Do You Really Have "Full Coverage" With Your Auto Insurance?
Finding out that the driver who caused a collision does not have automobile insurance to cover one’s damages can be devastating news for those injured in a car wreck. Investigating insurance coverage is one of the most important steps when assisting a client after a wreck. The success of a claim largely depends on the availability of insurance coverage and money to cover one’s damages.
The percentage of uninsured vehicles continues to rise in Georgia. According to a 2023 study by the Insurance Research Council (IRC), an estimated 18.1 % of drivers in Georgia did not possess automobile liability insurance. This means that approximately one out of every six vehicles on the road in Georgia does not have insurance to cover one’s property damage, medical costs, lost wages, and other losses in the event of a crash. In 2019, 12.4 % of vehicles in Georgia were uninsured, and Georgia was ranked 7 out of all U.S. states at that time with the highest percentage of uninsured vehicles.
Registered vehicles in Georgia are required by law to have the minimum liability insurance coverage of $25,000.00 per person and $50,000.00 per occurrence for bodily injury and $25,000.00 per occurrence for property damage. The cost of medical treatment alone can quickly exceed the minimum per person bodily injury coverage of $25,000.00, and that does not even take into account one’s lost wages or pain and suffering. The value of one’s vehicle may also easily exceed the minimum property damage coverage of $25,000.00. Since many people who are killed or injured in a wreck have claims greatly exceeding the minimum limits, many vehicles in Georgia are “underinsured.”
Fortunately, insurance companies in Georgia are required to offer uninsured and underinsured motorist coverage. This type of insurance coverage is meant to help cover one’s medical costs, pain and suffering, lost wages, property damage, and other claims in the event the at-fault driver was uninsured or did not have enough coverage. UM coverage is not required though, and often people reject UM coverage to save money. With the hindsight of being involved in a car wreck and learning that the other driver was uninsured or underinsured, one quickly understands the value of UM insurance.
Uninsured and underinsured motorist coverage is important enough that you should take the time to review your policy and declarations page and talk with your insurance agent to see if you have purchased this type of coverage. UM coverage is a relatively inexpensive option, especially when one considers how many uninsured and underinsured vehicles are on the roadway.
If you were injured in a car wreck and suspect that the other driver does not have insurance coverage or lacks sufficient coverage, do not hesitate to call our office for a free consultation. Our firm diligently investigates all possible liability coverage and UM coverage. We would love to hear from you today.