Too often, individuals suffer serious and disabling injuries as a result of a vehicle related accident, but the person or business responsible does not carry enough insurance to adequately compensate him or her.
For example, a man was permanently disabled after being struck by a motor vehicle while he was walking to his car. The at-fault driver fled the scene and was unable to be identified. This man suffered catastrophic injuries, underwent numerous surgeries and could not return to work. Despite an exhaustive investigation the only insurance available to compensate him for his medical expenses, pain and suffering, and lost wages was his Uninsurance coverage in his automobile insurance. Unfortunately, despite his debilitating injuries, he only carried the minimum policy of $20,000 per person/40,000 per accident.
How do I protect myself and the other passengers in my car?
With respect to automobile insurance coverage, the most powerful thing you can do to be responsible for yourself and your loved ones is make sure you carry high Under Insurance and Uninsurance coverage. Under insurance coverage will protect you if your injuries and damages exceed the insurance coverage of the at-fault driver. Uninsurance coverage will protect you if you are injured by an unidentified person (‘hit and run’) or uninsured vehicle.
At minimum, I would suggest carrying $100,000 per person/$300,000 per accident of Under/Uninsurance coverage. Generally this is referred to as a ‘100/300 policy’. While Massachusetts requires that vehicles carry at minimum $20,000/$40,000, this is rarely adequate and will not protect you in an underinsured situation.