A prospective client called me a few days ago. He had been in a bad auto accident and was injured. Unfortunately, he had been in the process of shopping for a cheaper auto policy and his old policy had lapsed (because he didn't want to pay for two policies at once) and a day (a single DAY) of his life, he had no auto insurance because his new carrier told him if he waited one day, there was some type of promotional rate. So he decided to take a single day off from paying his premium, and lo and behold, he was hit by another car THAT WAS UNINSURED! This is a more and more common event with the economy in the can and the prices on auto insurance constantly rising, rising, rising, especially in the City.
He has no insurance to cover the damage to his car which is a 2012 model AND cannot pursue a claim for pain and suffering. If his own insurance had not lapsed, he could have done this even though the other car's driver had no insurance because he had the common sense (and good advice of his agent) to select FULL TORT AND UNINSURED MOTORIST coverage. However, none of that did him any good because he had the accident on the ONLY day he had ever NOT been insured. Lesson: do not cancel your old auto insurance until you have WRITTEN confirmation that your new policy is in full force and effect.
Reminder: always have FULL tort and Uninsured as well as underinsured motorist coverage. Yes, you are protecting yourself from the irresponsible people who have little or no insurance. Think about this-most of the cases in which the defendant or at-fault driver is dui, that driver has little or no insurance. Even though the police are cracking down on DUI, I see DUI- caused accidents in my office about once per week. Don't skimp on your auto insurance coverages. Go ahead and price around, but make sure your old policy does not lapse before your new one begins!
For more information on visit the Worthington Law Group website.