11/14/2023
UM Insurance: Get it and don't accept reduced coverage!
UM stands for uninsured/underinsured motorist insurance. It stands in place of, or in addition to, the liability insurance of someone who injures you in a car wreck. Instead of hoping the stranger that injures you has enough insurance, you can purchase UM insurance to act like their insurance and protect/pay you for your injuries.
The law requires each driver to have $25,000 in minimum liability insurance, but too often, someone is riding around without legal coverage. If they hit you, and you don't have UM, you will likely not recover anything for your damages. Even if they actually have the state minimum $25,000, your damages may exceed this amount. Without UM, you will not be made whole and recover all you deserve.
If you actually purchase UM, you will be asked if you want reduced or add-on UM coverage. By default, the law provides for add-on UM. This means that if a driver hits you and has $25k in liability coverage and you have $25k in UM add-on, then you can recover up to $50k for your injuries.
However, if you opted for reduced UM coverage, your UM coverage will be reduced by the amount of liability insurance. If you are hit by someone with state minimum $25k in liability and you have $25k in reduced UM, you will only have $25k total available to you.
Too often, insurance companies push people to choose reduced coverage so that they can save a few dollars off their premium. Most people do not understand that they are giving up $25,000 for that slightly smaller premium.
Be sure to speak with your insurance agent, or even contact me, to further discuss the UM coverage you should have. This is not a conversation you want to have with an attorney, like me, after an accident and find out you don't have the protection you need.
