The Benefits of Uninsured Motorist Coverage
In an ideal world, every motorist on the road would have adequate insurance coverage. Unfortunately, we live in a reality where this isn’t always the case. Uninsured motorist coverage is a critical component of your auto insurance policy that protects you against the unexpected—like an accident with an uninsured driver. In Maryland, where insurance laws have a unique structure, having uninsured motorist coverage can prove to be a lifeline in difficult times. Continue reading to learn about the specific benefits this coverage offers and why every Maryland driver should consider it.
Understanding Uninsured Motorist Insurance
Uninsured Motorist Insurance, often abbreviated as UM insurance, is a type of auto insurance coverage that protects you if you’re involved in an accident with a driver who does not have liability insurance or in the case of a hit-and-run incident. This coverage also applies if the other driver’s insurance is insufficient to cover the costs associated with the accident.
In Maryland, UM insurance covers both bodily injury and property damage, meaning it can help pay for medical expenses, lost wages, and even repair costs for your vehicle. In the event of an accident where the at-fault driver is uninsured, your UM insurance steps in as if it were the other driver’s liability coverage. It’s an essential safeguard that ensures you won’t bear the financial burden alone when faced with such unfortunate circumstances.
The Statistics: Uninsured Drivers in Maryland
Encountering an uninsured driver in Maryland is more common than you might think. According to the Insurance Information Institute, roughly 12.4% of motorists or about one in eight drivers, in Maryland were uninsured in 2019. These figures may seem insignificant at first glance, but when you consider the state’s population, it translates to a substantial number of drivers on the road without adequate insurance coverage.
This means that if you are involved in an accident in Maryland, there is a significant chance that the other driver could be uninsured. Such statistics underscore the importance of having uninsured motorist coverage as part of your auto insurance policy in Maryland. It’s not just about complying with the law—it’s about shielding yourself financially and ensuring peace of mind every time you hit the road.
Is Uninsured/Underinsured Motorist Coverage Mandatory in Maryland?
In accordance with Maryland law, it is indeed mandatory for drivers to purchase uninsured/underinsured motorist bodily injury liability insurance. The law specifies a minimum coverage amount of $30,000 per person for any injuries sustained in an accident, with a limit of $60,000 per accident. This mandatory car insurance coverage ensures that, even in situations involving uninsured or underinsured drivers, victims can secure at least some financial recovery for their injuries. However, it’s important to note that these are simply the minimum amounts stipulated by law. Drivers have the option—and indeed may find it advantageous—to purchase coverage exceeding these statutory minimums, providing an additional safety net in the case of serious accidents.
Benefits of Uninsured Motorist Coverage
Financial Protection
The primary benefit of uninsured motorist coverage is the financial protection it provides. If you’re involved in an accident with an uninsured or underinsured driver, you can end up facing significant out-of-pocket expenses. This can include medical bills, property damage, and loss of income due to injuries. Without uninsured motorist coverage, you would be solely responsible for these costs. However, with this type of coverage, your insurance company would step in to cover these expenses, saving you from potential financial hardship.
For example, consider a scenario where the other driver is at fault but doesn’t have insurance. If the cost to repair your vehicle and your medical bills total $20,000 without uninsured motorist coverage, you would need to find a way to cover those costs yourself. But, if you have uninsured motorist coverage, your insurance company would cover these costs up to your policy limit.
Moreover, in the event of a hit-and-run accident where the other driver is not identified, uninsured motorist coverage would still apply, providing you financial protection even in these most challenging situations. This coverage can also cover you in situations where you are a pedestrian or cyclist and are hit by an uninsured or underinsured driver.
In short, uninsured motorist coverage can save you from significant financial loss and stress in the wake of an accident with an uninsured or underinsured driver, providing you with a critical financial safety net.
Coverage in Hit-and-Run Accidents
One of the most distressing aspects of a hit-and-run accident is the perpetrator leaving the scene without being identified. This can leave victims feeling hopeless and burdened with financial costs. However, if you have uninsured motorist coverage in Maryland, this unfortunate scenario becomes significantly less daunting.
Uninsured motorist coverage provides protection for victims of hit-and-run accidents, even when the perpetrator is never found. This coverage kicks in to cover medical bills, vehicle repair costs, and other associated expenses that arise from the accident. It’s akin to having a safety net that catches you when the unexpected occurs, ensuring that you don’t bear the brunt of financial distress caused by a hit-and-run driver.
By including uninsured motorist coverage in your auto insurance policy, you’re not just protecting your wallet—you’re investing in your peace of mind, knowing that you’re covered in case of such events.
Protection For Your Passengers
Uninsured motorist coverage also extends to protect your passengers in the event of an accident with an uninsured or underinsured driver. If you have friends, family members, or other individuals riding with you, they can also benefit from this coverage if they sustain injuries in an accident caused by someone without adequate insurance. This additional level of protection is invaluable and can provide crucial financial support for your loved ones in a time of need.
More Coverage In Other Scenarios
Underinsured motorist coverage plays a vital role in more than just accidents involving uninsured or inadequately insured drivers. It can also provide substantial financial protection in other types of incidents. For instance, if you are struck by a driver who has insurance but whose coverage limits are insufficient to cover the total cost of your injuries or property damage, your underinsured motorist coverage can step in to bridge the gap. This ensures that you’re not left with the burden of covering these additional costs out of your own pocket. Moreover, if you’re involved in a multi-vehicle accident where multiple parties are at fault, underinsured motorist coverage can help cover costs that exceed other drivers’ insurance limits. In essence, having underinsured motorist coverage adds an extra layer of protection, ensuring you’re financially secure in various accident scenarios.
Supplementary Coverage
An additional advantage of uninsured motorist coverage is the supplementary coverage it provides when the at-fault driver’s insurance is inadequate. In situations where the costs of damages exceed the limits of the at-fault driver’s coverage, it may seem like you’re left holding the short end of the stick. However, with UM insurance, you won’t have to worry about these unexpected shortfalls.
Your uninsured motorist coverage can supplement the amount, bridging the gap between the at-fault driver’s insurance limit and the actual costs of damages. This ensures that you are fully compensated, regardless of the limitations of the other driver’s policy, further fortifying your financial protection on the road.
Legal Compliance
In Maryland, maintaining uninsured motorist coverage is more than a prudent safety measure—it’s a legal requirement. The state’s traffic laws dictate that drivers must carry, at the very least, the minimum amount of uninsured motorist coverage stipulated by law. This mandate is not just about ensuring financial protection for motorists; it’s also about upholding law and order on the roads. Therefore, by securing uninsured motorist coverage, you’re not only safeguarding your financial interests but also ensuring that you remain compliant with Maryland’s traffic laws. This adherence to the law can save you from potential legal troubles while also promoting safer roadways for everyone.
Peace of Mind
Lastly, but certainly not least, uninsured motorist coverage provides peace of mind. Knowing that you are covered in the event of an accident with an uninsured or underinsured driver alleviates worry and allows you to focus on what’s truly important—recovering and moving forward.
This peace of mind extends beyond the immediate aftermath of an accident. It means not having to stress about the potential financial burden of medical bills, vehicle repairs, or lost wages. It means having the backing of your insurance company to navigate these challenges rather than facing them alone. Ultimately, the peace of mind afforded by uninsured motorist coverage is priceless, creating a sense of security every time you get behind the wheel.
This list is not exhaustive, but it gives an overview of how uninsured motorist coverage can benefit Maryland drivers. Insurance is a necessary protection against the unpredictable, and uninsured motorist coverage ensures you are protected even when other drivers fail to take that responsibility.
Types of Uninsured Motorist Insurance
Uninsured motorist insurance comes in two main types:
Uninsured Motorist Bodily Injury (UMBI)
Uninsured Motorist, Bodily Injury coverage protects you and your passengers if you’re involved in an accident with an uninsured or underinsured driver and bodily injuries are sustained. It can cover medical bills, lost wages, and pain and suffering.
Uninsured Motorist Property Damage (UMPD)
This type of coverage protects your property, usually your vehicle, in the event of an accident with an uninsured or underinsured driver. It can help pay for repairs to your vehicle or replacement of damaged property.
It’s important to note that the specific details of these coverages can vary from state to state and from one insurance company to another. Always consult your insurance provider to understand the extent of your coverage in your own car insurance policy.
How To File An Uninsured/Underinsured Motorist Claim
If you are involved in an accident with an uninsured or underinsured driver, it’s crucial to know the steps to file a claim with your own insurance company.
Notify the Authorities
As soon as the accident occurs, contact law enforcement. A police report provides an objective third-party account of the incident, which can be crucial evidence when filing your claim.
Document the Incident
Take photos or videos of the accident scene, your vehicle, and any injuries sustained. Also, collect contact information from any witnesses present.
Seek Medical Attention
Even if injuries are not immediately evident, see a healthcare professional right away. Some injuries may not manifest until later, and having a medical record linking your health condition to the accident is important.
Contact Your Insurance Company
Report the accident to your insurance provider as soon as possible. Inform them that the other driver was uninsured or underinsured.
File the Claim
Your insurer will guide you through the process of filing a claim. Provide them with all the documented evidence from the accident, including the police report and medical bills.
Seek Legal Help If Necessary
If the insurance company refuses to honor your claim or offers a settlement that does not cover the full extent of your damages, you may need to seek legal assistance. A personal injury lawyer can help negotiate with the insurance company on your behalf and ensure you receive fair compensation for your uninsured motorist claim.
Uninsured motorist coverage is an essential aspect of car insurance for Maryland drivers. It provides financial protection, legal compliance, and peace of mind in the event of an accident with an uninsured or underinsured driver.
Our Car Accident Lawyers Are Here For You
In the event of an accident involving an uninsured or underinsured motorist, remember that you are not alone in this challenging situation. Our team of experienced car accident lawyers at Chaikin, Sherman, Cammarata, & Siegel P.C. is here to provide the necessary legal assistance and support. We are uniquely equipped to navigate the complexities of uninsured motorist claims, ensuring that your legal rights are upheld and you receive the compensation you are entitled to. We encourage you to reach out to us at your earliest convenience following an accident. Your road to recovery begins with a single, simple step—contact us today.
