Although auto insurance is a requirement in Ohio, many motorists fail to purchase it. The most common reason why is because of the cost. Depending on a person's driving history, insurance may cost more than $100 a month. This is a huge expense for many people, whether they are a young adult with a part-time job, a middle-aged single mom or a retired person on a limited income. So, they go without the insurance and then one day cause an accident. What happens next?
Ohio motorists must purchase liability coverage that amounts to $25,000 per person and $50,000 for everyone involved in a crash. Because some motorists don't carry this much coverage - or none at all - motorists may want to protect themselves by purchasing uninsured/underinsured motorist coverage. UM/UIM coverage pays your bills in the event that you are hit by a driver without adequate insurance. Without this coverage, you could receive nothing - even if you are seriously injured and the accident was not your fault.
Even though you pay your insurance premiums on time, it's important to understand that insurance companies are not always looking out for your best interests. They are in the business to make money, and when they have to pay a claim, they lose money. Therefore, insurance companies will sometimes do whatever they can to deny your claim. It's imperative that you follow the instructions your agent gives you; don't take a settlement from the other party without approval.
Claims involving uninsured motorists can be tricky. If you are involved in a car accident caused by a driver who doesn't have enough insurance, there may be legal options. One wrong step in the process and you could be barred from receiving any financial recovery for damages.
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