SupplementaryUninsured Motorists

My friend Ron, who lives in another state, was waiting in a toll plaza when he got creamed in the rear by a fast moving car.  Ron was hospitalized for two months and will limp until the day he dies.  The idiot that hit him carried insurance with the lowest legal limits.   Ron collected $25,000 from the other insurance company.  His business went under because he couldn’t work for the six months he was convalescing and he ran through his savings as he tried to keep up with his mortgage, grocery bills, etc.   

In New York we have “Supplementary Uninsured Motorists”coverage available up to the same limits you carry for Bodily Injury Liability on your auto insurance policy.  If you carry $100,000/$300,000 Bodily Injury Liability limits you can purchase the same amount for “Supplementary Uninsured Motorists” (SUM) coverage.  This is a very big deal.  This coverage provides benefits for you if you are injured by someone with no insurance AND it also can provide money foryou if the person that hits you has inadequate coverage limits.  Super simplified:  If you are hurt and have injuries that would normally result in a $100,000 settlement but the guy that hit you only has $25,000 of coverage, you can get the balance from your own carrier.

Right now is the time to pull out your policy (or call me) to make sure that your “SUM” limit is the same as the Bodily Injury Liability limit.  If you are carrying low Bodily Injury Liability limits you need to consider raising them, even if it is just to beable to raise the “SUM” limit too.

Incidentally, I do a lot of walking and bicycling.  If I get hurt by a passing car, the “SUM” on my personal auto policy will cover me if I need it.

If you are interested in having us review your policy,please send us an email or give us a call. 

Lan Rice