By: Mario Palermo of Palermo Law Group
Many of us do not realize that our own automobile insurance can provide significant compensation to us for injuries we sustain in a collision. In fact, your own car insurance can provide compensation to you even if you are not in your car when the collision occurs.
The key to protecting yourself is to make sure that you have plenty of underinsured motorist (UIM) coverage. As the name implies, this coverage kicks in when the value of your case exceeds the at-fault driver’s policy limits and you have adequate UIM coverage. For example, what if you fracture your leg in a bad car wreck? Your hospital bills may well be in excess of $100,000.00 and you may miss months of work. The driver who rear-ended you has $25,000.00 of coverage, obviously not enough to cover your damages. The next question is what are your UIM limits? If the limits exceed $25,000.00 then you will have UIM coverage.
Under this scenario, your UIM coverage will provide compensation to you under your automobile insurance. This is why it is so important to protect yourself by having adequate UIM limits.It is easy to see how even having $100,000.00 of coverage may not be enough under certain circumstances. What’s more, the difference in the cost of acquiring that $100,000.00 versus $25,000.00 policy limits pales in comparison to what your loss could be. So protect yourself!Make sure you have adequate UIM coverage so you do not have to rely on the other driver’s insurance to make sure you are fairly compensated.
After a car accident, there are several things you should do to preserve your legal claims. If you have been injured in a car accident, contact our firm today to schedule a free confidential consultation and case evaluation with one of our experienced attorneys. You pay nothing until we successfully resolve your legal claims and secure the compensation you are entitled to for your injuries.