What is Uninsured/Underinsured Motorist Insurance?
All motorists in Illinois are required to have a minimum amount of insurance to pay for damages caused by a car accident. This includes bodily injury and property damage coverage. However, not everyone carries enough insurance because of the cost involved. Some may be underinsured or have no insurance at all.
This can negatively impact you if you are ever involved in an accident. If the at-fault driver does not have enough insurance to compensate you for your damages, you may be forced to pay for these expenses out of pocket.
That is why Illinois highly recommends uninsured/underinsured motorist coverage. It can help pay your bills in your time of need. If you are seriously injured, wondering how you will pay for treatment should be the last thing on your mind. Read on to learn more about this type of insurance and why you need it.
What Does Uninsured/Underinsured Motorist Insurance Do?
Uninsured/underinsured motorist insurance is additional insurance that protects you in the event that you are involved in a crash caused by a driver with inadequate insurance or none at all. The minimum coverage in Illinois is $20,000 for injury of one person, or $40,000 for accidents involving injury to more than one person. This is often not enough.
If you are seriously injured in a crash, $20,000 will not go far. A long-term injury requiring surgery can cost hundreds of thousands of dollars. That is when your uninsured/underinsured motorist insurance coverage kicks in.
This insurance pays for damages caused to you and your passengers. It covers a variety of damages, such as medical bills, lost wages, rehabilitation and even funeral expenses should the accident result in fatality. It also protects you if you are not in your vehicle. If you are hit by a car while walking or riding your bike, you will be covered by uninsured/underinsured motorist insurance. If you are disabled in a car crash, and you have disability coverage, your uninsured/underinsured motorist insurance would cover your expenses until your disability insurance kicks in.
Do I Need Uninsured/Underinsured Motorist Insurance?
Even though auto insurance is required under Illinois law, not everyone has it. According to statistics, 1 in 8 drivers in the United States is uninsured. In addition, hit and run accidents are quite common. Uninsured/underinsured motorist insurance covers hit and run crashes, so even if the driver is never found, your injuries will be covered in such cases.
All insurance companies in Illinois are required to offer uninsured/underinsured motorist insurance to their customers. It is recommended that you purchase coverage of $25,000 per person and $50,000 per accident. If you opt for lower limits or want to reject it altogether, you must do it in writing. If you purchase full coverage, then uninsured/underinsured motorist insurance is automatically included.
If you are unsure if you have uninsured/underinsured motorist insurance, check your insurance card or policy or contact your agent. Coverage is relatively inexpensive and can be a financial lifesaver should you ever be involved in a hit and run crash or an accident with a driver who lacks sufficient insurance coverage.
Contact an Illinois Uninsured & Underinsured Accident Lawyer Today
While auto insurance is required in Illinois, not every driver has it. If you are involved in an accident with an uninsured motorist, you may not recover any compensation unless you have the right coverage.
If the at-fault driver does not have insurance, the dedicated Chicago uninsured & underinsured accident attorneys at the office of Harvey L. Walner & Associates, LTD can help you get the compensation you need to pay medical bills and other expenses. To learn more about your options, call our office today at 312-800-0000 or fill out the online request form.