Why do you need to look into your uninsured motorist and underinsured motorist coverage on your own automobile insurance coverage?
The laws of Kentucky and Indiana only require that a person have $25,000 per person in insurance coverage. It’s extremely important that you have on your automobile insurance policy, and your motorcycle insurance policy if you own a cycle, a substantial amount of uninsured motorist and underinsured motorist insurance coverage also known as UM/UIM.
Why do you need uninsured motorist and underinsured motorist insurance? The other guy was at fault so is he not responsible for all my medical bills from this wreck? I can sue the at-fault driver in an effort to obtain a judgment against him that states he owes all of your medical bills and the value of your pain and suffering claim. However, a judgment is a piece of paper that says he owes you money; nothing more. You have to collect on that judgment, through garnishments and foreclosures, for it to have any value.
If the at-fault driver has no assets to his name, that judgment is of little value.
The law requires all drivers in Kentucky and Indiana to have at least the state minimum of car insurance. Unfortunately, many people we share the road with still drive without insurance. Uninsured Motorist protects you and allows you to recover for your injuries as well as repairs to your vehicle if you are hit and injured by an uninsured motorist.
Underinsured motorist coverage lets me make a claim against your own insurance policy for the amounts not covered by the at-fault driver’s insurance. In other words, assuming the value of your personal injury claim is high, I can recover all the insurance coverage on the at-fault driver and then make an underinsured motorist claim against your own policy for the amounts not recovered initially.
Whether underinsured coverage applies and whether you took the proper steps, required by Indiana and Kentucky statutes, to preserve this claim, is a complicated question.
As a result, I would ask you again to contact me so that we can make sure your personal injury claim is properly evaluated before any steps are taken that might impact this claim. I can be reached on my cell phone at (502) 609-7657. I highly recommend you maximize your policy limits for uninsured motorist and underinsured motorist coverage or UM/UIM. This is some of the least expensive insurance you can buy, and as you can see its some of the most valuable insurance you can carry.
You have friends telling you to contact their attorney, insurance companies telling you don’t need a lawyer and twenty injury attorneys on television promising you checks.