For over two decades, Kevin P Landry Law Offices has been serving the Fall River community. One surprising fact we’ve encountered is that many drivers in Fall River, MA are unaware of the importance of Uninsured Motorist Coverage. Lacking this crucial information can leave them vulnerable in the unfortunate event of an accident involving an uninsured driver.
What is Uninsured Motorist Coverage?
Uninsured motorist coverage is designed to protect you financially if you are injured in a car accident caused by a driver who doesn’t have insurance. This coverage can help pay for medical expenses, lost wages, and other damages that result from the negligence of an uninsured driver. It’s also incredibly useful in situations where you are the victim of a hit-and-run accident.
Despite Massachusetts being a state that requires mandatory car insurance, there are still many uninsured vehicles on the road. According to the Insurance Research Council, approximately 3.9% of drivers in Massachusetts are uninsured. This can occur for various reasons, such as drivers not realizing their insurance has lapsed, or individuals driving without insurance due to financial constraints. Additionally, drivers from states where motorist insurance is optional might not carry coverage when driving in Massachusetts.
When Should You Consider Increasing Your Uninsured Coverage Limits?
If you or a loved one are injured by a hit-and-run driver, having sufficient uninsured motorist coverage can ensure you receive compensation from your own insurance company. For instance, if an accident leaves you unable to work for six months or more, uninsured motorist coverage can help cover your lost wages during this period.
When Might You Not Need to Increase Uninsured Coverage Limits?
If you already have a comprehensive disability income policy, you might not need to purchase additional uninsured motorist coverage. Since both types of coverage can provide similar financial support in the event of an accident, increasing your uninsured motorist coverage might not be necessary.
What is Underinsured Motorist Coverage?
Underinsured motorist coverage is slightly different from uninsured motorist coverage. This type of coverage is beneficial when the at-fault driver has some insurance, but not enough to cover all your expenses. For example, if the at-fault driver’s policy covers $50,000 per person and your medical bills and lost wages amount to $60,000, their insurance won’t fully cover your costs. However, if you have underinsured motorist coverage with a limit of $150,000 per person, your insurance would cover the remaining $10,000.
Why Underinsured Coverage is Essential
Consider the scenario where you or a family member is injured in an accident and the at-fault driver has minimal insurance coverage. Many drivers only carry the state minimum, which might be around $20,000 per person and $40,000 per accident. These limits could be insufficient, especially if multiple people are involved in the accident. Would $20,000 be enough to support you for a year if you can’t work due to your injuries?
Additional coverage is especially crucial if you have dependents or if a loved one relies on your income. Even if you have a good disability income policy, underinsured motorist coverage can provide additional security and peace of mind.
How to Handle Uninsured/Underinsured Motorist Claims
If you are involved in an accident with an uninsured or hit-and-run driver, contact your insurance company immediately to file a claim. Be aware that insurance companies often have strict deadlines for filing uninsured claims, sometimes as short as 30 days, so prompt action is essential.
Underinsured motorist claims might take longer to resolve, as the full extent of damages and medical costs need to be assessed over time. It may not be immediately clear that an underinsured claim is necessary until your lawyer evaluates the total costs associated with your injuries.
The process for an underinsured claim in Fall River is similar to a standard car accident claim, with the primary difference being that the claim is filed against your own insurance policy. If negotiations with your insurance company fail to reach a satisfactory outcome, you can seek resolution through binding arbitration instead of suing.
Consult a Fall River Car Accident Lawyer
If you’ve been involved in an accident with an underinsured driver in Fall River, you don’t have to navigate this challenging process alone. Contact Kevin P Landry Law Offices at 508-775-1660 or visit our Fall River office today for a free initial consultation. We are here to help you get the compensation you deserve.
