Did you know that in North Carolina, a person is only required to have $30,000 in automobile liability insurance coverage? With the rising cost of health care and mandatory diagnostic medical procedures, a person seriously injured in an automobile accident may face medical expenses in excess of $30,000 in a matter of a day or two. That is why it is imperative that your insurance policy contain underinsurance coverage, sometimes called UIM.
UIM coverage means that if the person who caused the accident does not have enough insurance to pay you for your medical bills, pain and suffering, lost wages, disability, etc., then your policy will provide you with additional coverage – up to a million dollars.
Buy UIM is not required in North Carolina and there is an additional premium to have it included in your policy. However, the increased premium is well worth it. Furthermore, if you make make a UIM claim, it will not increase your premium or affect your insurance in any way.
In making a UIM claim, one must be very careful. Oftentimes the injured party will mistakenly give a release to the insurance company that insured the person that caused the wreck. When this occurs, your right to make a UIM claim may be lost.
If you have questions about this, email me at Fred DeVore visit us at DeVore, Acton & Stafford, Attorneys at Law.
This blog does not create an attorney-client relationship. You should not rely upon this blog for legal advice, but instead should consult an attorney experienced in your area of concern.