What do you do when your accident damage exceeds the other motorist’s insurance policy limits or when the other driver was an uninsured motorist (UM) or underinsured motorist (UIM)? Despite the fact that New York State requires all drivers to carry auto insurance, a percentage of drivers violate the law by failing to acquire insurance. Sometimes a motorist carries insurance but the policy limits are not adequate to cover damages, in which case the motorist is described as underinsured.
To understand how UM/UIM insurance works, you must first understand that New York requires all motorists to carry auto insurance.
The minimum amount of auto insurance a motorist must carry is as follows:
The UM limits and coverage also apply in the case of a hit-and-run accident. However, UIM insurance would only apply after the auto insurance limits of the offending driver have been exhausted.
According to the New York State Department of Financial Services, New York drivers are required to carry the following insurance:
New York State law requires that motorists carry a minimum amount of liability insurance of $25,000 for bodily injury to one person, $50,000 for bodily injury to all persons, and $10,000 for property damage in any one accident. Mandatory "no-fault" coverage of $50,000 is also required. Many motorists carry higher liability limits and additional personal injury protection beyond these minimum benefits required by law. The law also requires all auto insurance policies to provide uninsured motorist coverage (for bodily injury), subject to the same minimums. In addition, UIM/SUM (Supplementary Uninsured/Underinsured Motorists) coverage can also be purchased, in amounts up to the bodily injury liability limits of an insured's own policy. For example, an insurer must offer UIM/SUM limits of $250,000 per person per accident and $500,000 per accident ($250,000/$500,000) if a person has bodily injury liability limits of that amount or higher. Insurers may offer higher UIM/SUM limits if they wish.
Sometimes claimants have trouble getting their insurance company to honor their uninsured (UM) or underinsured motorist (UIM) claim. Getting the insurance company to compensate fairly for all the damages incurred is another problem frequently encountered. You should therefore contact an accident attorney as soon as possible following an accident, which caused you to be injured.
Find out how our experienced attorneys can help you obtain the compensation that you deserve. At Sackstein Sackstein & Lee, LLP, we offer a free consultation where we will discuss your UM/UIM accident and the prospects of helping you with your claim. Because we handle cases on a contingency fee basis, there is no out-of-pocket expense involved to retain our assistance.
Call us toll free at 888.519.6400, or contact us in Garden City at 516.248.2234, or in Flushing-Queens, Brooklyn or the Bronx at 718.539.3100. You can also fill in our contact form, and we will get in touch with you.
With offices throughout New York City and the Long Island area the personal injury attorneys at Sackstein Sackstein & Lee, LLP, assist accident victims throughout New York, including the cities of Manhattan (NYC), Brooklyn, Bronx, Queens, Flushing, Bayside, College Point, Jamaica, Jackson Heights, Elmhurst, Corona, Long Island City, Elmont, Forest Hills, Ozone Park, Springfield Gardens, Rosedale, Laurelton, Hollis, Ridgewood, Nassau, Hempstead, Elmont, Mineola, Freeport, Garden City, Uniondale, Westbury, Roosevelt, East Meadow, Levittown, Franklin Square, New Hyde Park, Williston Park, Valley Stream, as well as the communities in and around Nassau and Suffolk County, NY.
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