Underinsurance

Question: If I am in an auto accident and sustain injuries that are so severe and the other party’s insurance limits are so low that they don’t even come close to compensating me, do I have any other recourse?

Answer:

Yes, you have other avenues of recourse. Your own insurance policy should have uninsured/underinsured motorist coverage. Under Ohio law, your insurance company must offer you uninsured/underinsured motorist coverage in the same amount as your bodily injury liability coverage, unless you decline such coverage in writing. You would, therefore, have your own policy limits available to you.

For example, if you are injured or sustain damages in a motor vehicle collision due to the fault of another person and your injuries and damages total $75,000, but the person at fault only has insurance in the amount of $25,000, and you have insurance in the amount of $100,000, then you can recover the difference ($50,000) from your own insurance company. You may also have an umbrella policy in conjunction with your homeowner’s insurance policy, which will cover the situation you described.

We also look to the person who was responsible for the collision to determine if they are collectible for the damages over and above the amount of insurance they have. However, when a person has minimum insurance, it is usually because they have minimum asset to protect and are, therefore, uncollectible.

It is always best to discuss your concerns with an attorney. Contact our office for further information, a free consultation, or representation, and we will be glad to give you our personal attention, or your may visit our website atsternbergandzeid.com or e-mail us at sternbergzeid@ameritech.net .

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