For many people, price is the primary (perhaps even the only) consideration when purchasing auto insurance. For them, paying extra for UM/UIM coverage just seems like throwing money away. But if you are involved in a serious accident, the presence of UM/UIM coverage on your policy may be the difference between receiving fair compensation for your injuries or being forced to take whatever you can get from an uninsured or underinsured defendant.
According to the Insurance Research Council (IRC), the number of completely uninsured motorists in the U.S. has been steadily decreasing for the past several years. In Pennsylvania, it has fallen below eight percent. This may be due in part to more aggressive enforcement of mandatory financial responsibility laws. What these numbers fail to demonstrate, however, is the huge number of people who carry only the minimum coverage required by law. In Pennsylvania, this is merely $15,000 per injured person and $30,000 per accident.
These amounts are wholly inadequate to provide compensation for even moderately serious injuries. If your injuries are severe, being struck by a motorist with minimum coverage is only marginally better than being struck by one with no coverage at all. Purchasing UM/UIM coverage allows you to take control of your financial security in case of an accident rather than gambling that the person who hits you will be financially solvent and well insured. This is a dangerous bet to make.
Of course, even if you have UIM coverage, getting compensation is not always easy. UIM carriers often fight just as hard as the underlying defendant to minimize your injuries and their obligation to pay compensation. That is why it is so important to have your UIM claim handled by an experienced Collegeville auto accident attorney - call Mayerson Injury Law, P.C. today at (610) 492-7155!