Kevin P Landry Law Offices has been operating for more than twenty years and we have found that most drivers in Hyannis, MA do not know that Uninsured Motorist Coverage exists. As a result, they do not have valuable information they could use in the event an uninsured motorist injures them.
What is Uninsured Motorist Coverage?
Uninsured motorist coverage can pay for lost wages and medical expenses in the event that an uninsured driver injures you in a car accident due to their own negligence. It also comes in handy when you are the victim of a hit and run accident.
Massachusetts might be a mandatory insurance state but the number of uninsured cars on our roads today might surprise you. According to Insurance Research Council, 3.9% of drivers in Massachusetts are uninsured. A large number of these car owners don’t have insurance because they do not pay for it and continue to drive because they don’t realize their coverage has been cancelled or they feel they have to. Other drivers are from states where getting motorist insurance is optional.
When do You Need Increased Limits of Uninsured Coverage?
- In the event that you or a loved one has been injured by a hit and run driver, it would be helpful if you could get compensation from your own insurance carrier.
- If you get into a car accident with an uninsured driver or a hit and run driver and you aren’t able to work for 6-12 months, you can be compensated for lost wages by your insurance carrier.
When Should You Not Increase the Limits of Uninsured Coverage?
You might not need to purchase additional coverage if you have a solid disability income policy. Uninsured motorist coverage is similar to disability insurance so you don’t need to purchase more coverage.
What is Underinsured Motorist Coverage?
Underinsured motorist coverage differs from uninsured motorist coverage in that underinsured coverage pays for medical bills in the event the driver at fault has little insurance. If, for example, the at-fault drive has a policy limit of $50, 000 per person and your lost wages and medical bills amount to $60, 000, the at-fault drivers insurance coverage obviously won’t cover all your expenses. But if you have underinsured coverage of $150, 000 per person, the other driver’s insurance will pay you $50, 000 and your own policy will pay you the rest.
Why You Need Underinsured Coverage
Many people have limits of $40, 000 per accident and $20, 000 per person. And you may need to share the $40, 000 limit with three or four people. Is $20, 000 or even $10, 000 enough to help you survive for one year if you are unable to work because of your injuries?
What if your child or another family member got into a car accident and the at-fault driver does not have enough insurance to pay for their injuries? Additional insurance coverage would definitely help in such a situation.
Just like uninsured coverage, you might not need underinsured coverage if you have a solid disability income policy.
How Does an Uninsured/ Underinsured Claim Work?
If you or a loved one was hit by an uninsured or a hit and run driver, you should contact your insurer as soon as possible to inform them that you need to file an uninsured claim.
Some insurers have strict deadlines so don’t delay notifying them of a potential uninsured claim. Some have deadlines that are as brief as 30 days.
Underinsured driver claims usually take a while to develop. Until you and your lawyer are able to estimate the value of your case and until your medical treatment progresses, you are not going to find out right off the bat that you are going to have an underinsured driver claim.
An underinsured claim process in Hyannis progresses the same way as a standard car accident claim. The only difference is that the claim is against your insurance company. It’s also important to note that if you and insurer fail to come to an agreement, you cannot sue them. You can, however, submit your claim to a binding arbitration.
Talk to a Hyannis Car Accident Lawyer