You may have heard the term SUM Insurance. SUM insurance technically stands for supplementary uninsured motorist protection and SUM insurance is a viable tool to protect you the driver or passenger in a motor-vehicle when another party is at fault who has limited insurance.
New York State requires every vehicle on the road to have insurance but that New York state limit is only 25000 dollars per person and 50000 dollars per accident. So if three people are seriously hurt in a moto-vehicle accident and they’re all in there trying to divide up 50000 dollars which is not suitable for serious injuries, fractures, surgery, the like. SUM insurance protects you by allowing you to turn to your own company after sewing a party who has minimum coverage and making a claim for extra coverage to your own company.
It is something that I recommend to every client I come to contact with whether or not I’m dealing with them on a motor vehicle accident or not.
Check out our Motor Vehicle Injury Education Series for free!