You Could Be Driving Around Virginia Unprotected & Headed for Financial Ruin
Could you have purchased $900,000 worth of insurance coverage and paid nearly the same premium?
Before your Virginia car accident, you probably weren’t losing sleep over the amount of auto insurance coverage you had purchased. You thought you did all of the right things – you contacted your insurance agent, relied on him or her to recommend the appropriate coverage and then signed the dotted line. You were never late on your payments, but to your surprise, you were missing a very important type of coverage (or you didn’t have enough of this coverage). Now, you are left with a tower of medical bills. Since the other driver didn’t have insurance, it looks as though you will be covering these expenses yourself. Could you have better protected yourself?
The answer is more than likely, yes.
Too many consumers don’t recognize the significance of underinsured and uninsured motorist coverage, until it’s too late. Tragically, many people are left to foot the bill when the other driver, the person who was so negligent that an accident ensued, has chosen to operate his or her vehicle without insurance. Uninsured motorist coverage is designed for this very situation. It will protect you when you discover that the other driver is without insurance.
It’s a sad story and we have seen it too many times before.
We had a woman contact our office who had been in a serious Virginia car accident. The at-fault driver only had $100,000 in liability coverage, not nearly enough to cover our client’s damages. Unfortunately, her insurance company had not provided great advice regarding her coverage. She should have been advised to buy at least $500,000 in uninsured motorist coverage. We went a step further and recommended that she purchase $1 million in uninsured motorist coverage to protect herself in future accidents.If she had purchased $1 million in coverage, she would have had an additional $900,000 in damages, after the $100,000 from the at-fault driver had been applied. What was most disconcerting about this case was that the additional coverage wouldn’t have cost her much money. Her premium was $537.10 with the $100,000 uninsured coverage. Had she opted for the $1 million plan, her premium would have only gone up to $545.67.
