Car Accidents FAQ
Protection afforded by automobile insurance is an issue with many different nuances. Responsible people who drive cars think of protecting their assets by purchasing liability coverage in the event they cause an accident which injures another. In addition, the liability policy will create a source of recovery for the person injured and help to lessen the impact of an accident. This is a kind of societal contract whereby citizens protect one another in light of the fact that accident can and do happen. However, since the law in Wisconsin does not require that an owner or operator of a car be covered by a liability insurance policy, there are fundamental steps that should be taken by anyone seeking to fully protect themselves and their families. First, of course, is the responsible step of purchasing a liability insurance policy for the reasons mentioned above. The minimum liability policy in Wisconsin is $25,000 and the premium for such a policy is a function of many facts, including where the car is garaged, the age and driving record of those who regularly drive the vehicle, and the make, model, and age of the vehicle. Once the decision is made to purchase insurance, be sure to price higher policy limits as extra coverage becomes cheaper as the limits go up. Fortunately, our legislature has mandated that every policy of liability insurance be accompanied by Uninsured Motorist (UM) coverage. The result is that when a consumer buys a liability policy the car and its occupants are covered by insurance in the event they are injured by a driver who carries no insurance. What's more, this UM coverage is personal and portable, that is, it follows the insured if they are injured by an uninsured driver when they are a pedestrian or a passenger in someone else's car. However, that is not the end of the reasonable steps to be taken to fully protect you and your family. There is another type of auto insurance that is necessary. This coverage is referred to as Underinsured Motorist (UIM) coverage and it steps in to fill the gap between the policy limits of a driver with low liability limits and the full damages sustained by the insured. For example, if you are injured by a driver with $25,000 of liability coverage but your full damages are $75,000, there is obviously a gap between the other driver's policy limit ($25,000) and your damages ($75,000). If you had the foresight to purchase UIM coverage of $100,000 you would be able to go to your own company for the $50,000 difference between the other driver's policy limit and your damages. UIM coverage is inexpensive coverage and it is necessary for the full protection of you and your family. But you won't have it unless you insist that your insurance agent include it on your policy. Last, the procedure by which you can recover the other driver's policy limits and still keep alive your claim against your own UIM carrier is somewhat involved. If not done correctly you could forfeit your right to make a claim under your UIM provision. At Domnitz and Skemp we have years of experience in helping injured people wind their way through these procedures. Be smart, protect yourself and your family fully through the purchase of UIM coverage on all your auto policies. If you have questions about this or any aspect of personal injury matters, give us call (414-289-0909) or contact us through our website at
http://www.domnitzlaw.com/.
