In my last blog, I discussed bodily injury coverage, today is my favorite coverage – SUM (supplemental uninsured/underinsured motor vehicle coverage).
This is something you will receive notice of, in writing, from your insurance company but they will rarely bring it up. Why? Because it is not a money-maker for them, but it can be a lifesaver for you.
This coverage is available only to you, a person in your vehicle or a resident relative of your household.
It is the coverage that kicks in when you are injured due to the fault of an uninsured or underinsured driver.
If the other vehicle has no coverage, then the uninsured portion is where you receive your pain and suffering compensation. (There may be coverage under the operator but that can be discussed at another time).
If the other vehicle has too little insurance to compensate you for your injuries, then here is how it works:
- You compare your bodily injury coverage to that of the offending vehicle. If yours is higher and you get a full offer of their coverage, you move on to the next step.
- Whatever your coverage in this category is, you subtract what you have received from the other party, and you are eligible to get the remainder if your injuries warrant it. (There are some other pre-conditions so make sure you consult your personal injury attorney).
- This coverage cannot be greater than what you carry under bodily injury. In my opinion, that alone is a reason to have higher bodily injury coverage.
You cannot rely upon someone else to protect you – you must do it for yourself.
As always, I am available for a free consultation.
All information is given pursuant to the laws of the State of New York.