You flat out need uninsured/underinsured motorist (UM) coverage in our state. It is relatively inexpensive, and when you need it, this insurance is worth its weight in gold. Uninsured motorist coverage is insurance you carry because the other guy probably does have enough (or perhaps any) insurance to cover your medical bills, property damage, and other losses. Here are six key things you should know about UM in Arkansas:
Though Arkansas law requires all drivers to have car insurance, many people don’t. In fact, the state estimates 17% of your fellow drivers have no coverage. So, your chances of being hit by someone who cannot turn to insurance for the money to cover your medical bills, etc., is about 1 in 6. Think of it like this. The next time you go down the highway, look at the 2 cars in front of you, the 1 car to your side, and the 2 others in the back. One of the 6 of you is driving without the ability to pay for an accident. Our state has more than 60,000 crashes a year. So roughly 10,000 accidents are dealing with someone without insurance.
No law requires you to have uninsured motorist coverage in Arkansas. And if you want the least expensive monthly insurance payments, it seems the first thing to go is uninsured motorist coverage. It shouldn’t. Here is what some insurance agents won’t tell you. This type of insurance is remarkably cheap. The reason – if the other driver has insurance and is to blame, your insurance company does not have to pay out.
Arkansas law requires car insurance companies to offer uninsured motorist coverage. You can decline it, but you must do that in writing. I have made those insurance companies show me that signed form. Often, they can’t. If not, then I say you are entitled to at least the minimum coverage.
Remember, uninsured motorist coverage is insurance you carry to protect you. If your insurance company refuses to pay, you might have to take your own insurance company to court. This can be awkward for some clients. But remember, you are not dealing with the friendly agent who sold you the policy but rather a big multimillion-dollar company that wants to pay you as little as possible.
It is not uncommon for an insurance company to say your accident is not covered. Read the denial letter carefully and follow what it says. By law, you have the right to dispute their decision. If your injuries or losses are substantial, I strongly suggest you do this with a lawyer. You really do not want to go against those folk alone.
Arkansas understands that people without insurance are often the most likely to be hit-and-run drivers. You do not have to find the person who hit you. This is true both to get your vehicle fixed and your medical bills paid.
Uninsured and underinsured motorist claims can be complex and require specific knowledge of the laws in Arkansas. At Horton Law, we provide personalized legal representation and are committed to helping injured individuals. Contact us today for a free consultation.
If you have any questions, we’ll help you find answers. Let our experience protect your rights to the full and fair compensation you deserve. Call Horton Law for a Free Legal Consultation at 888-541-4951 or fill out a Free Consultation Form.
