In New York State, you are only required to have $25,000 of insurance in the event that you injure another person in a motor vehicle accident. If the injuries are at all serious, this would not be enough coverage and you could face financial ruin. Therefore, we suggest that our clients have coverage of at least $250,000 or more.
However, what if you are the one who is badly hurt by another driver and he or she has minimum insurance? You can protect yourself with a rider on your policy known as Supplemental Underinsured Motorist coverage. Thus, if you have $250,000 to protect someone that you might injure, you can have the same amount of protection if you are the one who is hurt. You’ll be surprised how inexpensive the premium is, and how much better you’ll feel.
At Trevett, Cristo, we advise our clients about how they can help themselves before trouble happens, not just after.