Wheels Of Grace Magazine

Volume 8, Issue 3

Issue link: http://cp.revolio.com/i/695454

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Page 30 of 52

UNINSURED MOTORIST COVERAGE SO YOU THINK YOU HAVE FULL COVERAGE - THINK AGAIN! PART 1 California and some other states requires that all drivers of motor vehicles, including motorcycles, have liability insurance on their vehicles. The state required minimum in California is $15,000 liability insurance per person, $30,000 liability insurance per accident, and $5000 property damage insurance per accident. This means if you cause an accident with resul ng injuries/death to one person, that person can collect a maximum of $15,000 from your insurance company. If you cause an accident with resul ng injuries/death to more than one person, the maximum they can collect is $30,000 from your insurance company. If you damage someone's vehicle and/or property, your insurance company will only have to pay a maximum of $5000. If the vic m's losses are higher than what your insurance company has to pay, you will be personally responsible for the rest. The vic m can file a lawsuit against you and sa sfy any unpaid judgment by execu ng on your assets such as real estate, bank accounts, vehicles, wages and more. Further, in some states, if you do not carry liability insurance on your vehicle or motorcycle at the me of your accident, even if you are not at fault, you cannot be compensated for pain and suffering if you make a claim for your personal injuries. This law only applies to drivers, not passengers. When a client contacts my office a er a motorcycle accident, I always ask them to verify their own insurance because 1) if my client was the rider, they must have liability insurance and, 2) I want to verify all insurance coverage that may be available to compensate my client. Nine out of ten mes, when I ask a client to verify their insurance, I usually get this response: "I have full coverage". And nine out of ten mes, the client has the basic minimum coverage as described above. Many of you will be surprised to discover that you have minimum limits of insurance, with absolutely no protec on from op onal coverage that may prove necessary in order for you to obtain full compensa on for your injuries and damages. Unfortunately, many motorcycle riders are a racted to the cheaper rates of insurance, which do not always offer the best insurance coverage. Here are some helpful ps you need to consider when purchasing insurance coverage for your motorcycle. UNINSURED MOTORIST COVERAGE Uninsured motorist coverage is one of the most important protec ons to include in your motorcycle insurance policy. Motorcycle riders are par cularly vulnerable to sustaining serious injuries and even death if they are involved in a motorcycle accident due to the lack of protec on offered on a motorcycle. If you ride a motorcycle, you can't just rely on the at-fault party's liability insurance to protect you, because that party's coverage, if any, is likely to be inadequate to compensate you fairly. Na onwide, one out of eight drivers is opera ng a vehicle with no insurance coverage. In some states, the rate is even higher. In Florida for example, one out of three drivers don't carry bodily injury liability insurance, as it is not mandated by the state. A high percentage of the individuals who do have liability insurance are underinsured with the very minimum coverage required which is o en inadequate limits to cover a serious injury accident they may cause. The purpose of uninsured motorist coverage is to minimize losses to people who are involved in accidents with uninsured or financially irresponsible motorists. Uninsured motorist coverage is an elec ve insurance in most states, which protects you for injuries and certain damages received as a result of being involved in an accident caused by an uninsured driver. SO YOU THINK YOU HAVE FULL COVERAGE - THINK AGAIN! PART 1 SO YOU THINK YOU HAVE FULL COVERAGE - THINK AGAIN! PART 1 By Susan Handel, Esq.

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