I’ve been told by multiple sources that, for example, in the Town of Framingham, around 20% of drivers are either without a license or insurance. Even if the party who struck you has insurance, more often than not they are carrying the minimum insurance required; $20,000 per person, $40,000 per accident.
If you suffer a serious injury, the above figures should put you on notice that you most likely will not be protected against your full loss of medical bills, lost wages, rental cars, etc… and pain and suffering.
There are two ways that you can protect yourself. First, buy much higher underinsurance through your insurance agent before any accident. Secondly, hire a lawyer who can determine if the other operator has any assets other than a car. If you and/or your lawyer learn that the other operator owns real estate, has a job, has a bank account, etc…there are legal devices whereby you and your lawyer may obtain a lien or other security against the operator prior to trial, so that if you win a settlement or trial, there will be funds available to compensate you. These security devices are contingent upon preliminary proof that the other operator was substantially at fault and that your injuries will most likely exceed any existing insurance.
Finally, as soon as possible, notify your insurance company in writing that you were in an accident and have your attorney send that company a demand for the full amount of the underinsurance policy.
If you have any questions, please call me at 508-243-4877. Doug Stoddart.