Why Everyone Should Have Uninsured Motorist Coverage
Accident & Injury Car Accident Accident & Injury Personal Injury Accident & Injury
Summary: Everyone who has an insurance policy should have uninsured motorist coverage. The reason is simple. You pay hundreds of dollars per year for your auto insurance policy to protect others. Uninsured motorist coverage protects you and your loved ones.
Has anyone told you not to get uninsured motorist coverage
on an automobile insurance policy? It is
advice that I will convince you is dead wrong by the end of this article.
First, it is very likely that your bills from the hospital, alone, will exceed $25,000.00. The PIP coverage on your policy will pay 80% of medical expenses and 60% of lost wages up to a maximum amount of $10,000.00. The at-fault driver’s insurance will not pay for any of your medical bills. Remember he did not purchase bodily injury coverage on his policy. Likewise, it will not pay for pain and suffering or lost wages. Using my example, PIP will pay out $10,000.00, but you will be left holding the bag for the remaining money owed for your medical treatment. Even if you have good health insurance, this bill can quickly run into the thousands of dollars. Without good health insurance, it can force hardworking people into bankruptcy through no fault of their own. This is the result if you rejected the uninsured motorist bodily injury coverage on your policy.
If you purchased the uninsured motorist coverage, then your medical bills, pain and suffering and lost wages will be paid up the amount of the policy. Your uninsured motorist policy or UM policy will also kick in if the at-fault driver has insurance but is underinsured. At that point, your UM policy will pay the difference between the amount paid by the at-fault driver and your damages, up to the policy limits.
The big decision is how much automobile coverage should I purchase? I recommend maintaining coverage in an amount at least equal to your assets. Dave Ramsey recommends a policy of at least $500,000.00, regardless of your assets. If you maintain that level of insurance for your bodily injury policy that will care for the injuries suffered by others, you should maintain the same for yourself and purchase UM coverage in the same amount. Contrary to popular opinion, adding uninsured motorist coverage to your policy is not an extravagance and will not break the bank.
Have you been injured in a car or motorcycle accident? Contact an experienced
If you have been involved in motorcycle or car accident, you should immediately call The Law Offices of Bobby Jones at (727) 571-1333 during regular business hours or (727) 753-8657 on weekends or after regular business hours. We will evaluate your case for free and you will never pay us a dime unless we recover compensation for your injuries.
The Law Offices of Bobby Jones
6570 30th
Avenue North
http://bobbyjoneslaw.com/personal-injury/