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 hardy warning today to all motorists in the State of New York to check their insurance policies to be clear-cut they have adequate uninsured and supplemental underinsured coverage in the situation of a serious injury caused by an uninsured, underinsured, or hit - and - run driver.
“One of the hardest things in my profession, ” Levine verbal, “is to have to communicate 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 drawn out, “or the passengers, sustain catastrophic injuries as a upshot of an accident with an underinsured vehicle, $25, 000 may not consistent scratch the surface in terms of adequately compensating the victim for his, or her, pain and suffering. ”
A bill hanging in the New York State Assembly ( SO4705 ) would require motor vehicle insurance providers to care their insureds with uninsured and underinsured motorist coverage that is equal to the amount of the insured’s liability coverage. At last, an insured may have adequate liability coverage, only to find out, after an accident with either an uninsured or underinsured motorist, that he or doll has inadequate uninsured or underinsured coverage to fairly recoup the driver for his or her injuries.
“If this bill passes it will help lift the shroud of question surrounding this important issue, ” Levine spoken. “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 turn out their insured’s with at beginning $25, 000 of uninsured or underinsured motorist coverage, make a limited profit on these supplemental programs, so licensed is infinitesimal, or no, business drive to push the coverage on their policyholders.
“Any driver, ” Levine uttered, “who doesn’t have at number one $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 inadequate wider value in any automobile policy. ”
A burgeoning toss around by the Insurance Research Council estimates that 14 % of drivers nationwide, and 7 % of drivers in New York State, are uninsured.
As congenerous, Levine warns that motorists should never found themselves, or their families, in a set where if serious injuries are stretching in a motor vehicle accident, all they can recover is $25, 000.
“Most drivers, ” he spoken, “assume wrongly that every driver on the road is sufficiently mysterious by automobile insurance. That is not identical stuffy to being the case. Unfortunately, most people envisage that they didn’t buy enough UM / Quota coverage when it’s too late, after they’ve been seriously injured in an accident by a driver who is either uninsured, or has only minimum insurance. ”
To further emphasize his point, Levine pointed to a case he earnest recently involving a 16 - extent - old boy who was working ration life span 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 spoken. “The boy longish 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 as his parents didn’t have enough underinsured coverage, my client was only able to get from $25, 000 for his injuries, which is a completely inadequate outcome. I take notice these regrettable situations repeat themselves continuance and again. ”