Do I Need UM Coverage In KY?

Do I Need Uninsured Motorist Coverage (UM) In Kentucky?

Uninsured Motorist Coverage (UM)

The purpose of Uninsured Motorist Coverage (UM) is to protect yourself in case you are injured in an auto accident by someone who doesn’t have car insurance. This can easily be confused with Underinsured Motorist Coverage. However, they are separate and distinct types of coverage.

UM is for when you are hurt in a car wreck where the other driver has no insurance at all. It can also be used in cases where the driver fled the scene and cannot be identified. Continue reading

Do I Need UIM Coverage In Ky?

Should I Have Underinsured Motorist Coverage In Kentucky?

What Is Underinsured Motorist Coverage (UIM)?

The purpose of Underinsured Motorist Coverage (UIM) is to protect yourself in case you are injured in an auto-accident by someone who has insurance coverage that is insufficient to cover the cost of your losses.

When most people think of losses in a car wreck the first thing that comes to mind is the damage to their car, but this is often just the tip of the ice berg. Modern medicine is a wonderful thing that can save lives and cure injuries in ways once not thought possible, but if you are seriously hurt in a car wreck you will find the costs of your medical treatment quickly surpass the cost of replacing your vehicle; in addition to lost wages.

Why Should I Have Underinsured Motorist (UIM) Coverage In KY?

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How Much Car Insurance Do I Need in KY?

Understanding Car Insurance Policies

What is Car Insurance?

Generally, when you ask someone about their car insurance policy they will simply tell you if they have full coverage or liability insurance. Unfortunately, for someone injured in an auto accident this is the least important part of the policy.

If you ask the same question of most attorneys, they answer with a set of numbers. The numbers they are referring to are their insurance policy limits This means the maximum amount their insurance company will pay if they are involved in an accident. They might give an answer like $300,000/$500,000 for bodily injury and $300,000 for property damage.

The reason they give two numbers is insurance companies’ cap how much they will pay for the injuries of a single person and how much they will pay for the entire accident. Continue reading