WHAT HAPPENS IF YOU'RE IN AN ACCIDENT AND YOU'RE UNDERISURED...

BEING UNDERINSURED CAN HAVE SERIOUS CONSEQUENCES if you're involved in an accident. Underinsurance occurs when the amount of insurance coverage you have is not enough to cover the damages or injuries sustained in an accident.

If you're underinsured and involved in an accident, the first thing that will happen is that your insurance company will assess the damages and injuries. If the cost of repairs or medical expenses exceeds the amount of coverage you have, you will be responsible for paying the difference out of pocket. This can be a significant financial burden, especially if the accident was severe and caused significant damage or injuries.

Additionally, if the other party involved in the accident suffers damages or injuries that exceed your insurance coverage, they may choose to sue you for the remaining amount. This could result in a lawsuit and the potential loss of assets such as your home or car.

Furthermore, if you're found to be at fault for the accident, you may also be held liable for any non-economic damages such as pain and suffering.

Too often we see insureds carrying state minimums as low as 15,000/30,000 for bodily injury and 10,000 for property damage.  

Consider the fact a mere dent removal and repainting of one side of some vehicles can easily cost $5,000.  And let's not get started on the realistic costs to cover bodily injury claims.

It's important to note that in some states, if you're found to be underinsured, your insurance company may choose to not pay for your damages or injuries, leaving you to bear the full cost.

To avoid being underinsured, it's important to regularly review your insurance coverage and make sure it meets your needs. It's also important to understand the minimum coverage requirements in your state, and to consider purchasing additional coverage.  You'll be surprised to find that increasing your coverage only adds a few more dollars to your premium.

It's important to make sure you have enough coverage to protect yourself and your loved ones. 

Contact us now and one of our experienced agents will review your coverage and make sure you have the right amount of insurance in place to protect yourself in case of an accident.