I have seen so many people devastated by car accidents. I’ve unfortunately watched them be devastated a second time when they learn that the other motorist involved in the accident lacks sufficient insurance to cover the damage he or she caused. Of all of the advice I give clients, perhaps the most common one is to carry uninsured/underinsured motorist coverage on your automotive insurance. Don’t just carry it, carry as much as you can afford. While it is called “uninsured motorist” insurance, the motorist you are really insuring is yourself. I receive many questions about uninsured motorists, so I have written the following blog post to provide an overview.
If you have sustained an injury in an automobile accident, you must find experienced counsel to help you attain your fair share of compensation for your loss of income and injury; this is especially true if the other motorist lacked sufficient insurance coverage. Barrett Law has the experience to help you if you have been injured. Contact us now at (601) 790-1505.
Uninsured or Underinsured Motorist Insurance
There are many types of coverages on your automobile insurance policy; for example, you can be covered for towing expenses or for new windshield glass. Many of these coverages are optional and a matter of personal taste. However, one optional coverage is absolutely vital is commonly referred to as “UM” or “UIM,” Bodily Injury Caused by An Uninsured Auto and Bodily Injury Caused by an Underinsured Motorist. These are essential coverages if your accident is caused a driver who lacks sufficient insurance to cover you for your injuries and vehicle damage. Most people purchase the minimum insurance coverage required by law, while others purchase no insurance at all. If the driver that hits you has no insurance or too little insurance, these UM/UIM coverages step in and replace the other party’s insurance to provide coverage.
Imagine that the motorist who hit you has “bodily injury” coverage of up to $20,000. That means even if you have significant injuries and tremendous economic damages, the most that the driver’s insurance company will be able to offer you is $20,000. If they have a 20/40 policy, which is quite common, that means that the most they can pay you and everyone else in your care is $40,000. As a result, if there are more than two people in your car, you will not even be offered $20,000. That is a pittance compared to what you will need if you are injured and your car is damaged.
How much UM coverage should you purchase? I encourage clients to attain as much UM coverage as they can afford. Sadly, the UM coverage you purchase may be the only way for you to receive any compensation if you are injured by a driver with insufficient or no insurance. I recommend at least 100/300 and suggest 250/500 or more, if you can afford it. That means that instead your policy will pay $100,000 or $250,000 for your injuries, or $300,000 or $500,000 if multiple parties are injured. Remember that this may be your only way to recover money if you are injured due to the negligence of another driver.
What Should You Do If You or a Loved One Has Been Injured in a Car Accident?
If you or loved one were injured an automobile accident, you are going to need the assistance of a personal injury attorney, especially if the other party has insufficient insurance coverage or no coverage at all.
Call Barrett Law now, an experienced Mississippi personal injury law firm, to represent you if you have been injured in an accident. Contact us now at (601) 790-1505.
