Friday, July 19, 2013

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 brawny warning today to all motorists in the State of New York to check their insurance policies to be indubitable they have adequate uninsured and supplemental underinsured coverage in the mistake of a serious injury caused by an uninsured, underinsured, or hit - and - run driver.
“One of the hardest things in my profession, ” Levine oral, “is to have to divulge 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 stretched, “or the passengers, sustain catastrophic injuries as a execution of an accident with an underinsured vehicle, $25, 000 may not alike scratch the surface in terms of adequately compensating the victim for his, or her, pain and suffering. ”
A bill unsettled in the New York State Assembly ( SO4705 ) would require motor vehicle insurance providers to prepare their insureds with uninsured and underinsured motorist coverage that is equal to the amount of the insured’s liability coverage. Fundamentally, an insured may have adequate liability coverage, only to find out, after an accident with either an uninsured or underinsured motorist, that he or maid has inadequate uninsured or underinsured coverage to fairly retrieve the driver for his or her injuries.
“If this bill passes it will help lift the shroud of question surrounding this important issue, ” Levine uttered. “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 implement their insured’s with at inceptive $25, 000 of uninsured or underinsured motorist coverage, make a limited profit on these supplemental programs, so professional is hardly any, or no, business wish to push the coverage on their policyholders.
“Any driver, ” Levine oral, “who doesn’t have at primitive $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 limited and profit in any automobile policy. ”
A young regard by the Insurance Research Council estimates that 14 % of drivers nationwide, and 7 % of drivers in New York State, are uninsured.
As allying, Levine warns that motorists should never station themselves, or their families, in a mood where if serious injuries are rangy in a motor vehicle accident, all they can recover is $25, 000.
“Most drivers, ” he vocal, “assume wrongly that every driver on the road is sufficiently disguised by automobile insurance. That is not commensurate airless to being the case. Unfortunately, most people know that they didn’t buy enough UM / Aggregate coverage when it’s too behind, after they’ve been seriously injured in an accident by a driver who is either uninsured, or has only minimum insurance. ”
To further ornament his point, Levine pointed to a case he unflinching recently involving a 16 - trick - mature boy who was working lump point 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 continued 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 Sum coverage. Trim after surgery, his leg injury could cause him problems for the rest of his life. But in that his parents didn’t have enough underinsured coverage, my client was only able to snag $25, 000 for his injuries, which is a completely inadequate outcome. I behold these regrettable situations repeat themselves second and again. ”

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