Obtain as much Uninsured Motorist (UM) and Underinsured Motorist (UIM) coverage you can afford. Uninsured Motorist coverage protects you if you’re involved in an accident with a driver who has no insurance (Remember, 1 in 7 drivers in the U.S. fall into this category). Underinsured Motorist coverage applies when the other driver has insurance, but not enough, meaning that their limits are too low to cover your medical bills, lost wages, or other damages. In both cases, your own auto policy when you have the protections of Uninsured Motorist and Underinsured Motorist coverage becomes your safety net.
So, how exactly does this work? In the case of being involved in an accident with someone who has zero insurance, your claim would then be against your own insurance policy. In the case of being involved in an accident with someone who does not have enough coverage, you would also make a claim against your own policy, but only after exhausting or receiving the policy limits from the other party. In both cases, you are making a claim against your own auto policy as you have been paying an extra premium (usually not very much) for these additional layers of coverages and protections.
As a good car accident lawyer knows, auto insurance is about preparing for the unexpected and the uncontrollable. You can’t control who hits you and causes an auto accident that leaves you with a damaged vehicle and bodily injuries. However, what you can control is how well you protect yourself and those in your vehicle by obtaining as much Uninsured Motorist and Underinsured Motorist coverage you can. By doing so, you ensure that when the worst happens, you’re not stuck in the horrible position of having to pay the price for someone else’s poor decisions of either having no insurance or not enough insurance. You will have the peace of mind knowing that no matter what happens and no matter who causes an accident that you are involved in…you are protected…no matter what.
In short, EVERYONE needs as much Uninsured Motorist (UM) and Underinsured Motorist (UIM) coverage as is affordable…and don’t wait until it’s too late.