Although there are legal requirements in 49 states, many drivers in the US do not have automobile insurance. Approximately 1 out of 8 drivers does not have car insurance, and if you are involved in an automobile accident with one of these uninsured motorists, you could be faced with a huge financial debt from personal and property damage. Some states require that insurance policies contain uninsured motorist coverage and include it in every policy. There are three basic kinds of protection for uninsured motorist coverage. These are:
- Uninsured Motorist Insurance, also known as Uninsured Motorist Bodily Injury (UMBI) insurance – This type of coverage will pay for your and your passenger’s medical bills if you are involved in a car accident with an uninsured, at-fault driver. It also covers lost wages for you and your passenger and provides coverage if you are a pedestrian who is hit by an uninsured motorist or the victim of a hit and run accident.
- Uninsured motorist property damage (UMPD) coverage – This type of uninsured motorist insurance will cover bodily injury but will not cover property or vehicle damage. To buy this, you must first have UMPD coverage which covers damages to your vehicle caused by an uninsured driver and damage to other personal property such as a fence or your house.
- Underinsured Motorist (UIM) coverage – This type of coverage applies when the at-fault driver has liability insurance, but the policy fails to cover the full extent of the damage to your vehicle.
The best way to protect yourself is to buy uninsured or underinsured motorist coverage. It will take the place of an at-fault driver’s inadequate or missing insurance coverage. This is an important feature since your own liability insurance may not pay for injuries to you or your passengers if you are not at fault. Without insurance, you may have to pay for your losses or go to court to sue the other driver for damages.
If you have been involved as a pedestrian or motorist in an accident and have suffered serious injuries and property damage, you will need an experienced and skilled attorney to assist you in recovering compensation. The attorneys at Jacoby & Meyers, LLP NY have been helping individuals just like you for decades and we know exactly what to do. Call us at 877-504-5562 or email [email protected].