No one anticipates ever getting into a car accident but planning for one doesn’t hurt either. It’s important that you obtain uninsured motorist coverage to protect yourself. Approximately seven million car accidents were reported in the United States in 2019.
Statistics indicate that drivers in the United States can expect to get into at least three or four accidents in their lifetime. Therefore, there is a high probability that if you haven’t gotten into a car accident, you eventually will, and getting uninsured motorist coverage can help you stay prepared.
However, the best way to prepare for an accident is to prevent one. Unfortunately, it’s not possible to control what other drivers do on the road. If you’ve been involved in an auto accident as a result of someone else’s negligence, contact our Fall River auto accident attorney for a free initial consultation.
What is Uninsured Motorist Coverage?
Uninsured motorist coverage helps you pay for damages caused by a driver who doesn’t have auto insurance coverage. According to a report by Insurance Research Council, one in 8 drivers is uninsured. In Massachusetts, 3.5% of drivers are uninsured.
It is illegal to drive a car in the state of Massachusetts without insurance and penalties include $500-$5000 fine or maximum imprisonment of one year. Drivers who don’t buy insurance do so because:
- It’s expensive. There is a direct relationship between the strength of the United States economy and the number of uninsured drivers on the road. Americans spend approximately $1, 099 on car insurance per year. Not everyone can afford this especially with the rising cost of living. Other things such as utilities can take priority over car insurance.
- It’s a hassle to find the best insurance premium. Drivers get overwhelmed by all the premiums they see and they feel it takes too much time to go through all of them.
- They don’t understand the complicated jargon. It’s very difficult to convince a person who doesn’t understand a product to buy it.
- They don’t trust the insurance agents. Most times agents will try to sell a premium that doesn’t suit a driver’s bill. Consequently, the driver will feel like the agent is only trying to make bank and not necessarily show them options that satisfy their needs.
Uninsured motorist coverage can cover:
- Present and future medical expenses
- Pain and suffering
- Lost wages
- Future loss of earning potential
Advantages of Obtaining Uninsured Motorist Coverage
The biggest advantage is that you will be protected after an accident even if the other driver is uninsured. Massachusetts is a no-fault state but there is a possibility that you might exhaust your PIP coverage before you can fully pay for your medical expenses. Uninsured motorist coverage ensures that you do not suffer financially due to the negligence of another driver.
You can also leverage what is known as “stacking”. This simply means that you can combine coverage limits if you have different cars into one higher limit in order to get greater protection. For instance, if you have five cars and for each car, you buy a $2,000 policy limit, you can stack the policy so that you have $10, 000 coverage.
Disadvantages of Obtaining Uninsured Motorist Coverage
The only disadvantage of buying uninsured motorist coverage is the fact that you will have to pay an additional monthly premium. However, it’s better to have peace of mind than to save a couple of dollars and not have coverage when you need it. Talk to your insurer and find out how much your premium will be when you purchase the coverage.
Do You Need Uninsured Coverage if You Have Health Insurance?
In Massachusetts, you are required by law to purchase uninsured motorist coverage. However, health insurance doesn’t have the same coverage as UM. Health insurance will pay for your medical bills even if the accident was your fault. However, health insurance will only cover your bills up to your limit.
UM coverage, on the other hand, covers your medical bills, those of the other car occupants at the time of the accident, and compensates you for car damage and lost wages.
Talk to a Fall River Auto Accident Attorney if You’ve Been in an Accident with an Uninsured Motorist
It’s important to consult an experienced auto accident attorney in Fall River if you get into a car accident with an uninsured motorist. They can work with your insurer to ensure that you get the compensation that you deserve. Get in touch with us today and schedule your free initial consultation.
