Join our newsletter.

What is Underinsurance and Uninsurance?

In the last couple of years people have been trying to save money by reducing the amount of insurance they carry.

Combined with the fact that many people have little money or assets to seize, we are now facing a scenario where people can drive risk-free without any concern for the damage they cause on the roadway. Drivers are not concerned about being sued, since you can’t get blood out of a stone.

The last few suits that I have been involved in dealt with this very scenario. It’s hard to tell someone who is facing a lifetime of pain that there is little money to be recovered to ease their financial burden.

But there is something that you can do: purchase or increase your underinsurance and uninsurance coverage. These coverages can be found on the Declaration Page of your auto insurance policy.

 

If you have this coverage, you can apply for this money should you be struck and injured by an uninsured driver or one who carries very little insurance. Recently we were able to get several hundred thousand dollars to an injured motorist struck and left at the scene by a driver with a suspended license and little insurance. It meant the difference between a comfortable future and one of uncertainty with mounting medical bills.

Everyone should check their policies. If you don’t have this coverage, get it. If you have it, make sure that you have at least $100,000 in coverage. It might cost more but when tragedy hits you will be glad you spent the money.

Related News & Articles

All parents consider their children’s well­being a top priority, and it is often the foremost thought on parents’ minds as they separate. Parents who are sensitive to children’s needs and can...

Why is it that so many of us leave this world without ever having written a living will? That’s actually a fairly easy question to answer: Very few of us like...

Bad things occasionally happen to good contract parties. Let’s assume you’ve done everything right in the negotiation process. You’ve been transparent about risk; honest about your capabilities; and pellucid in setting...

This is an unprecedent period of time as the COVID 19 virus continues to affect lives and businesses across our nation. There are many people who count on you every day;...

Every year, thousands of Pennsylvania residents either file a complaint or defend themselves in Small Claims Court. Often called a Justice of the Peace, Small Claims Courts in Pennsylvania are disigned...

Losing a loved one is a tragedy that requires space to grieve, and the last thing a family needs at that time is to deal with unexpected costs. However, there are...

Bucks County Family Court Takes Unprecedented Action in Face of COVID-19 Emergency – Families with Children Subject to Custody Orders Take Heed On April 8, 2020, President Judge Wallace H. Bateman,...

One of the most often asked questions in a Chapter 7 bankruptcy is “what will happen to my property?” The answer depends on whether the property is “secured” or “unsecured.” Unsecured...

Are you facing the challenging crossroads of financial instability due to addiction and the burden of credit card debt? You’re not alone. This article is here to help you navigate the...

The collateral consequences of a criminal conviction can last for years and have a detrimental effect on a person’s voting rights; gun rights; immigration status; eligibility for federal assistance programs (e.g.,...