Many people that purchase umbrella insurance policies do so to protect themselves in the event their insurance is not enough. Unfortunately, in the case of an accident caused by an uninsured or underinsured motorist, your umbrella policy may be no good. In fact, compensation of any kind may weigh heavily on your other coverage or your decision to hire an attorney.
If you were injured in an auto accident by an individual that has little to no insurance, you may face many challenges when seeking compensation. You may think that your umbrella policy, in combination with your uninsured/underinsured motorist coverage, will be enough. However, generally speaking, umbrella policies do not cover these claims, leaving you vulnerable to financial hardship.
Umbrella policies are designed to cover bodily injury and property damage that the policy owner causes. In the event an underinsured or uninsured driver causes an accident but does not have the ability to pay for the damage they've caused or compensate the injured, the other driver may only be able to receive compensation through their own uninsured/underinsured coverage.
Unfortunately, injuries and property damage caused by an uninsured motorist is a very significant problem. Each year, many uninsured drivers cause accidents, injuries and damage to good people and families. Fortunately for the injured, there are attorneys that can help. Regardless of insurance coverage, injured individuals may be able to receive compensation from the responsible party's limited insurance or through their own insurance policy.
By working with an experienced legal professional, individuals that have been injured by an uninsured or underinsured motorist can receive the compensation they need to provide for their family while they recover. While your umbrella policy may be of no use, a lawyer can work with your insurance company to see that your other insurance coverage is.