The Insurance Research Council estimates that 1 out of every 7 drivers in the United States is currently uninsured. Nevertheless, we frequently see clients who fail to recognize the importance of securing sufficient uninsured motorist (UM) and underinsured motorist (UIM) coverage before it is too late. As a result, serious and even catastrophic injuries are not adequately compensated.

What Exactly is UM/UIM Coverage?

UM and UIM coverage protects you and the passengers in your car if you are injured in an accident due the negligence of someone who is either uninsured or underinsured, the latter being drivers who meet the minimum legal financial responsibility requirements but do not have sufficient insurance coverage to pay for the damages they have caused.

NY Minimum Insurance Limits

Although bodily injury coverage is mandatory in New York, the state minimum limits are only $25,000/$50,000, $25,000 per person with a maximum of $50,000 per loss (the limits raise to $50,000/$100,000 if there is a fatality). What this means is that, regardless of the extent of your injuries and even if your injuries are worth far more, the most you can receive in compensation under this policy is $25,000.

UIM Coverage Can Make a Big Difference

However, if your UIM limits are higher than that of the car that struck you and caused your injuries, then you can pursue additional compensation through your own policy. For example, if you chose to have $100,000 in UIM limits and were injured in an accident where the other vehicle’s owner had only the minimum $25,000 bodily injury limits, you are able to pursue a UIM claim. If your injuries were worth $100,000 you could receive $25,000 from the at-fault party’s insurance company and an additional $75,000 from your own insurance company through the UIM coverage. ($25,000 + $75,000 = $100,000).

Coverage is Affordable

UM/UIM coverage is generally very inexpensive and protects you and your family from drivers of vehicles that either do not have adequate insurance or fail to have insurance. I would highly recommend that you follow up with your insurance agent to go over your UM/UIM limits and make sure that you and your family are adequately protected.

Schwartzapfel Lawyers P.C.

If you have been involved in an accident and believe that you may have a personal injury claim, contact the attorneys at Schwartzapfel Lawyers P.C. for legal counsel and representation. Our attorneys have helped thousands of clients obtain the money and benefits they deserve for injuries that were not their fault, and, with over 150 years of experience, have the expertise and knowledge to evaluate and organize your case. Contact us today by calling 1-888-575-6410 or by filling out our convenient online contact form.