New York law requires all auto insurance policies to provide uninsured motorists coverage for bodily injury; however, like regular insurance, it is subject to minimum benefits. If you have uninsured motorist coverage and you get into an accident with an uninsured motorist, you may encounter serious problems trying to collect compensation from the insurance company. Here are 3 critical reasons to have uninsured motorist coverage and supplementary uninsured / underinsured motorist coverage.
NOT ALL DRIVERS HAVE INSURANCE
The state requires insurance companies to provide uninsured motorist coverage because everyone knows there’s at least one person out there who thinks they’ll never need insurance. Because of these individuals, people who have insurance only have their own policy to rely on. As many as 28% of drivers in some states don’t have insurance, so many people are statistically likely to be involved in an accident with some of them.
ACCIDENTS ARE EXPENSIVE
Even if policies come with uninsured motorist coverage, many companies also offer supplemental coverage for uninsured and underinsured drivers. Underinsured drivers are individuals who only pay for the bare minimum of insurance required by the state. While they are being responsible, the minimum amount of coverage is unlikely to be helpful in situations involving catastrophic levels of damage. For example, New York law requires motorists to carry a minimum amount of $25,000 for bodily injury to one person. If a person becomes paralyzed as a result of an accident, that $25,000 will likely only cover hospitalization and surgery. The person will also need rehabilitation, changes to his or her home structure, and potentially lost wages for the rest of his or her life. Underinsured coverage isn’t enough.
COVERAGE ISN’T THAT EXPENSIVE
Adding this type of coverage to your policy shouldn’t make a massive dent in your paycheck compared to what you already pay. Likewise, it will save you thousands of dollars later if you are injured in an accident by an uninsured or underinsured driver and need to pay costs out-of-pocket because you didn’t have coverage for the event.
If you were injured by a negligent driver, don’t hesitate to give our skilled Rochester car accident attorney a call. He is dedicated to helping the victims of personal injury seek compensation for their injuries. Let us see what we can do for you.
Contact us at (585) 270-8882 or fill out our online form to schedule a free case consultation today.