Being under insured can have devastating effects after a car accident. A good rule of thumb is to review your car insurance policy regularly to ensure you have adequate coverage in the event the unthinkable occurs.
When to Adjust Your Car Insurance Policy
There are certain circumstances under which you should always review your car insurance policy. These include:
- When You Get a Raise – When you get a raise, you should reevaluate the amount of coverage you have. Often, young people carry the minimum amount of insurance required by law. When you can afford a bit more insurance, you should consider increasing the limits of your policy.
- If You Are Purchasing a Home – As a new homeowner, you may qualify for a reduced rate on your car insurance if you bundle it with your homeowner’s insurance policy.
- When You Get a New Job – If your new job increases or decreases your commute, or if it eliminates your commute all together, you may qualify for a better insurance rate.
- When You Marry or Divorce – Increasing or decreasing the number of regular car drivers can impact your premiums.
- Any Time You Add or Remove Drivers from Your Policy – Adding or removing drivers can also impact your insurance rate, especially if it’s a younger driver being removed.
Supplemental Under Insured Motorist and Uninsured Motorist Coverage (SUM Coverage)
Supplemental Under Insured Motorist and Uninsured Motorist coverage, also referred to as SUM coverage, provides you with insurance coverage in the event you are injured by a motorist who doesn’t carry insurance, or doesn’t carry sufficient insurance to cover all of your injuries. SUM insurance can be rejected in writing by policy owners, according to Florida law.
Take a moment to check your policy to make sure you are protected to the maximum amount possible, especially since this type of coverage typically only costs a few dollars a year. It can – and often does – make all the difference if you are hit by a driver who failed to carry insurance or failed to carry adequate insurance.
It’s important to understand that if your insurance policy is $100,000/$300,000, this refers to the amount of money your insurance policy will pay someone else if they are injured in a car accident that was your fault. How much will your insurance company pay you if someone else is at fault and doesn’t have insurance? That figure is found in your SUM coverage, which is why it is so important to make sure you have adequate coverage.
If You Have Been Injured in a Car Crash
If you have been injured in a car crash, you need a personal injury attorney Daytona Beach who can protect your interests. You may be entitled to compensation for lost wages, medical bills, physical therapy, and future medical needs. Keep in mind, however, that the state of Florida limits the amount of time you have to file a claim.
The attorneys at Zimmet & Zimmet are well-versed in personal injury cases stemming from car accidents. We have the required experience and expertise to ensure maximum financial recovery so that you can focus on healing. Contact us today at (386)-255-6400 to learn more.
