December 18, 2017
Most drivers would likely assume that by having some sort of comprehensive insurance policy, they are covered for anything that might come their way. In reality, there are particular circumstances looming that could leave you without coverage this holiday season. Just like when you are driving on the road, the most important thing one must worry about is other drivers. For instance, say you are involved in a car accident that is not your fault. In most cases, one would assume that everything will be okay because the at-fault driver's policy will take care of everything. But say the other driver flees the scene and you are unable to identify them or their vehicle. Or say the other driver has no insurance and no assets worth obtaining in a lawsuit. You may be out of luck in this situation, unless you have an Uninsured Motorist policy, or UM.
Uninsured motorist coverage protects you if you're in an accident with an at-fault driver who doesn't carry liability insurance.
Underinsured motorist coverage protects you when you're in an accident with an at-fault driver whose liability limits are too low to cover your damage or medical expenses. The at-fault driver's insurance will typically pay for all damages up to the policy limits, and then your underinsured motorist coverage will cover the excess amount up to the limits you select.
Like liability insurance, uninsured and underinsured motorist breaks down into 2 coverage types: bodily injury and property damage.
Uninsured/underinsured motorist bodily injury coverage (UMBI) covers medical expenses, lost wages, and injury-related expenses for you, any permissive drivers, and your passengers. It can also provide coverage for injuries sustained in hit-and-run accidents.
Uninsured/underinsured motorist property damage coverage (UMPD) provides coverage If your car is damaged in an accident with an uninsured or underinsured driver. Unlike UMBI, this coverage doesn't protect against damage caused by hit-and-run collisions.
In the state of Ohio, UM/UIM coverage is not required. It is not a part of any minimum coverage policy. Therefore, it is always important to talk to your insurance company about your policy, and what adding this type of coverage might cost. For a few extra dollars a month, you could save yourself a whole lot of headache in the event of an accident with someone who is not insured. And as always, in the event of an automotive accident, it is important to contact an experience personal injury attorney who can help you navigate the complexities of your insurance policy and negotiate with adjusters to ensure that you are fairly compensated.
Attorney Jacobs believes that everyone deserves a lawyer and always strives to achieve the best available legal outcomes for his clients. Attorney Jacobs cannot make promises as to what legal outcome he will be able to achieve for his clients; however, Attorney Jacobs can promise you that the care and concern he will show for you and your legal needs will be second to none. If you sustained a personal injury, the law firm of Daniel L. Jacobs Jr. LLC and Attorney Jacobs are here to assist you.
If you have any questions about financial compensation for an injury sustained in an accident or during a medical procedure, schedule a free consultation with one of our attorneys.
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