Is there any other reason why persons of modest means still might want higher coverage?

Minnesota personal injury attorney Mike Unger explains why having high insurance coverage is advantageous.

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Phone: (612) 339-3600


So another reason why persons of more modest means may want to have higher coverage is less about the liability coverage than it is the uninsured and underinsured motorist coverage.

Most insurers though will only offer to increase your uninsured and underinsured motorist coverage if you also have higher liability limits that match it.  So you kind of need, in order to protect yourself with higher uninsured or underinsured coverage, you kind of need to have higher liability limits as well.

The cost of having these higher coverages though is often not terrifically great.  So when you investigate that you can often find that it’s really pretty reasonable to increase your coverages.

Now you might ask, “Well what good is having higher uninsured and underinsured motorist coverage?” The thing to understand about that coverage is that while liability coverage is about your insurance company paying someone else who’s involved in an accident with you.

Uninsured and underinsured is about your insurance company paying you or your family members from their injuries from the accident.  So it’s a really important kind of coverage because medical expenses can be great.  Income loss can be great with any sort of serious injury.  You can be very quickly into a financial difficulty.

If you have higher uninsured and underinsured coverage, then you’re protecting yourself and your family from that.