One of the most vital aspects of owning an automobile is properly protecting yourself from the unexpected. Accidents can happen at any time, and often those accidents are not your fault. When you suffer serious injuries in an automobile accident, you have the option of suing the driver responsible for those injuries.
If you do choose to sue, the most you may recover from the liable driver is the maximum limits of the liability coverage he or she has paid for under his or her own automobile insurance policy. Under current laws, drivers can take to the roads with as little as $15,000 in liability coverage. Recovering such a small amount from the liable driver could leave you with little to no compensation for the physical, mental, and monetary damage caused.
When the liable driver's insurance company agrees to pay the full amount of the insurance policy prior to a trial, the injured driver must sign a release which lets the liable driver off the hook without having to pay any additional fees. In cases like these, the only alternative you have is to file a claim with your own automobile insurance company for underinsured or uninsured coverage.
Uninsured motorist coverage protects you if you're in an accident with an at-fault driver who doesn't carry liability insurance. Underinsured motorist coverage protects you when you're in an accident with an at-fault driver whose liability limits are too low to cover damage or medical expenses. If you decide not to pay a higher premium on your own car insurance to include these types of coverage, you are at risk of having little to no compensation for the injuries you have sustained in an accident.
Remember, when purchasing underinsured or uninsured coverage on your own insurance policy, you are limited to purchasing coverage equal to or below the amount of liability coverage you choose to carry on that policy. For example, if you purchase liability insurance coverage of $15,000, you are limited to only buying $15,000 in underinsured and uninsured coverage.
Make sure you are part of the solution and not the problem. Purchase an amount of liability insurance and underinsured or uninsured coverage that will adequately protect you and others from the unexpected.