Uninsured/Underinsured Motorist Coverage

Astoundingly, many individuals drive without auto insurance coverage. Furthermore, many insured drivers only opt for state minimum liability limits. In Ohio, these limits currently stand at $25,000 per individual and $50,000 per accident.

That means that if one person is injured, the most insurance available is $25,000. If two or more people are injured, the most insurance available is $50,000, which would have to be divided among all of the injured parties.

If you are seriously injured in an automobile accident, and an emergency medical services team takes you to the emergency room, your medical bills could exceed $25,000. If you receive additional medical care and treatment, there is no question that your medical bills will exceed $25,000.

How do you protect yourself from this dilemma?

The answer is that you should purchase uninsured/underinsured motorist coverage from your own automobile insurance company. Here is the catch: you have to ask for it. Many insurance agents won’t even tell you it is an available option. But if you ask for it, they will provide you with the coverage levels and the premium rates.

How Much Insurance is Enough Insurance?

I recommend we all have at least $250,000 per person / $500,000 per accident of uninsured/underinsured motorist coverage. If you select this coverage, you could also purchase a $1,000,000 personal umbrella policy containing uninsured/underinsured motorist coverage.

Again, you must expressly tell your agent you want uninsured/underinsured motorist coverage on your umbrella policy. If you don’t, you won’t get it.

Insurance companies don’t like uninsured/underinsured motorist coverage because they know it creates exposure for them. The insurance industry knows that many drivers are out there without insurance or with inadequate limits. Since it creates exposure, the insurance companies won’t tell you about it unless you ask.

Protect Your Family: Get Insured

If you or a family member are seriously injured in an accident, you’ll want to ensure there’s protection. Getting properly insured is the only way, and it may be the most important purchase you ever make.

To learn more about how you and your family can be better protected with proper motorist coverage, contact Erney Law today to schedule a free consultation.