The Rate of Uninsured Motorists Is Increasing At An Alarming Rate In Philadelphia and Pennsylvania
With the recent and growing economic downturn, many Americans, particularly those in Philadelphia and in the Commonwealth of Pennsylvania, have taken steps to reduce expenditures and it appears that one of the first areas being cut is automobile insurance. I find that many people have increased their insurance deductibles as well as selected lower coverage points and many motorists have opted not to purchase uninsured or underinsured motorist coverage often resulting in disastrous consequences for otherwise innocent and unsuspecting victims.
I had a situation with a client yesterday who sustained catastrophic injuries with the proper estimation of her case valued in excess of $1 million dollars. Unfortunately, the wrongdoer had minimal assets and our client had erroneously selected not to purchase uninsured/underinsured motorist coverage which would have paid her the full value of her claim in the appropriate forum. Obviously, this client was unhappy with her insurance agent and her attorney and could not believe that she was in this situation due to her own choice. Unfortunately, we find ourselves dealing with this scenario with increasing frequency.
A recent study has revealed that at least 16% of those with one vehicle households reported canceling or not renewing coverage for a vehicle in response to the economic downturn. Additionally, almost one third of those canceling automobile insurance coverage also reported selling their vehicles as a way to save money and an additional 14% of renters declined insurance coverage.
This experienced uninsured/underinsured motorist car accident lawyer believes that the increased percentage of uninsured and underinsured motorists in Pennsylvania is growing at a epidemic rate as is the rate of hit and run accidents. Pennsylvania does not require uninsured or underinsured motorist protection, even though all Pennsylvania drivers are required by law to only have mandatory minimal insurance coverage which is typically $15,000. The number of uninsured and underinsured vehicles on the road results in higher insurance premiums for those who maintain the proper coverage.
At the Philadelphia car accident law firm of Reiff & Bily, we are committed to offering a free insurance check-up to review your automobile insurance policies with you to make sure that you are properly protected in the current economic environment. “Chance favors the prepared mind”. The Philadelphia uninsured and underinsured car accident lawyers at the law firm of Reiff & Bily specialize in representing drivers, pedestrians, passengers and victims of hit and run accidents who have suffered injuries resulting from a car accident with uninsured and underinsured drivers.
If you have been injured as a result of a car accident, please contact us for a free evaluation of your case at 1-800-421-9595 or online at www.reiffandbily.com.
