Reader’s Question:
Hey, peepz, I got into a motor accident here in Elyria, Ohio, and my insurance company tells me that I’m underinsured. I don’t know what the heck that means. Can someone please enlighten me here?
Hadrian
Elyria, Ohio
Hadrian, I’m not really very sure but as far as I am concerned, underinsurance is actually a policy option, so that means you were the one who chose that. So, I don’t understand why you were not aware of that. Next time, be more attentive to the papers you are signing and to the agent of the insurance company. Anyways, from what I know, being an underinsured motorist means that the damage in your car is covered, and also, if you have any physical injuries, that is covered as well IF it was the fault of the other motorist and not yours and if that motorist’s insurance policy is insufficient or is already exhausted to be able to pay for all of your expenses.
This actually saves you all the hassle of going to court and pursuing the other party because your underinsured motorist insurance policy will most likely pay for the punitive damages. I don’t know about how it is there in Elyria, Ohio, but in some states, some companies even pay for the property damages. Why don’t you ask your insurance company for more information about being an underinsured motorist because I’m sure that there are certain policies there in Ohio that governs this kind of claims? And also, I don’t know what is going to happen if you’re the party at fault. I guess you would be in real trouble.
Tags: auto insurance claims, car insurance agent, Car Insurance Company