The next thing you need to do in order to protect yourself and your family is to call your insurance agent and find out the following:
1.) The amount of liability insurance you have
2.) The amount of Uninsured Motorist coverage you have
3.) The amount of Underinsured Motorist coverage you have
4.) The amount of Med-Pay or Personal Injury Protection coverage you have
After obtaining these amounts ask your agent to give you quotes for the following things:
- $1,000,000 worth of Uninsured Motorist Coverage and Underinsured Motorist Coverage
- If you have two cars, you can ask for the cost of $500,000 of Uninsured Motorist coverage and Underinsured Motorist coverage on each vehicle.
- If you have three cars, ask your agent the cost of $300,000 Uninsured Motorist coverage and $300,000 of Underinsured Motorist coverage on all three vehicles.
- If you have four cars, ask your agent the cost of $250,000 Uninsured Motorist coverage and $250,000 of Underinsured Motorist coverage on each vehicle.
- Then ask your agent if all the Uninsured Motorist coverage is stackable as long as one of your vehicles is involved in the wreck.
- For each of the above quotes, ask your agent the cost of adding either $5,000 or $10,000 in Med-Pay / Personal Injury Protection.
If $1,000,000 coverage is too expensive, then ask for quotes for the following amounts:
- $750,000 of Uninsured and Underinsured Motorist coverage.
- $500,000 of Uninsured and Underinsured Motorist coverage.
- $250,000 of Uninsured and Underinsured Motorist coverage.
Then, compare these figures to what you are currently buying now. Divide the annual premium by 12 and see how much it will cost you per month for the better coverage. Then buy as much coverage as you can afford. When considering the amount of insurance to purchase, consider the number of people in your family because the more family members riding in a single vehicle, the less protection you have for each person in the event of multiple injuries.
If you have any questions regarding how much insurance you have and how much insurance you need to buy, please call my office at 843-248-7486 and set up a phone conference for me to review your policy and help you decide on what coverage you need.
Many of you may be thinking "why would he take the time to talk to someone about coverage when he or she has not been involved in an automobile accident recently and does not need a lawyer?"
The answer is simple: For over 20 years, I have seen case after case where my clients were not protected and they have been unable to collect enough money to cover their medical bills, lost wages, loss of earning capacity, and other legal damages allowed because of insufficient Uninsured or Underinsured Motorist coverage.