Roderick C. Lopez | November 23, 2024 | Texas Law
Uninsured motorist (UM) coverage is an important part of many auto insurance policies. It can compensate for out-of-pocket expenses after an accident if the at-fault driver does not have insurance coverage. However, you should understand the advantages and potential drawbacks to decide whether it fits your needs.
Mandatory Auto Insurance Limits in Texas
Drivers in Texas must have a certain amount of liability insurance to operate their vehicles. The mandatory minimums for auto insurance are:
- $30,000 for bodily injury per person
- $60,000 for bodily injury per accident
- $25,000 for property damage per accident
These minimums are commonly called “30/60/25,” but they may not cover all expenses in a serious accident. This can leave gaps for medical bills, lost wages, and other damages, but uninsured motorist coverage can help fill that gap. Insurance companies must offer Texas drivers UM coverage when they purchase a policy, although they can opt out in writing.
The Pros of Uninsured Motorist Coverage
Texas is an at-fault state, meaning that if you are injured in an auto accident, to seek compensation, you must file a claim with the at-fault driver’s insurance company or file a lawsuit. UM coverage provides financial protection when an at-fault driver lacks insurance or has insufficient coverage. This is a major concern since, as of May 2023, more than 2.6 million vehicles registered in Texas have not been matched to an insurance policy.
Uninsured motorist coverage offers several benefits. These include:
Financial Security
UM coverage may protect you from bearing the burden of medical bills, lost wages, vehicle repairs, and other damages after an accident involving an uninsured or underinsured at-fault driver. You may otherwise need to rely on personal savings or debt to cover these costs.
Coverage for Underinsured Drivers
Many drivers in Texas only meet the state’s minimum liability requirements. This may not cover your total damages in a serious accident. UM coverage can cover the difference between the at-fault driver’s coverage and your losses.
Coverage for Hit-and-Run Accidents
UM coverage can compensate you for medical expenses, lost wages, and other damages after a hit-and-run accident, even if the responsible party cannot be identified.
Affordable Coverage
UM coverage is typically an affordable addition to your auto insurance policy. It is automatically included in Texas unless you opt out in writing.
Peace of Mind
UM coverage provides security every time you drive. You know you are covered, regardless of another driver’s insurance status.
These advantages make uninsured motorist coverage a reliable option for protecting yourself while driving. If you or a loved one have been involved in an auto accident, a Laredo car accident lawyer can help you pursue a potential claim using uninsured or underinsured motorist coverage.
The Cons of Uninsured Motorist Coverage
Uninsured motorist coverage has many benefits, but it is not without its drawbacks. Some of the potential disadvantages include:
Additional Cost
UM coverage is generally affordable but still adds to your overall insurance premium. This cost may seem burdensome for drivers on tight budgets.
Potential Coverage Limits
UM coverage might not fully compensate you for extensive damages or serious injuries, leaving you with out-of-pocket expenses. This is because it will only pay up to the coverage limits on your policy.
Overlap with Health Insurance
UM coverage may duplicate other benefits you have, such as medical expense coverage offered by health insurance.
These drawbacks are worth considering, but many are outweighed by the potential financial risks of being involved in an accident with an uninsured or underinsured driver.
Contact the Laredo Car Accident Attorneys at Roderick C. Lopez Personal Injury Lawyers. Call Us at (956) 529-7336
If you were injured in an accident in Laredo, TX, and need legal help, contact our Laredo car accident lawyers at Roderick C. Lopez Personal Injury Lawyers to schedule a free case review today.
We are located in Laredo, TX, proudly serving Webb County and surrounding areas. We are located in Laredo, Texas.
Roderick C. Lopez Personal Injury Lawyers
6557 Metro Court, Suite 1 Laredo, TX 78041
(956) 529-7336
