Car accidents are traumatic. The resulting stress and financial hardship can be significantly worse if you are hurt by the negligence of another driver who does not have auto insurance. For that reason, underinsured or uninsured motorist coverage is always worth having, and indeed, is required in Connecticut. At Wofsey Rosen, we see the fallout of terrible car accidents regularly, which reinforces the importance of purchasing adequate underinsured/uninsured motorist coverage.
What Is Underinsured Motorist Coverage?
Underinsured motorist coverage (UIM) is a policy add-on that you can purchase at different levels of coverage to fill coverage gaps if the responsible party and his or her insurance policy cannot cover your damages. You may need to utilize this coverage in several situations, including:
- Hit and run accidents
- Accidents in which the responsible party does not have auto insurance
- Accidents in which the costs of your resulting injuries exceed the responsible party’s policy limits
When the responsible party does not have adequate coverage for your injuries, your UIM coverage can step in and pay for the damages that the other party’s policy does not.
Connecticut Is an At-Fault Liability State
To fully understand the importance of UIM insurance, you must understand how the insurance process works regarding accidents and liability. Connecticut operates under an at-fault insurance policy framework, as outlined in the Connecticut Property and Casualty Insurance Guidelines. This means that the responsible party is considered liable for paying any resulting damages to injured parties.
Minimum Insurance Coverage May Be Inadequate to Cover Your Losses
According to Connecticut General Statutes ((CGS) 14-112), Connecticut requires minimum auto insurance coverage for bodily injury of $25,000 per person and $50,000 per incident. This type of coverage pays for the damages to other drivers or passengers involved caused by the at-fault driver. Many people choose to only carry minimum coverage, which can leave them vulnerable to a lawsuit for the difference between what their policy covers and the cost they owe.
Underinsured Motorist Coverage Is Protection You Can Control
Although Connecticut law requires drivers to carry auto insurance, a recent study by the Insurance Research Institute revealed that nearly 14% of drivers are on the road without it, leaving you and your passengers potentially unprotected in the event of an accident. You can’t control whether other people follow the law, but you can take steps to protect yourself and your passengers in the event of an unforeseen incident.
According to the Connecticut Insurance Department, many drivers select UIM coverage in an amount equal to that of their bodily injury coverage. However, you may increase your UIM coverage amount to twice that of your bodily injury limits. This means that drivers who select Connecticut’s minimum required bodily injury coverage of $25,000/$50,000 may increase their UIM coverage to $50,000/$100,000. Of course, buying the highest limits of UIM coverage you can afford greatly increases your chances of being fully compensated for your auto accident personal injuries, to the extent money can do so. Furthermore, purchasing something called UIM conversion coverage and/or an umbrella policy with additional UIM coverage also adds layers of protection.
Underinsured Motorist Coverage Provides Peace of Mind
Accident injuries are bad enough without the concern of being unable to afford the treatment and care you need to recover fully. Purchasing increased UIM coverage is often an affordable way to add to your existing policy, providing the peace of mind that you and your passengers are protected if someone causes an accident and damages for which their policy limits, or lack thereof, cannot pay.
Whether you are the victim of a hit and run accident, or simply sustained significant injuries that exhaust the responsible driver’s policy limits, UIM coverage can provide additional means of compensation.
Call Wofsey Rosen to Help You Navigate Your Underinsured Car Accident Claim
Wofsey Rosen has been serving businesses and individuals in Connecticut for more than a century. Our team understands how difficult it can be to navigate insurance claims after an injury, and our goal is to represent you vigorously so that you can focus on your recovery. Our team offers complimentary case consultations, allowing you to meet with an attorney to discuss your specific situation. Call us today for the help you deserve.