One Mistake That Could Cost You Thousands During an Auto Accident

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In the aftermath of an accident, plenty of people make mistakes — it’s a challenging situation to be in. These mistakes can cost you compensation when filing your claim. However, did you know there is one mistake you can make before your accident that can cost you thousands?

Not having enough car insurance coverage can be the worst mistake you make when it comes to vehicular accidents.

Accidents are Costly

After someone is significantly injured in a car accident, their condition may require hospitalization, surgery, or transfer to a rehabilitative care facility. All of this downtime can also require them to be absent from work for a significant period of time.

Depending on the injury, medical care from multiple doctors may be required, followed by an extended recovery period. There is also a possibility that the injury may be permanent and affect the rest of their earning lives. Medical costs can skyrocket and lost wages can be substantial.

Insurance is Essential

It is important to take a look at your auto insurance policy. Uninsured and underinsured motorist coverage is one of the most crucial types of protection you may have. This sort of coverage will compensate you for injuries and damages (up to your declared limits of responsibility) that you suffer as a result of another’s fault, where the other party either has no insurance (UM) or does not have adequate insurance (UIM).

It is comparable to purchasing auto insurance for every other driver on the road. You might be shocked to learn how affordable UM/UIM insurance is, so you should look into it right now and make the necessary changes.

How Much UM/UIM Do I Need?

For UM/UIM, it is recommended that you have at least $300,000 in conversion coverage. Additionally, you should obtain a $1 million excess liability or umbrella policy and confirm that it includes additional UM/UIM coverage with the same limits.

After a car accident, injured parties can incur astronomical medical bills and horrific injuries. If the person responsible doesn’t have enough coverage, your own UM/UIM coverage can mean the difference between reasonable compensation and being out thousands of dollars

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