This is why you need UM and UIM Insurance!

by Martin Pohl | Sep 18, 2017 | 

Earlier this month, a man was driving under the influence and ran into 2 cars.  He ran 8 more vehicles off the road.  The incident took place in Shepherdsville, KY.  Ask any one of these drivers, you need UM and UIM insurance.

Once the police arrived on the scene, it was determined that he was had slurred speech and was unable to produce an insurance card.

Let’s assume the driver is uninsured.  If you owned one of the cars involved in the collisions you’d be on the hook for the damage, medical bills and other expenses.

Obviously, you’d consider filing a lawsuit to recover your damages.  However, what happens if the drunk driver doesn’t have significant assets to pay?  This isn’t all that uncommon.

Your Uninsured Motorist Coverage (UM), would be the key to quickly recovering cash to pay for your expenses.  Even though it’s your own policy, that’s why you have it.  Most people don’t have thousands of dollars just lying around waiting to be used for medical bills and repairs.

Now assume the driver had minimal coverage.  The state of Kentucky requires drivers to carry $25,000 at a minimum.  If your damages exceed the policy limits, your Under Insured Motorist Coverage (UIM) could be used to make up the damage.

Remember, as an insured driver you already have $10,000 of Personal Injury Protection (PIP) available.  However, medical expenses, lost wages and other expenses can quickly exceed $10,000.

You need UM and UIM Insurance

Even if the driver has insurance, the large number of vehicles involved in this 10-car rampage may exhaust the insurance coverage.  That would mean you’d have to fight to get your fair share of the available funds as they get divided among all those involved.

There are a lot of ways to reduce your insurance costs.  You can select various amounts of coverage.  You can switch between insurance companies.  But remember, when it comes to protecting yourself and your family, you need UM and UIM insurance.  Don’t assume these types of accidents won’t happen to you.  Just ask the owners of 10 vehicles in Shepherdsville, KY.

Here’s a link to the brief story on WDRB:  http://www.wdrb.com/story/36292775/louisville-man-accused-of-hitting-2-cars-running-8-more-off-the-road-in-bullitt-county

 

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