Protecting Yourself Against Underinsured Motorists

PLEASE READ THIS IMPORTANT INFORMATION WHICH AFFECTS EVERYONE

SUPPLEMENTARY UNDERINSURED MOTORIST COVERAGE (SUM)

• Most people know their liability limits, i.e., 100/300, but hardly anyone knows if they have purchased underinsurance coverage. If you have a conscientious agent you may already have it. Some states make it mandatory, but not New York.
• What it is: The Supplementary Underinsurance Motorist (SUM) coverage protects the named insured and all family members living in the same household, You can purchase SUM up to your liability limits, i.e., 100/300 SUM up to $100,000.
• The effect is to raise the liability coverage to your SUM limits. You settle with the negligent driver for his limits, i.e., $25,000 and arbitrate with your own company for an additional $75,000.
• Depending on your own liability limits you could have up to $500,000 SUM coverage. Hence, if the offending motorist had $100,000 coverage you would have an additional $400,000 available; all at very low cost.
• What is Covered: It covers you and all family members residing in your household who are injured in a car accident, as a pedestrian, as a driver or as a passenger.
• Caution: If the named insured on your car is a corporation, even a family corporation, since corporations cannot suffer personal injury or have family members, no one is covered. This is so even if you paid for the SUM coverage: Buckner v. MVAIC, 66 NY2d 211. If you are in this category check with your agent to see what options are available.
• We recommend that if you do not have SUM, call your agent and add it immediately. You'll be surprised how cheap it is.

If you have any questions about this or any other issues regarding the protection of your rights, please do not hesitate to call us.

ToIl-free: 866-842-6415
Or e-mail us at info@keoghcrispi.com