Imagine you’re driving home from work and another drive runs a red light hitting your car. You have some aches and pains in your arm, and an ambulance takes you to the emergency room to be checked out. The emergency room doctor orders an X-Ray on your arm, and you quickly learn that you have a fractured bone in your arm. As most people are aware, healthcare costs are very high and constantly rising. A simple ambulance ride, ER visit, and X-Ray can cost you thousands of dollars. In Georgia, a motorist is only required to carry $25,000 of coverage for an accident. So, what happens when your medical bills exceed the at fault driver’s liability limits? Fortunately, your own insurance may provide additional coverage. Georgia law requires that every motorist be offered uninsured or underinsured motorist coverage by their insurance provider. Underinsured motorist coverage applies when the at fault driver doesn’t have enough insurance coverage to cover your injuries. There are two primary types of underinsured motorist coverage. First, there are options for levels of traditional coverage. Traditional underinsured motorist coverage is offset by the liability limits of the at fault driver. For example, if you have $100,000 in traditional underinsured motorist coverage, and the at fault driver has $25,000 in liability coverage, your underinsured amount is offset by the at fault driver’s amount, leaving you with an additional $75,000 in coverage. The second primary type of underinsured motorist coverage is “add on” coverage. This amount is simply added on to the at fault driver’s coverage. In the same example as above, you would have $125,000.00 in potential coverage. It is important to know what coverage you pay for because liability limits can be quickly exhausted. You will leave money on the table by not knowing the details of your coverage. If you are in an accident, an experienced attorney at Gordon Personal Injury can help you navigate your case and insure you received fair compensation for your injuries.
Jan 12, 2022 | Insurance