Now’s the time! Review your uninsured motorist coverage - why “Full Coverage" might not be enough.
We all tend to be a little focused in the first few months of the year taking stock of where we are and where we are going. Well, to get to where you are going in the United States and especially in Mississippi, you can only get there by car.
And since most of us travel a lot every day by car, I would strongly recommend that you review the amount of insurance you have on your vehicles. I hear almost weekly from someone, “Mr. Brehm, I always make sure that I am fully insured.” I take that to mean that they have Liability, Uninsured Motorist Coverage, Medical Payments, Comprehensive and Collision. Great! But just because you have full coverage, it doesn’t necessarily mean that you have enough full coverage.
In Mississippi, in order to have full coverage you only have to have $25,000 in liability. In Louisiana, that amount dips to $15,000. So that means if you cause an accident and someone is only moderately injured, your insurance may not be enough to pay all of their damages. Think about it this way, if you are hit by a vehicle and incur emergency room costs, diagnostic tests and even a little bit more of follow up medical treatment, $25,000 may not even pay for your medical bills, much less your lost wages, extra expenses involved with your treatment nor anything for pain and suffering.
How can you protect yourself from someone who is at fault in hurting you in a car accident if the other side does not have insurance or enough insurance? Get enough Uninsured Motorist (UM) coverage!
I have represented numerous clients who have been injured with medical bills over $30,000 and did not have enough Uninsured or Underinsured coverage to provide for all the losses they sustained due to someone else who was “fully covered” but did not have enough coverage.
February is a great time to call your insurance agent and ask them what it will cost you to increase your UM coverage. UM coverage is traditionally less expensive than your liability coverage. With so many people being fully insured but not enough fully insured, you need to protect yourself and your loved ones. Ask your agent the difference in the cost for additional Uninsured motorist coverage.
There are a lot of advantages to have the most UM coverage you can afford and it could be the best insurance you ever buy. If you have any questions about it, please feel free to call my cell, 228-216-2200 to discuss the importance of increasing your UM coverage.