Should I Buy Additional Car Insurance?
The State of South Carolina requires you to buy liability insurance. What you are buying is protection against lawsuits aimed at you if you caused a wreck and injuries to other. The more your net worth, the more insurance you should get. The minimum amount of protections for others required by law is $25,000.00.
So what if the person that hits you only has $25,000.00 in coverage and your damages, your bills and lost wages exceed that?
Well, when you bought your car insurance, the agent or company made you an offer of Underinsured motorist coverage (UIM). Buying this insurance protects you by establishing insurance coverage in addition to or as a supplement to insurance coverage for you in your claim against the at fault driver.
Most people driving in SC have $25,000.00 in liability coverage so you may not be able to pay all the bills resulting from the wreck. However, if you have UIM coverage you then have created additional coverage available to you in which you can make a claim. So, if you have $25,000.00 UIM coverage you have additional coverage of $25,000.00 for a total of $50,000.00 from which you could make a claim.
Once you realize the benefits you gain from having UIM Coverage and the modest nominal increase in your premiums – you will buy it. Do not miss the opportunity to protect yourself and your family.
The bottom line is – YOU ARE WORTH IT and you should have underinsured coverage on every single vehicle that you own in an amount equal to the liability coverage.