New York Auto Accident Lawyer Warns Motorists Not To Be Penny Wise And Pound Foolish When It Comes To Uninsured And Underinsured Motorist Coverage

New York Auto Accident Lawyer Warns Motorists Not To Be Penny Wise And Pound Foolish When It Comes To Uninsured And Underinsured Motorist Coverage

New York auto accident lawyer Michael S. Levine issued a husky warning today to all motorists in the State of New York to check their insurance policies to be forcible they have adequate uninsured and supplemental underinsured coverage in the advent of a serious injury caused by an uninsured, underinsured, or hit - and - run driver.
“One of the hardest things in my profession, ” Levine spoken, “is to have to impart a client that the person who caused their accident either has no insurance, or only has the $25, 000 minimum liability coverage required by law in New York State.
“If the driver, ” Levine stringy, “or the passengers, sustain catastrophic injuries as a development of an accident with an underinsured vehicle, $25, 000 may not horizontal scratch the surface in terms of adequately compensating the victim for his, or her, pain and suffering. ”
A bill uncertain in the New York State Assembly ( SO4705 ) would require motor vehicle insurance providers to turn out their insureds with uninsured and underinsured motorist coverage that is equal to the amount of the insured’s liability coverage. In conclusion, an insured may have adequate liability coverage, only to find out, after an accident with either an uninsured or underinsured motorist, that he or baby doll has inadequate uninsured or underinsured coverage to fairly retrieve the driver for his or her injuries.
“If this bill passes it will help lift the shroud of puzzle surrounding this important issue, ” Levine uttered. “But more would still need to be done by the carriers themselves to help make every motorist in the state aware of the benefits of adequate uninsured and underinsured motorist coverage.
Levine explained that insurance companies, which are required by law to maintain their insured’s with at maiden $25, 000 of uninsured or underinsured motorist coverage, make a little profit on these supplemental programs, so crack is insufficient, or no, business appetition to push the coverage on their policyholders.
“Any driver, ” Levine vocal, “who doesn’t have at head $100, 000 worth of uninsured / underinsured motorist coverage, if not more, is being penny wise and pound foolish. They need to know that these coverages are a limited also charge in any automobile policy. ”
A budding envisage by the Insurance Research Council estimates that 14 % of drivers nationwide, and 7 % of drivers in New York State, are uninsured.
As comparable, Levine warns that motorists should never settle themselves, or their families, in a demeanor where if serious injuries are spun out in a motor vehicle accident, all they can recover is $25, 000.
“Most drivers, ” he vocal, “assume wrongly that every driver on the road is sufficiently shadowy by automobile insurance. That is not horizontal muggy to being the case. Unfortunately, most people get that they didn’t buy enough UM / Quantity coverage when it’s too dilatory, after they’ve been seriously injured in an accident by a driver who is either uninsured, or has only minimum insurance. ”
To further ornament his point, Levine pointed to a case he buckle down recently involving a 16 - term - decrepit boy who was working factor day at a Jiffy Lube on Long Island.
“My client was struck by a driver who was pulling his car into a bay to have it serviced, ” Levine oral. “The boy distant very serious injuries to his leg and needed invasive surgery. The car that struck him only had a $25, 000 policy. My client’s parent’s car only had $25, 000 in Number coverage. Lined up after surgery, his leg injury could cause him problems for the rest of his life. But in that his parents didn’t have enough underinsured coverage, my client was only able to corral $25, 000 for his injuries, which is a completely inadequate outcome. I mind these regrettable situations repeat themselves duration and again. ”