“You’re Covered…”
Or Are You?
If not, call your insurance agent and
say, “Do I have Underinsured Motorist
Coverage?” If he or she says, “No,”
tell them you need it. If they say, “Oh,
your health insurance will cover those
expenses. You don’t need UIM,”
ignore their advice and demand UIM.
By Scott O’Sullivan
The O’Sullivan Law Firm
This is a story that I have to share,
even though it’s a sad one.
We recently were contacted by
a man who was a victim in a bad
motorcycle accident. This man
had been told by his insurance
company that he was covered for
any accident. And, to an extent, that
was true.
Here’s why: health insurance
doesn’t cover everything that UIM
covers.
Underinsured
Motorist
Insurance covers:
Lost wages
However, he only had $25,000 in
coverage.
Future medical expenses
Now, $25,000 might seem like a lot of money on
an average day, right? If any of us suddenly got a
$25,000 check in the mail we’d feel rich! But it didn’t
come close to covering this man’s medical bills.
Any damage arising from the accident (with the
exception of property damage)
To make matters worse, the person who hit this
victim only had $25,000 in coverage also. So, the
maximum he could get was $50,000. Again, that’s
a lot of money but it is nothing when you’re facing
medical bills, lost work, physical therapy, a totaled
car… truly, this man’s financial needs will exceed
$200,000 and there is absolutely nothing we can do
to get him any more than $50,000.
Here’s another recent case with a happy ending. It
illustrates the value of UIM perfectly.
When we told the man this bad news, he kept
saying, “But I’m covered! I’m covered!” He thought
that simply having insurance meant that he was
protected from financial ruin. He has learned the
hard way what I want you to learn the easy way: Get
as much insurance as you can afford!
Also, protect yourself with another layer of
insurance by buying UIM or Underinsured Motorist
Coverage. UIM covers you against other drivers who
aren’t covered or who have low coverage.
Do me a favor. Get your insurance card out right
now and look at it. Does it have a “U” or “UIM” on it?
www.thunderroadscolorado.com
All economic and noneconomic loss, which
includes pain and suffering
This man was riding his motorcycle south on Santa
Fe Boulevard when a car hit him by making a lefthand turn across his lane. The driver of the other
car only had $25,000 of coverage but our client had
$250,000 in UIM. He should not face financial ruin
due to someone else’s negligence.
Do you really want to trust other drivers to carry
enough insurance to cover your medical bills if they
hit you?
Health insurance and UIM insurance are completely
different. To learn more about this topic, download
my free book: https://osullivan-law-firm.com/areasof-practice/motorcycle-accident/motorcycle-law-alittle-book-about-the-big-things-you-should-know/
If you have any questions about this article, don’t
hesitate to call me: 303-388-5304 or https://osullivanlaw-firm.com/
October 2016
Thunder Roads Magazine® Colorado 7