Personal injury attorneys who represent auto accident victims routinely square off against attorneys hired by insurance companies to defend the at fault motorist in a lawsuit. Here's a secret that both we personal injury and insurance company attorneys know: we all carry high amounts of Uninsured/Underinsured Motorists' coverage. Ask any one of these attorneys what kind of coverage they carry, and the typical amount will be around $500,000--minimum.
There is a simple reason for this: all of us see case after case where (1) accidents victims were seriously injured, and the at fault motorists had (2) no liability insurance, or (3) minimum or low amounts of liability coverage, meaning that there was not enough coverage to compensate injured victims for all their losses. And all too often, auto accident victims did not have enough uninsured/underinsured motorist (known as UM/UIM) coverage with their own insurance comapny to protect them from irresponsible drivers with little to no liability insurance. If you have high levels of UM/UIM coverage, you could make a claim against your own insurance policy for the difference bewteen what your claim is worth, and the at fault driver's insurance.
EXAMPLE: You are seriously injured in a crash and your claim is worth $300,000. The at fault driver had Ohio state minimum limits of $12,500. If you had $500,000 in UM?/UIM coverage, you could collect $12,500 from the at fault party's insurance and $287,500 from your own insurance company under your UM/UIM coverage.
Now you know why we carry high levels of of UM/UIM coverage.
Here's another secret: we know that it is cheap to purchase high amounts of this coverage. Typically you can increase your UM/UIM coverage from $100,000 to $500,000 for around $150.00 per year ballpark, and maybe even less than that.
In my book, Fully Exposed: How Auto Insurance Companies Are Stripping Your Auto Policy, I explain the importance of this coverage, how you can intelligently purchase it, and all the RIGHT questions to ask your agent or companny.
It's free to all Ohioans. Just click on the book cover and fill out the contact information.