Being involved in a car accident can set your entire life back weeks, months, or even years. Depending on the severity of your injuries, you may find it almost impossible to recover the costs of your medical bills or lost wages. With the right type of car insurance coverage, however, you may be able to have an easier time recovering from a financially difficult situation.
The right type of insurance coverage can turn the tables during the aftermath of a car accident in a major way. Unfortunately, many Kentucky insurance agents don’t tell you what you need to know upfront. They may hide the coverage details within the small print or fail to tell you what the different types of coverage imply.
We’re here to help. Here are two crucial areas of vehicle insurance coverage that can make a significant impact on your family’s ability to recover from a car crash:
No-Fault Personal Injury Protection (PIP) Coverage
In the state of Kentucky, all drivers are required by law to have auto insurance that includes no-fault personal injury protection. This is often referred to as PIP coverage. This allows a driver to always be protected by their insurance no matter who’s at fault for the accident. In other states, this protection isn’t required. This means that accident victims in other states may lose out on coverage completely if they’re found to be at fault for the accident—even partially.
With basic, no-fault PIP coverage, most Kentucky drivers are covered for up to $10,000 in medical costs regardless of who caused the accident. It’s important to note, however, that this amount may not be enough to cover the medical costs of an especially serious injury or one that requires any surgeries. This amount also doesn’t cover any loss of wage costs, etc. We highly recommend obtaining additional PIP coverage above the $10,000 minimum. Check with your insurance agent for a quote and bump up the coverage to $20,000 or even $30,000 per person.
Uninsured/Underinsured Motorist (UM/UIM) Coverage
Another form of coverage that can protect Kentucky drivers in an accident is uninsured/underinsured motorist coverage. This is often referred to in insurance policies as UM or UM/UIM coverage. This coverage protects individuals if they happen to get into a car accident with a driver who doesn’t have insurance. In the case of UIM coverage, this protects an individual if the other driver doesn’t have full coverage or enough coverage to pay for the required costs.
All insurance companies are required to offer UM/UIM coverage, but many agents do not mention it unless you specifically ask. In the state of Kentucky, this coverage is included in most policies, but not all the time. If you’re unsure of whether your current policy includes this coverage, you should ask your insurance agent. Remember you need both UM (uninsured) and UIM (underinsured) coverage on your policy.
As you can see, having both UM/UIM coverage and no-fault PIP coverage can help a victim of a Kentucky car accident and their family tremendously. Having both types of coverage can give you peace of mind and provide extra protection should an accident occur. We highly recommend obtaining a minimum of $100,000 per person and $300,000 per accident of UM and UIM coverage, but the best recommendation we can give is to look at $250,000 per person and $500,000 per accident of UM and UIM coverage. Remember you need both UM and UIM.
We also highly recommend an excess insurance policy (often referred to as an “umbrella” policy). These policies are very cost effective and provide much better coverage should you need it. Going with an umbrella policy with a minimum of $1,000,000 can protect you if you accidentally cause injuries to another person as well as protect you should you become injured.
If this protection isn’t enough or you question your legal rights during the aftermath of an accident, you should also remember that a personal injury attorney can help you get the compensation you need to continue providing for your loved ones. Todd W. Burris, Lexington, KY car accident lawyer, is on your side. Contact our office to learn more.