I regularly meet with potential clients who have been seriously injured in a car wreck. Their stories of how the accident unfolded and the injuries they sustained can be truly heartbreaking, especially when the driver who hit them has little or no insurance.
When this is the case, one of the first questions we ask is, “What does your own auto insurance look like? Are you fully insured?” Invariably, their response is, “Yes, I’m fully covered.”
The reality, though, is usually quite different, since the vast majority of accident victims (and most drivers for that matter) don’t have nearly enough of what is known as Uninsured or Underinsured Motorist Coverage (UM/UIM).
Unlike liability coverage, which insures you if you injure someone else in an accident, UM/UIM coverage protects you in the event that the person who hit and injured you has little or no insurance.
The problem is that since so many drivers carry the bare minimum in liability coverage or don’t have any insurance at all, you’re left in a disastrous situation if you are hit by one of them and you or your passengers suffer serious injuries. Any sort of a hospital stay, surgeries, or ongoing medical care can easily run into the hundreds of thousands of dollars.
Here’s the real kicker—UM/UIM coverage is actually very inexpensive. In fact, a $1,000,000 UM/UIM policy usually isn’t that much more per month than a $25,000 policy. So, do what you can to protect yourself and your family—make sure you are carrying a high amount of UM/UIM coverage on your policy.
Stay Safe, Christine