Uninsured Motorists, Gap, and Medical Payments Coverage
Each year, countless Ohioans are involved in accidents with motorists who don’t have insurance. Perhaps you’ve been involved in one yourself.
Without the proper coverage, such a situation can be very costly. In this post, we’ll discuss why uninsured motorists, gap, and medical payments coverage are so important.
Ohio Laws on Minimum Coverage
Did you know that Ohio motorists are only legally required to maintain $25,000 worth of insurance coverage? That’s right, the state minimum in Ohio is $25,000.
Did you also know that, in Ohio, it is no longer mandatory for insurance companies to offer you uninsured/underinsured motorist coverage?
Some Ohio residents may not even realize the risks they face.
Increase in Negligent Drivers
We are beginning to see more and more negligent drivers that did not have any auto insurance. What’s worse, we’re also seeing an influx of accidents where the negligent driver flees from the scene of the collision. There are also situations in which negligent drivers do not have an adequate amount of insurance coverage to cover all of our clients’ injuries, losses, and property damage.
For these reasons, it is critical that you have uninsured / underinsured motorist coverage.
Uninsured motorist coverage covers you for injuries and damage to your vehicle that the negligent driver cannot cover because he didn’t have insurance. In the unfortunate event of an accident with an uninsured (or hit-and-run) driver, you will need to file an uninsured claim with your own insurance provider. Because medical tests, treatments, and medical procedures can be expensive, we recommend purchasing uninsured / underinsured motorist coverage with a minimum limit of $100,000.
In the event you are involved in an accident with a driver who has state minimum insurance limits of $25,000 and your injuries and damages exceed $25,000, you may be able to file an underinsured claim (assuming you have the coverage). Filing the claim with your own provider can help to compensate for damages exceeding the negligent driver’s state minimum limits of $25,000.
Talk to Your Agent
Always schedule an appointment at least once a year to talk with your insurance agent. Have your agent explain all of your coverages. If you do not have uninsured / underinsured motorist coverage, you have to request this coverage and ensure that you are covered (we recommend at least $100,000).
About Medical Payments, Gap, and Rental Coverage
It is also important that your insurance policy contains medical payments coverage, gap, and rental coverage.
Medical payments coverage is coverage for medical bills that you incur because of the accident. We recommend that you have at least $10,000 in medical payments coverage. (We generally recommend that our clients submit any medical bills relating to the accident to their health insurance first and use their medical payments coverage as a secondary source. This is important coverage because it will help pay for co-pays, deductibles, and any bills that are not being covered by your health insurance.)
Gap coverage is an extremely important coverage when your vehicle has been damaged in an accident. Many of our clients’ vehicles end up being totaled by the auto accident. If your vehicle has been totaled by the insurance company and the total loss paid does not fully cover what you owe on your vehicle, gap coverage will pay and cover you.
Rental coverage will pay for the cost of a rental car while your vehicle is being repaired. It is important that you have this coverage, as many negligent drivers don’t have this coverage.
Our firm is here to help you with any insurance or auto injury questions you may have. Reach out today and ask us a question.