CRASH BANG BASH – you just had an auto accident! The first thing you ask your self is, “Is everybody okay?” The next question is, “What happened?,” meaning, who’s at fault? If you are at fault, your next concern is, “Am I covered?” Well, if you read last month’s article, you already know the answer to this question! But what if it was the other guy’s fault?
For this article, let’s pretend the other guy is at fault. Since carrying auto liability is a state law in Texas, you may be assuming the other guy is insured. Let me tell you something, boys and girls – all good laws are meant to be broken, and lots of folks are doing it. So many, in fact, that according to the Texas Dept. of Public Safety, 1 out of every 6 auto accidents in Texas involves an uninsured driver.
When I receive calls from people looking for auto insurance, I ask a series of questions and quickly learn two things. One, they do not have a current policy or, like most, not enough insurance coverage. However, when I tell them how inexpensive it is to carry adequate coverage that protects all of their needs, they drive right over!
Okay, let’s get back to the guy who hit you….
You ask him for his insurance information. He doesn’t have any – UH OH! So now what do you do? One of three things – and assaulting him is not an option!
1.Call a lawyer. The first thing a lawyer is going to do is see if the other guy has any assets that he can be sued for. If so, you will share around 40% with the lawyer.
2.You can allow the other guy to pay for it out of his own pocket. But pockets get shallow quick when compared to the cost for fixing broken bones and bumpers.
3.The best choice: what if I told you can buy liability coverage on the other guy’s behalf? It is called Uninsured Motorist or UnderInsured Motorist coverage (UM/UIM).
So what will UM/UIM do for you? A LOT!
UM/UIM will pay your expenses from an accident caused by an uninsured or underinsured motorist, but only up to your policy’s dollar limits. The good news is that it covers you, your family members, passengers in your car and others driving your car with your permission.
To be specific, UM/UIM will cover your medical bills, lost wages, pain and suffering, disfigurement, and permanent or partial disability without a deductible. Additionally, with only a $250 deductible, it will also pay for your auto repairs, a rental car, and damages to items carried in your car.
Why entrust you and your family’s well-being into the hands of strangers when for just pennies per day you can have peace of mind that you will be taken care of by adding UM/UIM to your auto insurance policy.
We are not an insurance agency for everybody! We are here for people who are concerned with having the right coverage and protection based on their needs and budget. If you are one of those people and have any questions or would like further explanation, please don’t hesitate to call me or stop by my office.