The Importance of Carrying Uninsured and Underinsured Coverage on Your Insurance Policy
When you take out an auto insurance policy, you should strongly consider adding uninsured or underinsured coverage to your policy. You never know when you could be hit by another driver who doesn't have insurance. The following are some things you should know about uninsured or underinsured coverage on your insurance policy:
What Is Uninsured or Underinsured Coverage?
Both uninsured and underinsured coverage is there to protect you in the event you are hit by a driver who has no insurance or who does not carry enough coverage to pay for all of your damages. Underinsured drivers essentially have the bare minimum required by law for insurance coverage, but it might not cover all of the damages. If you are hit by someone who has little-to-no coverage, you need these additions to your policy to ensure you can receive enough of a settlement to cover your monetary losses, or as close to them as possible.
What If You Don't Have Additional Coverage?
If you do not currently have uninsured or underinsured driver coverage on your insurance policy, you may find difficulty in getting the bulk of your damages compensated. You could end up paying for most of your damages yourself if you do not receive a payout from either your or the other driver's insurances.
Can You File a Personal Injury Lawsuit?
If you have exhausted your options with the insurance carriers, your other option is to file a personal injury lawsuit against the driver. You first have to provide proof that the driver was negligent and liable for the accident. If you decide to go this route, you need a reputable personal injury attorney to help you.
Keep in mind that if you win, it may be some time before you can receive a payment. The court will have to go after the other driver for the settlement. In some cases, the negligent driver can file for bankruptcy and wipe out any court claims anyone had against him or her, which means you would not see any money. This is why carrying the added insurance is so important in the long run.
If you have questions about a car accident and how you can move forward with making a claim against the negligent driver, be sure to call a local personal injury attorney to get started. This is more beneficial than trying to pursue the insurance on your own.