Car Accident Lawyer
Underinsured motorist coverage is that part of your own auto insurance policy that covers you in the event that you’re hit by a driver whose insurance policy coverage is insufficient to pay the total amount of your personal injury and property damage costs. In other words, he or she is underinsured. A car accident lawyer can be of assistance if you are ever in a car accident involving an underinsured driver, or you are underinsured. Read on to learn our friends at Hall-Justice explain the various goals of underinsured motorist coverage.
It goes without saying that no insurance company pays more than the limit of one of its policies. Therefore, if, for instance, the driver who hit you has a $50,000 bodily injury policy, you cannot expect to receive more than $50,000 from his or her insurance company, even if your injuries result in a higher amount of personal injury damages. Depending on the amount of your own policy’s underinsured motorist coverage, you may be able to recover this excess amount from your own insurance company.
State Insurance Requirements
Each state has its own auto insurance requirements. Depending on the state in which you live, you may not be required to carry uninsured/underinsured coverage, but all states require all insurance companies operating within them to at least offer it to you. Then you make your own decision regarding whether or not to buy this extra coverage. Obviously, it’s in your best interests to do so.
How Underinsured Motorist Coverage Works
Usually, the amount of your uninsured/underinsured coverage mirrors the amount of liability coverage you carry. Consequently, if you choose to carry only the minimum amount of auto insurance your state requires, your underinsured motorist coverage, even on top of the other driver’s coverage, may not pay for all of your personal injury and property damage expenses associated with your accident.
If you find yourself facing such a situation, you likely should hire an experienced car accident lawyer. Why? Because he or she may be able to discover that the other driver has assets that can be liquidated to pay your entire personal injury and property damage costs if you sue him or her and win your lawsuit. Or he or she may be able to determine if the other driver was acting in an employment capacity when he or she hit you. If so, you likely can sue the company for which he or she works.
In addition, an experienced local car accident lawyer will undoubtedly be thoroughly familiar with the laws of your state regarding personal injury lawsuits, the applicable statute of limitations for filing one, and the procedures which you must follow.