Carrying the appropriate amount of car insurance could save an Oklahoma driver from financial devastation after an accident. Many focus on policy limits for liability and for good reason. When someone is at fault for an accident, they could be responsible for all property damage and injuries. Not everyone carries enough insurance or any coverage at all. In such cases, the injured party might need to rely on either uninsured and underinsured policy coverage.
Uninsured versus underinsured
Uninsured auto insurance allows someone injured in an accident to file a claim with their insurance provider when the liable party has no policy. Although the law may sanction someone who does not carry insurance, many people choose not to purchase the coverage. Or, their policy may lapse due to nonpayment, meaning there’s no coverage in place.
Underinsured coverage comes into play when the liable party’s maximum policy limits fall below the damages sought. Someone who only carries $50,000 in coverage would not likely have enough to cover a totaled automobile and wrongful death. Oklahoma minimum requirements are $25,000 for personal injury and property damage, a low amount.
Dealing with the insurance provider
Anyone worried about financial losses after suffering in an underinsured collision should look at their policy coverage limits. Some may put great emphasis on liability coverage but not examine personal injury protection or underinsured/uninsured motorist limits.
One other point bears mentioning. Someone may file an insurance claim even when not driving. Pedestrians and bicyclists might find their coverage helps them when hit by an underinsured driver.
Insurance companies could give a claimant difficulty when the client seeks a settlement. Low settlement offers may result in litigation. Other cases may involve outright bad faith negotiations. Ultimately, a policyholder might need to take legal action to receive what the insurance contract promised.