When it comes to protecting ourselves, our assets, and our businesses on the road, auto insurance is a vital component. However, not all drivers on the road carry adequate insurance or any insurance at all. This is where uninsured and underinsured motorists’ coverage comes into play. Let’s explore what uninsured and underinsured motorists coverage is and why it is essential for Ohio drivers.

1. Understanding Uninsured Motorist Coverage - Uninsured motorist coverage (UM) is a type of auto insurance that provides protection if you are involved in an accident caused by a driver who does not have insurance. In Ohio, it is mandatory for insurance companies to offer uninsured motorist coverage to policyholders. However, drivers have the option to reject this coverage in writing. It's important to understand that even though it is not legally required to have UM coverage, it offers valuable protection.

2. Understanding Underinsured Motorist Coverage: Underinsured motorist coverage (UIM) is similar to uninsured motorist coverage but applies when the at-fault driver carries insurance, but the coverage is not sufficient to fully compensate for your damages. If you are involved in an accident with an underinsured driver, UIM coverage helps bridge the gap between the at-fault driver's coverage limits and the actual costs of your injuries and damages.

3. Benefits of Uninsured and Underinsured Motorists Coverage:

a. Protection from Uninsured Drivers: Despite mandatory insurance laws, uninsured drivers exist. UM coverage ensures that you are not left financially burdened if you are involved in an accident with an uninsured driver. It helps cover medical expenses, lost wages, and other damages that may result from the accident.

b. Coverage for Underinsured Drivers: UIM coverage is crucial when the at-fault driver's insurance is insufficient. It helps provide additional compensation, ensuring that you receive the appropriate amount to cover your losses.  Unfortunately, the state minimums in Ohio are $25,000.  You can easily see how your medical bills could be much higher than this. 

c. Hit-and-Run Incidents: UM coverage can also come to your aid if you are involved in a hit-and-run accident where the at-fault driver cannot be identified or does not have insurance.

4. How Does UM/UIM Coverage Work? If you have uninsured or underinsured motorists coverage in Ohio, you can file a claim with your insurance company after an accident with an uninsured or underinsured driver. Your insurer will then step into the shoes of the at-fault driver's insurance company and compensate you up to the limits of your coverage.

5. Coverage Limits and Policy Considerations: When choosing UM/UIM coverage, it's crucial to review your policy limits carefully. You can select coverage limits that match or exceed your liability coverage. Understanding the terms, conditions, and limitations of your policy is essential to ensure you have adequate protection.

6. Seeking Legal Advice: If you find yourself in a situation where you need to file an uninsured or underinsured motorist claim, it may be beneficial to consult with an experienced personal injury attorney. They can help navigate the claims process and ensure you receive the compensation you deserve.

Uninsured and underinsured motorists coverage is an essential part of protecting yourself and your assets on Ohio's roads. It provides valuable financial protection if you are involved in an accident with an uninsured or underinsured driver. Review your insurance policy, consider the benefits, and make an informed decision to ensure you have adequate coverage to safeguard yourself and your loved ones on the road. Remember, seeking legal advice is always recommended when dealing with insurance claims to protect your rights and interests.

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Chad M. Stonebrook, Esq. is a Partner at Lardiere McNair & Stonebrook, Ltd. LPA.  To read more about our firm, please visit www.lmcounsel.com.

The information presented here has been prepared by Lardiere McNair for promotional and informational purposes only and should not be considered legal advice.  This information is not intended to provide, and receipt of it does not constitute, legal advice.  Nor does the receipt of this material create an attorney/client relationship.  An attorney client relationship is not established until such time as Lardiere McNair enters in to a written engagement agreement with a specific client for a specific legal matter.

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