By Fred Lewis and George Casper
Picture this. You get into a car accident and the other motorist is found to be negligent. You file a lawsuit in order to have the other motorist’s insurance pay for any vehicle damages, lost wages, medical bills and pain and suffering. You find out that the other motorist has an insurance policy that only covers up to $25,000 (the legal minimum) of damages that result from an accident. Your damages, wage losses, and medical bills amount to over $400,000 dollars. What do you do in order to get the rest of your claim paid for?
Unfortunately, the scenario described above happens all too often. Underinsured motorist’s can leave drivers on the wrong end of a car accident with feelings of anger and frustration. In order to prevent these feelings, make sure that you check your own auto insurance policy and see what the limits are for car accidents with underinsured drivers. Buy as much underinsured coverage as you can reasonably afford. It is one of the best insurance values available.