Suppose your 20-something son or daughter just bought their first car and they are getting quotes on insurance. Junior probably doesn’t make a lot of money, so every cent counts and he or she likely doesn’t understand the importance of having sufficient Personal Injury Protection (PIP) or Supplemental Uninsured/Underinsured Motorist Coverage (SUM).
Personal Injury attorneys are all too familiar with seeing young people who need medical care (often longer-term than they expect), and coverage for unpaid wages when they are injured in a car accident. In New York State we have no-fault insurance, which simply means no matter who is at fault for the accident, insurance on our vehicles is there to help the injured parties get economic relief.
Those on a budget may be tempted to settle for the minimum PIP, which is $50,000, and no SUM when Uninsured Motorist Coverage covers only $25,000 per person and $50,000 per accident. All car owners should know they can buy additional PIP and optional SUM protection in $50,000 increments, usually for a minimal charge per increment. In accidents resulting in severe injuries, it is easy to go over the $50,000 in PIP and time off work. If the motorist involved in your accident is uninsured or underinsured and you are also underinsured, the needs of those who’ve been injured may not be fully covered.
In these cases, it’s the job of a good Personal Injury attorney to get the best settlement available for the injured party, and motorists can lose personal assets because they didn’t have enough insurance. Always encourage the car owners you know to buy the most PIP and SUM insurance they can afford. It’s worth the extra to have peace of mind — and for those hurt in an accident, it can save a lot of heartbreak. If you have been injured in a car accident, contact us at www.jeffreyfreedman.com or call 1-800-343-8537.