How did this happen? A driver pulled out in front of you with his car, and now not only is your body all busted up, but you find yourself considering bankruptcy.
It was all the other guy's fault, but he only has the state minimum $20,000 of liability insurance. Most bikers tell me they have “full coverage”. Usually, the coverage turns out to be anything but “full.”
Who can afford to miss a paycheck, much less a year of paychecks? What's worse, the medical bills are huge. Creditors are breathing down your neck, and the walls are closing in.
This financial disaster could be you, unless you take steps to protect yourself and your family. The way to do it is uninsured (UM) and underinsured (UIM) motorist coverage.
The guy that hit you is responsible, but most drivers don’t have enough liability insurance - some have none at all. That means you better take care of yourself and your family by making sure you have plenty of UM and UIM coverage.
If you don’t have enough UM/UIM insurance in a situation like this, it’s time to file bankruptcy, and say ‘goodbye’ to so many things you’ve worked hard for all your life. There is no correct answer to the ‘how much is enough’ question, but I’ve seen far too many situations in which $100,000 of UM/UIM coverage wasn’t nearly enough.
The difference in cost to have $250,000 in UM/UIM is minimal. It may be the difference between bankruptcy and being able to weather the financial storm after a serious motorcycle crash. You can gain even more protection by buying an “umbrella” insurance policy that covers your UM/UIM.
You may not be able to avoid the crash, but you can keep it from driving you into bankruptcy. Ask your insurance agent how much it would cost to buy more UM/UIM coverage, and umbrella coverage. My bet is that you’ll be shocked at the low cost of protecting you and your family.
