If another driver hits your vehicle, it is NOT safe to assume that the at-fault driver’s insurance will cover the cost of your medical bills, lost wages, and other damages sustained from the crash. What if it turns out you were in a wreck with an underinsured motorist and the responsible party doesn’t have ENOUGH insurance? Are you stuck with the bill?
Getting in a car wreck with an underinsured motorist—one without enough insurance coverage to pay for the damages he or she causes—happens a lot. With the Department of Public Safety reporting that a traffic collision occurred every 4.4 minutes and an injury collision occurred every 15.4 minutes in 2014, it’s important to keep yourself covered with plenty of Underinsured Motorist Coverage, known in the car insurance industry as “UIM”.
Put simply, underinsured motorist insurance helps cover the difference when an at-fault motorist’s policy limits are too low to compensate you for all the injuries and damages sustained during a crash. While UIM is not required in the state of South Carolina, it is required that insurance companies make a “meaningful offer” of UIM coverage when you apply for a policy, so be sure to assess all your options and make an informed decision when determining how much coverage you need. UIM is a critical component to keep yourself covered, and premium amounts for this additional insurance are typically quite affordable—especially when the cost of not have underinsured motorist insurance can be so great.
If you’ve been injured in a motor vehicle accident or have questions about underinsured motorist coverage, the attorneys at Yarborough Applegate are committed to getting you the help you need. Contact us to learn more.
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