When it comes to proper insurance coverage, there is one coverage that you really should not go without! That's "uninsured motorist" coverage. Santa Clarita accident lawyer Robert Mansour discusses why Uninsured Motorist Coverage is perhaps the most important insurance you can have on your car insurance policy.
In handling personal injury cases, I've really come to appreciate the importance of Uninsured Motorist coverage!
Uninsured Motorist (UM) Coverage protects you in the event the party at fault did not have insurance at the time of the accident. It is perhaps the most critical piece of insurance, and most people ignore it. The ugly reality is that MANY people driving out there do not have any insurance at all. Also, in these economic times, many have chosen to view insurance as a discretionary item, even though California law mandates basic liability coverage. Some folks simply forget to pay their premium, and their insurance lapses. Therefore, if you are injured in an accident, YOUR insurance company will compensate you for your medical bills and pain and suffering if the other party had no insurance. Otherwise, you may have nowhere else to turn.
However, even if the other party has liability insurance, many times it is inadequate. In that case, most UM Coverage policies also include something called Underinsured Motorist (UIM) coverage. Did you notice that? It says "UNDER-insured." That means your UIM coverage will cover you if the other party's insurance was inadequate. That happens more often than you might think given that the bare minimum people need to get is $15,000 in liability insurance. There are so many people out there with the bare minimum, and that will not be enough if you have a serious injury. You may end up with nothing at all.
Most people I talk to don't really know if they have UM/UIM coverage on their policies. Some folks think their insurance company is trying to "upsell" them into something they don't need. I explain to them that in this day and age, UM/UIM coverage is VERY important. Also, your insurance company is more likely to be generous and fair with you in most cases because they owe you a fiduciary duty. The other party's insurance company doesn't owe you the same duty! Heck, they may not even return your phone calls! Take a look at your policy "declaration page" and see if you have it or not. Better yet, call your insurance professional.
How much UM/UIM coverage should you get? Consult with your insurance professional, but in my opinion, get as much as you can without breaking the bank. You may also want to explore an umbrella policy as well. If you or someone you know is involved in a serious accident, please consult an experienced attorney to get an opinion and act quickly because everything you do post-accident can be critical.
