Car accidents involving an uninsured driver
On Behalf of The Law Offices of Goldfine & Bowles, P.C.
August 17, 2017
Car accidents can be stressful and scary enough without the complications of dealing with being underinsured or uninsured. This situation can become very complex and lead to a more time-consuming and expensive process, even if the car accident is a minor one.
This blog will offer a brief overview into how Underinsured Motorist Property Damage Coverage might be able to help you in a situation where you crash your car with not enough insurance to cover the costs.
What is Underinsured Motorist Property Damage Coverage?
In many cases, in the context of insurance coverage, being underinsured and uninsured is largely the same thing. In some states, getting underinsured motorist coverage will limit you to certain basic benefits, such as medical expenses, covering lost wages and other injury-related costs. But many other states, including Illinois, require that any uninsured motorist property damage policy must include covering the driver with at least $25,000 in damages.
How does it work?
If you are not the at-fault driver, then your underinsured motorist coverage must be higher in its limit than the at-fault driver’s own insurance coverage. If it is not as high, then you would only recoup the capped amount of the at-fault driver’s coverage, even if in theory you are owed more for damages.
Do you need extra coverage?
As long as you have basic collision insurance, then you probably don’t need any extra insurance. However, a big consideration is the value of your vehicle. If you had previously decided that you should take risk of being an uninsured driver, then you should weigh up your possibilities.
Source: Findlaw, “Underinsured Motorist Property Damage Coverage and Claims,” accessed Aug. 17, 2017