What is the best way to get underinsured motorist coverage?

A car accident happened yesterday to your best friend. He was heading to his weekly yoga class, and was expecting a peaceful morning. But then, he was hit by another driver without warning. The worst part? The worst part? Your friend lost his car and the at-fault driver had only the minimum liability coverage. Then you start to wonder: What if this happened to me? Is it necessary to have underinsured motorist coverage? You can only answer this question for yourself. However, it is important that you protect yourself against uninsured or underinsured motorists.

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This information will assist you in making that decision. You will find information about the various types of UIM coverage. This includes limitations and where you can go for specific legal questions.

Let’s talk about basic uninsured motorist coverage

UIM insurance does not provide uninsured motorist coverage. It is a portion of that coverage. Uninsured coverage applies when there is an accident with another driver. Underinsured motorist coverage covers situations in which the at-fault driver does not have enough insurance to cover your damages. Ask about the policy type and the various levels when you’re pricing your car insurance coverage. Why? UIM is part a larger, three-part insurance type called “uninsured driver” (UM). In many states, UM coverage consists:

  • Underinsured Motorist Insurance (UIM).
  • Uninsured Motorist Insurance (UMI).
  • Uninsured Motorist Property Loss insurance (UMPD).

UIM, UMI and UMPD coverage are not mandatory in every state. Basic minimum liability coverage is required. To learn more, make sure you check your state’s insurance laws.

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UIM Coverage Definition

When you are involved in a car accident, and the other driver is at fault, Underinsured Motorist coverage (UIM), becomes a valuable tool. The at-fault driver may have car insurance but the policy limits won’t cover all your expenses. While you can sue the driver for the balance of your expenses in a personal injury case, if they don’t have assets to support their damages award, and assuming you win, you won’t get any money. UIM coverage helps to prevent this shortfall by paying you compensation for the difference, up to your policy limits. Important note: This only applies if the coverage for an underinsured driver is more than the policy limits of the negligent driver.

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UMI Coverage Definition

UMI insurance covers you against damage from other drivers without car insurance. We are referring to medical expenses, lost wages, pain and suffering damages.

Definition of UMPD Coverage

This coverage covers property that is damaged by an accident with an uninsured driver. This covers your vehicle’s repairs as well as personal property. This also applies to drivers who are underinsured.

Do I need UIM?

We can’t give you advice on what coverage is best, but we strongly recommend that you consider UIM coverage if you live or work in a state with a high number of uninsured drivers. Even if at-fault drivers have the minimum liability coverage, this may not be sufficient to cover all your expenses. Do not be responsible for damages and injuries that aren’t your fault.

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Are you confused about the Underinsured Motorist Insurance?

Do you still have questions about the coverage for underinsured motorists? Don’t worry. Talk to a personal injury lawyer who specializes in motor vehicle accidents if you have any questions.

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