Accidents happen. Sometimes they are caused by drivers who lack insurance or are underinsured. In such cases, an uninsured motorist (UM) insurance policy can provide much-needed protection for you and your family. As a New Orleans Truck Accident Attorney, we at Cueria Law Firm LLC understand the importance of having the right insurance coverage in place. In this article, we will discuss the benefits of UM insurance and why it is a sound investment for your family’s safety and financial security.
What is Uninsured Motorist (UM) Insurance?
Uninsured motorist insurance is a type of auto insurance coverage that protects policyholders if they are involved in an accident with a driver who does not have liability insurance or whose insurance is insufficient to cover the damages. It can also provide coverage in the event of a hit-and-run accident.
Primary Functions of UM Insurance
- Medical Expenses: UM insurance covers the medical expenses for you and your passengers after an accident with an uninsured or underinsured driver.
- Lost Wages: If you or your passengers are unable to work due to injuries sustained in an accident, UM insurance provides compensation for lost wages.
- Pain and Suffering: UM coverage compensates for the pain and suffering experienced as a result of injuries from an accident.
- Funeral Expenses: In the unfortunate event of a fatality, UM insurance covers funeral expenses for the deceased.
Importance of UM Insurance: A New Orleans Car Accident Attorney’s Perspective
As a New Orleans Car Accident Attorney, we have witnessed the devastating consequences of accidents involving uninsured or underinsured drivers. These accidents can result in significant financial burdens for victims and their families. UM insurance is crucial for the following reasons:
Financial Protection
UM insurance provides financial protection by covering medical expenses, lost wages, pain and suffering, and funeral expenses. This coverage ensures that you and your family are not burdened with the financial fallout from an accident caused by an uninsured or underinsured driver.
Legal Assistance
In the event of an accident with an uninsured or underinsured driver, an experienced New Orleans Truck Accident Attorney can help you navigate the complex legal process. The attorney will assist you in filing a claim with your insurance company, ensuring that you receive the compensation you deserve.
Mandatory Coverage in Some States
Some states require drivers to carry UM insurance as part of their auto insurance policy. Even if your state does not mandate UM coverage, it is still a wise investment to protect your family’s financial well-being.
How Much UM Insurance Do You Need?
The amount of UM insurance you need depends on several factors, such as your state’s minimum coverage requirements and your personal financial situation. It is essential to consult with an Attorney near me to determine the appropriate level of UM coverage for your specific needs.
State Minimum Requirements
Some states require drivers to carry a minimum amount of UM insurance as part of their auto insurance policy. These minimums vary by state and are typically expressed in terms of bodily injury coverage per person, per accident, and property damage coverage per accident.
Personal Financial Situation
Consider your personal financial situation when determining the amount of UM insurance you need. It is essential to have sufficient coverage to protect your assets and provide for your family’s needs in the event of an accident with an uninsured or underinsured driver.
Types of UM Insurance
There are several types of UM insurance available, each providing different levels of protection. Some of the most common types include:
- Uninsured Motorist Bodily Injury (UMBI): Covers medical expenses, lost wages, and pain and suffering for you and your passengers if injured in an accident with an uninsured driver.
- Underinsured Motorist Bodily Injury (UIMBI): Provides coverage when the at-fault driver’s insurance is insufficient to cover your medical expenses and other damages.
- Uninsured Motorist Property Damage (UMPD): Covers damage to your vehicle or other property caused by an uninsured driver.
- Underinsured Motorist Property Damage (UIMPD): Provides coverage when the at-fault driver’s insurance is insufficient to cover the damage to your vehicle or other property.
How to Purchase UM Insurance
Purchasing UM insurance is a straightforward process. Here are the steps to follow:
- Determine if your state requires UM insurance as part of your auto insurance policy.
- If not required, decide whether you want to add UM insurance as optional coverage.
- If opting for UM insurance, match the coverage limits to your bodily injury liability limits.
- Consider additional types of coverage, such as UMPD and UIMPD.
- Shop around for the best prices and coverage options.
Comparing quotes from multiple insurance providers can help you find the best coverage at the most competitive price. An Attorney near me can also provide guidance on the appropriate level of UM coverage for your specific needs.
How to Make a UM Insurance Claim
If you are involved in an accident with an uninsured or underinsured driver, it is essential to follow the proper steps to file a UM insurance claim.
- Report the accident to the police and obtain a copy of the police report.
- Gather information about the at-fault driver, such as their name, contact information, and insurance details (if available).
- Document the accident scene, including photos of the damage and any injuries sustained.
- Contact your insurance company to report the accident and initiate the UM claim process.
An experienced New Orleans Car Accident Attorney can assist you in filing a UM claim and navigating the complex legal process.
Stacking UM Coverage
In some states, policyholders are allowed to “stack” their UM coverage, which means they can make claims on multiple UM policies to increase the available coverage. Stacking can be done in two ways:
- Stacking coverage for multiple vehicles insured under one policy.
- Stacking coverage for multiple vehicles insured under separate policies in the policyholder’s name.
Not all states permit stacking, and some insurance companies include “anti-stacking provisions” in their policies to prevent this practice.
Conclusion
Uninsured motorist insurance is a vital component of your auto insurance policy, providing essential protection for you and your family in the event of an accident with an uninsured or underinsured driver. As a New Orleans Truck Accident Attorney, we at Cueria Law Firm LLC understand the importance of having the right insurance coverage in place to safeguard your family’s financial security. By investing in UM insurance, you can ensure that your family is protected from the financial burdens associated with accidents caused by uninsured or underinsured drivers.
