While having auto insurance is required by law, too many drivers do not carry insurance at all or carry only the minimum amount required by law which is $25,000. In Colorado, 15% of drivers are uninsured according to a study conducted by the Insurance Research Council (IRC). And as you can imagine, if you have serious injuries due to a car accident, $25,000 does not go very far at all. Additionally, Insurance policies in Colorado before January of 2008 allowed the insurance company to take an offset for any amounts an injured person received from an underinsured driver. The law was changed in 2008 to eliminate this loophole for the insurance companies, however, everyone should make sure that their insurance policies have been renewed since January 1, 2008, or the law may not apply to them.
All insurance policies issued or renewed after this date prevent loopholes from being used which could limit the amount of money one can collect from an underinsured motorist. It is also important to know what damages an injured driver can receive in the event of an accident involving an uninsured or an underinsured motorist. You can receive compensation for:
- Wages lost as a result of being unable to work
- Medical bills
- Loss of future wages
- Pain and suffering
- Permanent injury
Please note that depending on your insurance policy, vehicle damage may or may not be covered when the damage is caused by someone without automotive insurance. Check your policy to make sure that it covers property damage to your car in the event of an accident with an uninsured motorist. This will allow you to collect money for the value of your car or money to help pay for repairs.
When involved in any sort of car accident, it is important to discuss your case with an experienced attorney. This is especially true in more complicated matters such as an accident where the other driver wasnt insured or was underinsured.
If an uninsured or underinsured motorist has injured you or a loved one, contact the Colorado Springs injury attorneys at Jaray & Webster at (719) 633-6620 immediately to schedule a free consultation.