When you’re injured in an accident, your ability to recover a fair settlement often depends on factors beyond your control, especially the insurance coverage of the at-fault party. No matter how serious your injuries are, you may be limited by the amount of insurance the negligent driver carries. In New York State, the required minimum bodily injury liability coverage is only $25,000 per person. Years ago, it was even lower at $10,000, and despite inflation and rising medical costs, it has remained at $25,000 for far too long.
The unfortunate reality is that the worst drivers often carry the minimum coverage. With insurance costs continuing to rise, more people may even reduce their coverage to save money, leaving injury victims struggling to secure the compensation they need. However, there are proactive steps you can take to maximize your potential settlement.
Increase your Uninsured/Underinsured Motorist coverage now
One of the best ways to protect yourself before an accident ever happens is to increase the Uninsured/Underinsured Motorist (UM/SUM) coverage on your own car insurance policy. This coverage applies when the at-fault driver has little or no insurance, giving you access to additional compensation if you’re seriously injured. A minimum of $250,000 in UM/SUM coverage is recommended but you may want to increase the average to $500,000 or over a million to ensure you’re adequately protected.
Many drivers wrongly assume that if they’re hit by someone with no insurance or not enough insurance, they’ll automatically be covered. Unfortunately, that’s not the case unless they’ve chosen higher UM/SUM limits on their own policy. By increasing this coverage now, you’re taking a critical step to safeguard your financial future in the event of a serious accident. Moreover, this coverage is like a shadow and covers you no matter where you are or whose care you are in. It covers you while walking your dog or riding your bicycle and it covers every person related to you who lives in your household.
Investigate other sources of insurance
If you’re involved in an accident, gathering as much information as possible at the scene can help identify additional sources of insurance. Sometimes, there may be coverage beyond the other driver’s personal auto policy.
Look for signs that the at-fault driver was working at the time of the accident. If they were driving for a rideshare company like Uber or Lyft, or delivering for services such as Uber Eats, DoorDash, GrubHub, or Amazon, there may be a commercial insurance policy that provides additional coverage. These companies often have higher insurance limits when their drivers are on duty, which could mean a larger potential settlement for you.
Document everything at the scene extensively
To help uncover these potential sources of compensation, it’s important that you document everything at the accident scene. Take photos of all vehicles involved, any visible damage, the surrounding area, the other driver’s license plate and any signage or decals on the other driver’s car. Additionally, if the at-fault driver is wearing a uniform, hat, or shirt with a company logo, take note of that as well. Any small detail could lead to an additional insurance policy that your lawyer can pursue on your behalf.
Share all information with your lawyer
Once you have gathered all the information you can, you will want to make sure you share it with your attorney as soon as possible. A skilled personal injury lawyer will investigate these leads and determine whether additional insurance coverage is available to increase your potential settlement. Your attorney can also contact insurance companies directly and uncover policies that may not be immediately disclosed by the at-fault driver.
Protect Yourself Before and After an Accident
Protecting yourself before and after an accident can make all the difference in securing the compensation you deserve. If you’ve been injured in an accident, reach out to the North Shore Injury Lawyer on Long Island at 631-495-9435 for a free consultation. With over 30 years of experience, Mark has the expertise needed to help you maximize your settlement. Stay safe out there!