Posted on behalf of Henness & Haight on Aug 20, 2015 in Insurance News
It's surprising how often personal injury attorneys are approached with questions regarding insurance coverage by their clients. "How much insurance coverage do I need to carry?" Really, the question is not how much coverage, but the kind of coverage you need to carry. Here's a quick overview of some extra coverage everyone should carry, and why.
Many people believe that if they have "full coverage," they are okay. However, this is a term that's used by the insurance industry and it does not mean you are covered for all eventualities. What it actually means is that you have the state minimum insurance, or liability. Liability insurance means that if you hit another driver and are at fault, your insurance will pay out their damages. It does not cover damage to your vehicle after a car accident, or personal injury you may suffer. More importantly, it does not cover you if you are struck by an underinsured or uninsured driver.
A lot of people have to make tough decisions regarding their insurance coverage. While it is illegal to drive without insurance, some folks feel as though they need to choose between insurance and putting food on the table. This means there are a lot of people on the Valley roads with an insufficient 15/30 policy, or even who are driving uninsured. In fact, it has been estimated that as many as 25 percent of people on the road are under- or uninsured drivers. This is a huge number, and even if it's overestimated, it paints a stark picture.
Too many people forego underinsured and uninsured coverage because of the additional costs to your premium that are associated with it. However, you should talk to your agent about it. You may find that this cost is not nearly as high as you think. It can be very affordable to carry this extra coverage, and from the standpoint of a personal injury attorney, everyone should carry it. This kind of coverage not only protects you, but everyone else in your vehicle when you are struck by an underinsured or uninsured driver. The coverage allows your insurance company to step into the picture and pay out the damages you suffer which would normally be paid by the at-fault driver's coverage.
Without this coverage, you have few options available to recover damages for your claim. Certainly your personal injury attorney can still obtain a ruling or agreement that you are owed money, but an underinsured driver may never be able to pay out what they owe. Even the best attorney might have trouble recovering damages for you in such a situation. This makes it very important for all drivers to carry underinsured and uninsured motorist coverage. With this kind of coverage, you have a safety net that you and your attorney can call upon in emergency situations. If you have been injured in a car accident in the Las Vegas region, we can help. Check out our auto accident page and contact us for a free consultation today.