For what seems like forever (to me anyway), I have been blogging on a recent change in Georgia that effects Uninsured Motorist insurance coverage. No matter whether you live in Atlanta or elsewhere in the State of Georgia, you need to be aware of this change.
The simplest way of explaining the change is to give an example. If you read my last blog post you saw that I gave an example of how all UM coverage used to work. How will it be different under the new law?
Well if you carry "stackable" UM coverage (the "stackable" bit is what is new - the new law allows you to buy UM that "stacks" on top of the at-fault driver's liability coverage) the example I gave last time would change like this:
I am still assuming $100,000.00 in medical bills.
At-fault driver = $50,000.00 Liability
Injured driver = $50,000.00 "stackable" UM
Payment Due from UM coverage = $50,000.00 plus (not minus) $50,000.00 = $100,000.00
Do you see how having "stackable" UM coverage changes everything? You go from a situation where you are half-compensated for your medical bills to a situation where all your medical bills get paid.
If you were paying close attention while reading my previous post you will remember I said this entry would be my last on this topic. Well . . . I have changed my mind. Next Monday I will post again on this issue and that, I think, will be the true end.
