Do you have enough UM/UIM insurance coverage should the unthinkable happen?
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It’s a tragedy beyond imagination: You or a loved one are involved in a car crash, and the injuries are monumental. From lifelong comas to years of physical therapy, the challenges quickly mount.
“At least,” you say to yourself, “insurance will cover it.”
Not so fast.
In fact, Mike Mumola, a KMHL partner who specializes in personal injury, says he’s seen far too many clients end up in dire straits because they – not the driver who caused the accident – don’t have the right amount of insurance.
“About one in seven drivers in America simply don’t have insurance,” Mumola said. “Furthermore, many drivers carry the bare minimum. And if they hit you, and you don’t have enough UM and/or UIM coverage, you’re going to have to pay for your loved ones care out of pocket.”
Quick definitions: “UM” stands for “uninsured motorist” and UIM stands for “underinsured motorist.” These are clauses inserted into your car insurance, and these are the types of clauses you need.
“So many clients tell me they’re ‘fully covered’ when in fact they aren’t carrying this type of insurance, or are carrying very little,” Mumola said. “We’re talking a few extra dollars a month to get $500,000 worth of UM and UIM insurance. For the peace of mind alone, it’s a worthy investment.”
So how do you know if you’re truly “fully covered?” Simple as asking, Mumola said.
“Just ask, or take a look at your policy,” said Mumola, “Uninsured and underinsured motorist coverage is extremely affordable, and worth every penny. It’s not easy to put your life back together after someone almost takes it from you, but this helps relieve the financial burden.”