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One little trick for $100,000 or more!
Are You Making a Six-Figure Mistake With Your Auto Insurance?
Most Maryland drivers don’t realize their current insurance setup could cost them $100,000 or more if they’re in a serious accident. In this episode, Jobeth Bowers breaks down the enhanced underinsured motorist coverage—a little-known but critical part of your auto insurance policy. This coverage could mean the difference between being properly compensated or walking away with nothing after a crash.
What Is Enhanced Underinsured Motorist Coverage?
Enhanced underinsured motorist coverage (also labeled “enhanced UM/UIM” on your policy) ensures that your policy protects you, even if the other driver has minimal coverage. For example, if the at-fault driver has $30,000 in coverage and you have a regular (non-enhanced) $30,000 UM/UIM policy, you may receive nothing extra. That’s because traditional policies offset each other. With enhanced coverage, you could get your full $100,000 (or more) on top of the $30,000 from the other driver’s insurer.
Why Most Drivers Don’t Have It
Unfortunately, Maryland insurers aren’t required to offer enhanced coverage unless you’re starting a new policy or modifying an existing one. That means unless you ask for it, you probably don’t have it. Even more concerning, people buying insurance online—without help from a licensed agent—are most likely to miss out on this vital option. Joe recommends calling your agent now to ask, “Do I have enhanced underinsured motorist coverage?”
How Much Does Enhanced Coverage Cost?
Despite its massive potential benefit, enhanced coverage is surprisingly affordable. Adding it to your policy may only cost $30 to $40 per year. For the cost of one dinner out, you could avoid a devastating shortfall in compensation if you’re injured in a serious crash caused by someone with low limits. Bowers emphasizes that the value far outweighs the cost and urges drivers not to wait until it’s too late.
One Little Trick for $100,000 or More!
If you want to avoid a painful insurance shortfall after a crash, now is the time to act. Check your policy. If it doesn’t say “enhanced” next to your underinsured motorist coverage, call your insurance agent today and ask about adding it. This small step could be the difference between walking away with tens of thousands—or walking away with medical debt.
The post One little trick for $100,000 or more! first appeared on Bowers Law.
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By JoBeth BowersAre You Making a Six-Figure Mistake With Your Auto Insurance?
Most Maryland drivers don’t realize their current insurance setup could cost them $100,000 or more if they’re in a serious accident. In this episode, Jobeth Bowers breaks down the enhanced underinsured motorist coverage—a little-known but critical part of your auto insurance policy. This coverage could mean the difference between being properly compensated or walking away with nothing after a crash.
What Is Enhanced Underinsured Motorist Coverage?
Enhanced underinsured motorist coverage (also labeled “enhanced UM/UIM” on your policy) ensures that your policy protects you, even if the other driver has minimal coverage. For example, if the at-fault driver has $30,000 in coverage and you have a regular (non-enhanced) $30,000 UM/UIM policy, you may receive nothing extra. That’s because traditional policies offset each other. With enhanced coverage, you could get your full $100,000 (or more) on top of the $30,000 from the other driver’s insurer.
Why Most Drivers Don’t Have It
Unfortunately, Maryland insurers aren’t required to offer enhanced coverage unless you’re starting a new policy or modifying an existing one. That means unless you ask for it, you probably don’t have it. Even more concerning, people buying insurance online—without help from a licensed agent—are most likely to miss out on this vital option. Joe recommends calling your agent now to ask, “Do I have enhanced underinsured motorist coverage?”
How Much Does Enhanced Coverage Cost?
Despite its massive potential benefit, enhanced coverage is surprisingly affordable. Adding it to your policy may only cost $30 to $40 per year. For the cost of one dinner out, you could avoid a devastating shortfall in compensation if you’re injured in a serious crash caused by someone with low limits. Bowers emphasizes that the value far outweighs the cost and urges drivers not to wait until it’s too late.
One Little Trick for $100,000 or More!
If you want to avoid a painful insurance shortfall after a crash, now is the time to act. Check your policy. If it doesn’t say “enhanced” next to your underinsured motorist coverage, call your insurance agent today and ask about adding it. This small step could be the difference between walking away with tens of thousands—or walking away with medical debt.
The post One little trick for $100,000 or more! first appeared on Bowers Law.