Selecting the right car insurance plan for you and your family isn’t always cut and dry. Most of us simply opt for the basic coverage (in New York State it’s $25,000), not thinking about what could happen down the road. We will get collision coverage, comprehensive coverage, liability for bodily injury and property damage.
The more savvy may increase their liability from the minimum coverage to $100,000 or more– thinking they are covered in case a serious accident occurs. However, upping your liability doesn’t mean you or your family are protected. If your insurance agent didn’t recommend that you purchase additional Supplementary Uninsured Motorist Insurance (SUM) you are not fully covered.
Some insurance agents DON’T recommend additional SUM insurance. The minimum required is only a $25,000 limit. However, insurers may offer higher SUM limits in an amount equal to your bodily injury liability coverage limits. We recommend asking. SRDD Law makes sure to inform all our clients about the importance of making sure you have this additional protection especially since the cost is relatively small. What are the limits of your liability coverage and how does SUM Insurance offer additional protection? If you are seriously injured in an accident and the at-fault driver isn’t fully covered (or, covered at all), having SUM insurance can provide the additional protection you may need. Your current policy may only cover you for a portion of what your injuries are worth.
When thinking about your coverage, we recommend that you consider what COULD happen. Accidents are typically out of our control no matter how good/cautious/careful of a driver we are. “We have had clients that came to us after a serious accident. In those cases, the person that caused the accident only had basic coverage ($25,000) but we were able to get them more money as compensation for their pain and suffering and lost wages because they had SUM Insurance. In a serious accident, $25,000 may not be enough to protect you and your family.” says Joan Garrett, a Personal Injury Attorney at SRDD Law.
What you should know….
You cannot purchase more SUM coverage than what you have in liability. For instance, if you have a $50,000 policy, you can only purchase $50,000 or less in SUM coverage. Check with your insurance provider for more information and for pricing. As stated earlier, the additional cost is minimal compared to the level of protection you and your family will have. If you have questions or have been in an accident, please contact SRDD Law today.