New York state requires minimum liability insurance on any vehicle registered in the state. The Current Minimum requirements are 25/50. This means that the maximum coverage a policy holder would be afforded by his Insurance Company, would be $50,000 per accident, with no one injured person eligible to receive more than $25,000.
It has been our Firm's Experience that these limits are greatly insufficient to compensate injured accident victims. We greatly urge all of our firm' client's, loved ones and their friends to contact their insurance brokers and agents to discuss the addition of Underinsured Motorist Protection. Underinsured Motorist Protection, also known as SUM/UIM, allows a responsible automobile owner to protect themselves and their household family members against individuals, who have insufficient insurance coverage. Thus, even if you are not at fault for an accident, you may be eligible to recover significantly more money from your own insurance company. Underinsured motorist coverage is an inexpensive option which typically adds under $50 to your annual premium. However, this low cost option can be the difference between heartache and disappointment, and adequate compensation.
Contact us today to further discuss this important issue.