Underinsured Motorist and Self-Coverage
Hey everyone,
About a month ago, I was involved in an accident for which I was not at fault. Unfortunately, my car was deemed a total loss, valued at approximately $24,000. The driver who caused the accident only has a liability limit of $10,000. To make matters worse, I don’t have collision coverage (lesson learned!). I do have uninsured/motorist bodily injury coverage of $15,000/$30,000 and uninsured motorist property damage coverage of $3,500, but I don’t believe that applies in my situation.
Can I accept the settlement from the at-fault driver’s insurance and then pursue my own insurance (Progressive) for compensation related to my medical expenses? I don’t intend to take legal action against the driver, so I’m feeling a bit stuck in recovering my losses. Any advice would be appreciated!
I’m sorry to hear about your accident; that sounds really frustrating. In your case, it seems you have a couple of options you could explore.
Accepting the At-Fault Driver’s Insurance Payout: Yes, you can accept the at-fault driver’s insurance payout of $10,000 for the property damage. However, be sure that you fully understand the implications, as accepting this payout may prevent you from pursuing further claims related to your vehicle’s value.
Pursuing Your Own Insurance for Medical Injuries: Since you have uninsured motorist bodily injury coverage, you can definitely pursue a claim with your insurer (Progressive) for your medical expenses resulting from the accident. Talk to them about the specifics of your policy and how they handle claims under uninsured motorist coverage, particularly focusing on the $15,000 limit.
Potential for Additional Claims: If your medical expenses from the accident exceed the limits of your uninsured motorist bodily injury coverage, your own policy may also have additional options (like medical payments coverage, if you have it). It’s worth discussing any and all coverages you might have with your insurance agent.
Consult an Attorney: Given the complexities and the fact you’re dealing with injuries, it may be beneficial to consult with a personal injury attorney. They can help clarify your options and ensure you receive the maximum compensation possible given your situation.
Overall, it’s essential to document everything related to the accident and keep track of medical expenses. Good luck, and I hope you find a resolution soon!