18 Nov Underinsured Motorist Coverage in South Carolina
One often overlooked gem is underinsured motorist (“UIM”) coverage. While many drivers diligently secure liability and comprehensive coverage, the importance of protecting oneself against underinsured motorists remains underestimated.
While UIM is not required in South Carolina, it is certainly worth purchasing. Pursuant to S.C. Code Ann. Section 38-77-160, your insurance agent must make a meaningful offer of UIM coverage up to the limits of your liability coverage. Once UIM has been offered to you, you must sign a form either accepting the coverage or rejecting the coverage.
UIM coverage steps in when you are involved in a car wreck with a driver who has insufficient insurance to cover your medical bills and other damages. Drivers in South Carolina are only required to carry $25,000.00 in liability coverage, which is not a lot of money considering the rising cost of medical treatment. In such situations, where the at-fault party’s liability coverage is exhausted, your UIM coverage becomes a financial safety net.
Example:
Driver A causes a wreck with Driver B. Driver B’s medical bills are $30,000.00. If Driver A only has the minimum liability coverage of $25,000.00, Driver B can only recover $25,000.00.
If Driver B, purchased $25,000.00 in UIM coverage before the wreck, Driver B can collect the $25,000.00 from Driver A, and then make a UIM claim against his insurance policy to pursue the $25,000.00 he has in UIM.
This is the difference between a $25,000.00 recovery and possibly a $50,000.00 recovery.
Knowing you have UIM coverage provides peace of mind on the road. It’s an extra layer of protection that helps you navigate the uncertainties of driving, offering reassurance that you are not alone if an underinsured driver crosses your path.
Do you need a car wreck attorney?
Feel free to call us for a free case review. At the Hair Law Firm, we are dedicated to representing and fighting for you. Contact the Hair Law Firm today at (803) 881-3711.
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