The Number of Uninsured Drivers in Philadelphia Soars As Does the Cost of Car Insurance
If you live in Philadelphia, which is being crippled by the recession, your auto insurance costs approximately 3 to 4 times what it would cost other cities. Philadelphians traditionally have paid more for insurance than their counterparts in Baltimore, Chicago, and Cleveland despite much higher theft rates in those other cities. So, why is insurance in Philadelphia much higher? The answer is simple. Many Philadelphians have few assets and no insurance and therefore, people involved in car accidents with an uninsured motorist have to collect from their own insurance company through their uninsured or underinsured motorist policy. The theory is that uninsured motorists and drivers cause premiums to be higher and when premiums are higher more people opt out against buying car insurance thereby creating a vicious circle.
At the Philadelphia car accident law firm of Reiff and Bily, we are seeing more and more uninsured motorist cases coupled with bankrupt defendants who have no assets. Unfortunately, state regulatory agencies and law enforcement officials are not doing a great job enforcing mandatory insurance laws. Simply enacting a mandatory insurance law, which a majority of the states have already done, is not the same as enforcing a mandatory insurance law. Now more than ever, it is important to completely review your automobile insurance policy to make sure that you are properly covered as chance favors the prepared mind.
The experienced Philadelphia hit and run and uninsured car accident lawyers at Reiff and Bily offer a free no obligation consultation to review your policy and have represented thousands of uninsured and underinsured motorists since 1979.
