Do I Have Enough Motor Vehicle Insurance??
Attorney
(866) 735-1102 Ext 540
This past summer, particularly in the geographic area of our Cape Cod offices, there were more car accident fatalities than there had been in many years. When these tragedies occur, the surviving family often includes a spouse and minor children. Unfortunately, we often find that there exists insufficient coverage available to provide for the survivors.
With the economy in a tailspin, consumers are looking everywhere to cut costs. Motor vehicle liability coverage, particularly what is known as "uninsured/underinsurance" coverage often takes a hit, with many policyholders opting for minimal coverage of 20,000/40,000. Dont do it!!!
It is usually a frustrating experience to explain to a survivor that both the at fault driver and the decedent had the policy coverage minimums and that there is a ridiculously small amount of money available to compensate the surviving family members. Of course, this scenario also exists when there has been a car accident and the injured parties have sustained serious injuries.
The only way to avoid this scenarion is to maintain adequate Uninsured or Underinsurance coverage of at least $100,000/$300,000, and preferably higher. When you speak with your insurance broker (which often occurs at this time of year), you will be surprised to find that the additional cost to maintain this coverage is not as expensive as you might think. You will then be protecting yourself and your family if the unanticipated occurs and someone is injured by an at fault operator carrying minimum coverage.