Insurance salesman will like me for saying it, but most people do not have enough insurance.
I am not an insurance salesman – far from it. I am a Chicago personal injury lawyer. Insurance companies probably don’t care for me very much. You see, I consistently get in their way of trying to pay out as little money as possible to people who have legitimate claims after a car accident. That being said, and insurance salesman will like me for saying it, most people do not have enough insurance.
What kind of insurance you ask? Health? Life? What I’m talking about is car insurance, more specifically, Uninsured (UM) and Underinsured Motorist (UIM) Coverage. UM coverage protects the policyholder who is injured by a motorist who does not have car insurance and is at fault. UIM coverage protects the policyholder if injured by a motorist who does not have enough insurance and is at fault.
Despite Illinois law, many drivers that use our roads do not have insurance. Many others do not carry enough insurance. It seems to me that the people who have little or no car insurance always seem to be the most irresponsible drivers. Case in point – We were recently retained by pedestrians who were struck by a drunk driver in Chicago. One of the pedestrians suffered a wrongful death and the others suffered very serious injuries. Our investigation revealed that the drunk driver (now in jail) had car insurance, the Illinois minimum of $20,000 per person and $40,000 in the aggregate. Since the drunk driver had minimal insurance and the pedestrians did not carry sufficient UIM coverage, it appears that their maximum available recovery, between the four of them, will be $40,000, a tiny fraction of what their cases are worth. If the pedestrians would have carried more UIM coverage, let’s say $250,000 or more, they would be in much better shape. I recommend that anyone who owns a car carry AT LEAST $250,000 in UM/UIM coverage. In our case, the pedestrian not only have to suffer physically and emotionally but financially as well.