How to increase your chances of getting more money from your car accident? Don’t let uninsured motorists ruin your financial life.

Auto insurance premiums for 2024 have increased by 26% according to a new Bankrate report. Auto insurance rates have been rising at breakneck pace and may not come down. This means car insurance will become less affordable for North Carolinian and some will go without. This is what you should do to protect yourself from financial ruin and potentially increase your recovery money, if you’re hit by an uninsured motorist in North Carolina.

The first step is to review your car insurance coverage. This is contained in your binder or policy declarations. Make sure you take a look at these three important coverage.

1. Protection Against Uninsured Drivers: Uninsured motorist coverage provides protection if you’re involved in an accident with a driver who doesn’t have insurance. Without this coverage, you might be left paying out of pocket for damages and medical expenses.
   1. Coverage for Hit-and-Run Accidents: If you’re involved in a hit-and-run accident where the at-fault driver cannot be identified or doesn’t have insurance, uninsured motorist coverage can provide compensation for your injuries and damages.
2. Protection Against Under-insured Drivers: Even if a driver has insurance, their coverage might not be enough to fully compensate you for your losses in the event of a serious accident. Under-insured motorist coverage helps bridge this gap by covering expenses that exceed the other driver’s policy limits.
3. Medpay: In North Carolina, MedPay, short for Medical Payments Coverage, is an optional auto insurance coverage that helps pay for medical expenses resulting from a car accident, regardless of who is at fault. MedPay can help cover medical costs that exceed the limits of your health insurance policy, as well as expenses like deductibles and co-payments. MedPay provides coverage regardless of fault, which can be beneficial in situations where fault is disputed or when the at-fault driver is uninsured or under-insured.

Overall, while increasing your uninsured and under-insured motorist coverage may lead to slightly higher premiums, the added protection and peace of mind are often well worth the investment, especially considering the potential financial consequences of being involved in an accident with an uninsured or under-insured driver. These coverage can also significantly increase the amount of money you may collect as a result of your car accident in North Carolina.