Too frequently, drivers in Ohio are injured in auto accidents involving drivers who have either, no insurance or not enough insurance to cover their injuries. According to insurance industry statistics, nearly 15% of all drivers do not have auto insurance. In some states, the rate of uninsured drivers is as high as 25%. If someone is injured by an uninsured or underinsured driver, they will recover little money, if any, for their injuries and losses. Fortunately, there is a cheap and easy and to protect yourself from this tragic situation — purchase an uninsured and underinsured motorist insurance (UM/UIM) policy through your insurance carrier.
Uninsured Motorist Insurance
This policy protects you in the event you are injured by a driver who does not carry insurance (uninsured) or it was a hit-and-run accident. This policy allows you to collect money from your own insurance company – up to the face value of the policy -- for your personal injuries and other losses.
In order to benefit from this coverage, you must have it added to your auto insurance policy. This is great protection for you and your loved ones without much additional cost. Without uninsured motorist protection, if you are injured in an accident with an uninsured or hit and run driver, it is unlikely you’ll be able to recover for your losses.
Underinsured Motorist Insurance
This policy protects you from a driver who does not carry enough insurance to pay for all your injuries and damages. For example, if a driver only carries a $25,000 policy and your injuries are in excess of $50,000, the driver’s insurance company is only required to pay you $25,000 – the face value of the policy – not the value of your injuries. In this example, you’d be responsible for the balance of your bills and expenses. However, having an underinsured motorist policy will protect you so that you will be fully compensated for your injuries and losses.
Like uninsured coverage, underinsured motorist coverage also must be included in your own auto insurance policy. Like uninsured coverage, underinsured coverage is usually inexpensive and can ensure that you are fully compensated for your injuries, not just for a portion.
The worst time to find out you don’t have the right auto insurance, or enough insurance, is immediately after an accident. So take a few minutes and review your auto insurance policies to ensure you have adequate uninsured and underinsured motorist insurance; you’ll be happy you did.
Uninsured and underinsured motorist insurance claims can be complex, and rules can vary between states about how these claims are made. We will help make sure the proper steps are taken and that you receive all you are entitled to obtain under your auto insurance policy.
Contact an attorney at Triscaro & Associates today. Please call us for all your legal needs. We offer a full range of legal services to individuals, families and businesses, including personal injury, estate planning, real estate, family law and business matters. We are dedicated to providing the highest quality legal services at a reasonable cost.