Do You Know The Importance of Underinsured Motorist Insurance and Umbrella Insurance?

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    October 6 2021

    The Importance of Underinsured Motorist Insurance and Umbrella Insurance

    Congratulations! You have auto insurance. Do you know your policy limits? What about the limits of every other driver on the road? What happens if you are injured in a car accident and the at-fault driver doesn’t have enough insurance to cover your damages? Or what happens if you are responsible for an accident, and you don’t have enough insurance to cover the other party’s damages? In both instances, additional insurance could help you. Namely, underinsured motorist insurance and umbrella insurance. Below, we will discuss the importance of underinsured motorist insurance and umbrella insurance.

    We hope the below discussion helps you make informed insurance decisions. We also understand that even the most informed driver can be injured in a car accident. If a driver injures you in a car accident, contact an experienced Las Vegas personal injury lawyer. A personal injury lawyer will help to protect your rights and ensure you receive maximum compensation.

    Anthem Injury Lawyers in Las Vegas has a dedicated team of lawyers and staff ready to help you win your personal injury case. Insurance companies are not motivated to pay you significant compensation. You need experienced guidance to help you win the compensation you deserve as a Las Vegas accident victim. Our attorneys offer over 25 years of experience winning compensation in personal injury cases. This is the level of experience you need to win top compensation as a Las Vegas accident victim. Our accident attorneys offer a proven track record of success representing clients for whom we’ve won significant compensation.

    Your choice of a Las Vegas personal injury lawyer is one of the most consequential decisions you will ever make. Take the time to choose wisely and select Anthem Injury Lawyers. Contact Anthem Injury Lawyers today at (702) 857-6000 to schedule a free consultation.

    What Is Auto Insurance?

    Auto insurance provides drivers and passengers financial protection from accidents or other vehicle-related accidental occurrences. States have minimum insurance requirements. In addition to the required coverage, drivers may purchase additional coverage. There are many types of auto insurance policies, including:

    • Liability coverage
    • Collision insurance
    • Comprehensive coverage
    • Uninsured motorist coverage
    • Underinsured motorist insurance
    • Medical payments coverage
    • Personal injury protection coverage
    • Gap insurance

    What Are Nevada’s Auto Insurance Requirements?

    Each state has different minimum coverage requirements for auto insurance. If you live in a state other than Nevada, ask your insurance agent about your state’s minimum auto insurance requirements.

    All drivers in Nevada must purchase an auto liability insurance policy. Liability insurance coverage protects you only if you are liable for an accident. It pays for the injuries to others or damages to their property.

    Nevada’s Auto Insurance Requirements

    If you own a car and live in Nevada, you are required to maintain a minimum automobile liability insurance policy of:

    • $25,000 for bodily injury or death of one person in any one accident;
    • $50,000 for bodily injury or death of two or more persons in any one accident; and
    • $20,000 for injury to or destruction of property of others in any one accident (property damage liability).

    The above requirements are the minimum amount of insurance you have to purchase. You can purchase more coverage protection than the minimum level of coverage required. When purchasing additional insurance, you should consider purchasing underinsured motorist insurance and umbrella insurance. Below, we will discuss why underinsured motorist insurance and umbrella insurance are so important.

    Dealing with insurance companies can be stressful, especially if you have been injured in a car accident. If you are injured in a Las Vegas area car accident, contact the experienced personal injury lawyers at Anthem Injury Lawyers. We have the experience necessary to help you win the compensation you deserve as a Las Vegas car accident victim. We have won many cases like yours for significant compensation. Get what you deserve as a Las Vegas car accident victim. Call Anthem Injury Lawyers today at (702) 857-6000 to make an appointment for a free consultation.

    Underinsured Motorist Insurance

    What happens if you are injured in a car accident that is not your fault? If the at-fault driver has auto insurance, it may pay for your injuries and/or property damage. However, medical bills can add up quickly. What happens if the at-fault driver doesn’t have enough insurance to pay for your injuries or damages? You may have to cover the costs yourself, which can create significant financial hardship.

    If you want to avoid this scenario, you should purchase underinsured motorist coverage. Underinsured motorist coverage can help cover costs if you are in an accident and your vehicle damages or bodily injury expenses exceed the at-fault driver’s insurance policy limits.

    You need to check with your insurance company to find out the policy coverage options. Underinsured motorist bodily injury coverage typically provides compensation for the following accident-related expenses:

    • Medical
    • Funeral
    • Loss of income
    • Pain and suffering

    Underinsured motorist property damage coverage provides coverage for repairs to your car. Without coverage, you may have to pay for car repairs yourself. Or, you may have to file a lawsuit against the at-fault driver in court.

    At least 10 percent of Nevada drivers are uninsured. Even if a Nevada driver is insured, they may only maintain the minimum required coverage. Oftentimes, the minimum coverage is not enough to cover your injuries in a serious accident. Underinsured motorist insurance is important. It helps to protect you in case the at-fault driver does not have enough insurance to pay for your injuries.

    Umbrella Insurance

    Umbrella insurance is another important insurance policy that you should consider. If you are reading carefully, you may have noticed that umbrella insurance was not included on the list of auto insurance policies. That was not a typo. Umbrella insurance provides additional coverage beyond your other insurance policies, including home and auto.

    Umbrella insurance typically kicks in when your underlying liability limits have been reached. For example, if you cause a car accident that seriously injures another person, they may have medical bills that exceed your policy limit. This could occur if their medical bills are $250,000 and your liability auto insurance only covers $150,000. If you have umbrella insurance, it could cover the remaining $100,000.

    Umbrella insurance can cover a wide range of expenses, including the following:

    • Bodily injury
    • Personal injury
    • Property damage

    Umbrella insurance can protect you and your assets if you get sued for an accident. Without umbrella insurance, you risk losing everything.

    Accidents can be scary and stressful. If you are involved in an accident, you should hire an experienced personal injury lawyer. An experienced Las Vegas personal injury lawyer can help you fight against other parties who do not have your best interests in mind. Anthem Injury Lawyers have over 25 years of experience specializing in personal injury claims. Contact us today at (702) 857-6000 to schedule your free consultation.

    EXPERIENCED LAS VEGAS PERSONAL INJURY LAWYERS

    We hope the above discussion helps you understand the importance of underinsured motorist insurance and umbrella insurance. Underinsured motorist insurance is especially important if a driver injures you in a car accident.

    Do you know what else is important if you are injured in a car accident? Contacting the law firm of Anthem Injury Lawyers. If you are injured in a car accident, you need the expertise that only a top personal injury lawyer can provide. Anthem Injury Lawyers have over 25 years of experience winning compensation in personal injury cases. Get the best car accident attorneys in Las Vegas on your side. Contact us to find out how our Las Vegas attorneys can give you the best opportunity to win significant compensation. Call Anthem Injury Lawyers today at (702) 857-6000 to make an appointment for a free consultation.

     

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