Who Covers My Losses after a Hit-and-Run Accident?
If you’ve been involved in a hit-and-run accident, chances are your only source for recovering losses is your own car insurance policy. In New York, uninsured/underinsured motorist coverage must be included in motor vehicle insurance policies. In fact, every vehicle registered in New York must carry minimum personal injury liability coverage of $25,000 per person and $50,000 per accident. Unfortunately, not everyone behind the wheel has auto insurance. In fact, the Insurance Research Council claims nearly one in six drivers throughout the United States is uninsured. In New York, it’s estimated that one in 20 drivers is uninsured. With 11.4 million motorists on the roads in New York, that translates into 570,000 drivers driving without insurance.
Equally concerning is the effect of the economy on uninsured motorist rates. The Insurance Research Council has noticed a correlation between the unemployment rate and an increase in uninsured motorists. According to the Insurance Research Council, a one-percentage-point increase in unemployment results in a three-quarters-of-a-percentage-point increase in the rate of uninsured drivers.
Is Purchasing Extra Uninsured Or Underinsured Motorist Coverage Worth It?
While the minimum amount of personal liability coverage is contained in all auto insurance policies, purchasing more coverage makes a great deal of sense. Each insurance company offers different rates based on your driving record, credit rating, and other factors. In general, $100,000 of coverage can cost as little as $52 a year — roughly $1 a week. Even if investigators eventually catch up to the driver who hit you, he or she may not have enough coverage to pay for all of your losses. For these and other reasons, purchasing extra uninsured/underinsured motorist coverage makes a great deal of sense.
Having Problems with Your Insurer? Contact Rosenberg & Gluck
Of course, just because you have uninsured driver coverage does not mean your insurer will not give you the runaround. In fact, under these circumstances, your own insurance company becomes your adversary. It may take its time investigating your accident to try and shift more blame onto you to reduce the amount it has to pay you. It will contest both the cause and severity of your injuries. It will do whatever it can to avoid paying you or to pay you as little as possible. We negotiate with, arbitrate against and sue insurance companies on a regular basis to make sure our clients receive the money to which they are entitled.
At the Long Island, New York, personal injury law office of Rosenberg & Gluck, our car accident lawyers have years of experience dealing with insurance companies in uninsured/underinsured motorist claims. Our car accident attorneys understand how to work with investigators, police reports and eyewitness statements when demanding fair compensation for our clients.
To schedule a free consultation and learn more about our practice and how we can help you, email or call Long Island personal injury lawyers at 631-451-7900.