I am going to make this blog short as I have preached about this subject a 100 times over. However, I still believe that this is one of the most important issues facing any personal injury claim stemming from a car wreck or a motorcycle accident.
In short, I settled a personal injury claim this week for the maximum insurance coverage on several different insurance policies. The problem is that the medical bills, incurred by my client even though he did not cause the wreck, exceeded the maximum amount of insurance we could recover. In addition, I spoke to a single mother who was very savvy on financial issues but rides a motorcycle regularly. So of course, I had to lecture her about the proper insurance coverage and how a serious motorcycle wreck could alter her financial planning. Lastly, I signed up a gentleman today that was able to return to work after the car wreck but I am concerned that his arm may be fractured and he may need surgery to one of his knees.
All these examples illustrate that if you are lucky enough to be hit by a UPS truck, a personal injury lawyer may be able to recover the maximum value of your pain and suffering claim. However, if you were hit by someone driving an 1980 Ford Pinto, even a good personal injury lawyer will be stretching a dollar bill in 30 different directions to recover a fraction of what your claim is worth.
Very simply, on every car or motorcycle insurance policy that you or your family has, make sure you have at least $100,000 per person of Uninsured and underinsured motorist coverage. While I practice law in Kentucky and Indiana, this advice really applies on a nationwide basis. Further, keep in mind that should you travel outside your home state and be involved in a car wreck, the protection of this insurance follows you. At the risk of sounding like a broken record, you need:
$100,000 per person of Uninsured Motorist Coverage;
$100,000 per person of Underinsured Motorist Coverage and;
$30,000 of no-fault or med-pay coverage.