We all know how important it is to have insurance for our vehicles. It’s an important layer of protection should you suffer damage to your car that’s not covered by someone else. It enables you to get repairs, and even provides you a range of services to help you get payment from other insurance companies.
However, what isn’t certain to a lot of people is how much coverage to have. Far too many drivers forego underinsured motorist coverage, only to find out all too late that this kind of policy would’ve been essential in the accident they just suffered. Explore the reasons you need to have underinsured motorist coverage, and how a Columbia car accident lawyer can help your personal injury case.
Underinsured Driver Coverage
When you’re hit by another driver, generally speaking, it’s their responsibility to pay for the damages to your vehicle and your person. These can get very expensive, ranging from hospital bills and vehicle damage to lost wages, pain and suffering and more.
The trick is, the other driver’s insurance company will only pay out up to the limits of their policy. That means if you have a $300,000 settlement, but the other driver only has $100,000 of coverage, you’ll only get a third of your settlement. Underinsured driver coverage offsets the rest.
How This Coverage Works
The moment you get the thought that the other driver’s insurance policy may not have enough to cover your damages, you need to inform your insurance company. Many insurers place a time limit on settling for these policies, so it’s important to act fast. If the damages exceed the coverage of the other driver, and your coverage is greater than the policy limits of the underinsured driver, you can collect the remainder of your policy’s limit.
Thus, in the above scenario, let’s say you have $200,000 in underinsured motorist coverage. After you collect $100,000 from the underinsured driver, you can then collect an additional $100,000 from your policy. Remember, you can only collect the difference between your maximum and the responsible party’s maximum.
How a Columbia Car Accident Lawyer Helps
Any car accident case can be complex, and you’ll need the best legal help to make sure you get the full compensation you deserve. While underinsured accident coverage can be essential to getting you the income you so badly need to get well again and get back on your feet, you want to make sure that you’ve got someone in your corner who is qualified to get you the maximum compensation to which you’re entitled, and that’s a Columbia car accident lawyer.
If you’ve been in an accident and are facing non-payment tactics like bullying, deflection of responsibility or any other typical insurance company tricks, you don’t have to go it alone. We have decades of experience helping people just like you get the compensation they need to regain control of their lives and get back on their feet. Contact a South Carolina car accident attorney at Harris & Graves, P.A. and receive a free, no-obligation consultation regarding your case today.