For the last year now, Maryland drivers have had a great insurance option that protects them and their families after a serious car accident, especially when you are seriously injured and have medical bills, hospital and surgery bills, are facing a long rehab and are losing money because you can't work.
It's called Enhanced Underinsured Motorist Coverage and here's how it works:
It applies when an at fault driver (the bastard who hit you) has either no insurance or less insurance coverage than you have - that's typical of Uninsured/Underinsured Motorist Coverage everywhere. It is coverage you buy to protect you and your family in case you get hit by a driver who has no insurance or very little (remember, the legal limits for insurance in DC and Maryland are $25,000 and $30,000 - that's not much if you are in the hospital, need a surgery or ongoing medical treatment for the injuries caused by the accident).
If you've been in a serious accident, you have to investigate and determine all of the available insurance coverage for the accident - everything available to pay for the harms and losses you now have - medical bills, therapy, lost income because you can't work, pain, permanent injury, future medical treatment you will need, etc.
So you have to review all of the insurance and any factors that could lead to additional insurance coverage. Here are some quick examples of what you should find out:
Was the driver who hit you at work or on the job at the time?
Did he work for a private company or local or federal government?
Is he the owner or officer of a company?
Where you working at the time? Or doing anything connected to your work?
Does your company (or someone else) own the car or truck you were in?
Do you have UM/UIM insurance coverage? What are the policy limits and how much do you have?
Here's what the typical Uninsured or Underinsured Motorist analysis looks like:
You get it a serious accident on the Beltway in Prince George's County caused by another driver and determine he was legally at fault (he caused the accident). You are in the hospital, need surgery and then will have another year of follow up care, rehab and therapy. You'll be out of work for 6 months and you earn $100,000 per year with overtime and bonuses.
Let's say your medical treatment will be about $60,000 and your lost income $50,000.
The driver who caused the accident has a minimum insurance policy of $30,000. You have Uninsured/Underinsured Motorist Coverage of $100,000 through your own policy.
The way it works is now your insurance company will step in and pay the amount over the $30,000, but only up to your policy limit of $100,000. So you'd get $30,000 from the insurance company of the guy who caused the accident, and another $70,000 from your own insurance company, for a total of $100,000.
Which, by the way, may not be enough to address the harms and losses you have - that's why we recommend high limits for Uninsured/Underinsured Motorist coverage - talk to your insurance company about this. It's not expensive and can help make up for some of the losses you have from the accident.
Here's where the Enhanced part comes in for Maryland residents -
The Enhanced Underinsured Motorist coverage is not reduced by the insurance coverage of the at fault driver. So in the example above, you would receive $130,000. The EUIM as it's sometimes called, is in addition to or "stacked" on top of the insurance policy for the driver who caused the accident.
That's a great option for Maryland residents and a way for them to protect themselves and their families if they are seriously injured in a car accident.
Need more info on car accident cases in the DMV? Call us today at 202-393-3320 or order one of our free books, guides or reports!