Many people think about liability coverage and comprehensive and collision insurance when they purchase car insurance policy. While these are the main types of coverage, another part of your policy that you should pay attention to is the uninsured and underinsured motorist coverage.
What Is Uninsured Motorist Coverage?
You may wonder how there can be uninsured motorist policies if the state laws require every driver to have coverage. Sometimes, policies lapse and drivers continue to operate motor vehicles without realizing they no longer have insurance coverage.
While the other person is technically liable if they’re at fault, it doesn’t help you if they have no money to pay. If they can’t afford a few hundred dollars for insurance each month, they probably can’t afford to pay several thousands of dollars for medical care or damage to your vehicle. That’s where uninsured motorist coverage comes in. It pays to repair your vehicle and for your medical expenses if someone else is at fault and they don’t pay. This coverage kicks in if you’re hit by a driver who leaves the scene without providing insurance or contact information.
What Is Underinsured Motorist Coverage? (UIM)
Underinsured motorist coverage is similar to uninsured, except that the person has some insurance but not enough. They may have the minimum coverage required by state law, but the accident was severe, and the expenses were more than the coverage limits. Underinsured Motorists Coverage provides benefits and fills in the gap if available coverage exceeds the at fault driver’s limits and the coverage of your UIM covers you if you have selected it as part of your own insurance coverage.
Getting the Right Coverage
Some states require you to have uninsured or underinsured motorist coverage. Many insurance providers bundle the two together. This insurance breaks down into two categories: insurance to pay for bodily injury and insurance to pay for property damage. Bodily injury coverage includes lost wages if you’re unable to work for a period of time as well as the cost of medical care, such as hospital and doctor bills.
Property damage coverage includes repairing your vehicle if you’re hit by another driver. It also includes damage to other property, such as a building, fence, or other obstacles. Underinsured and uninsured motorist coverage becomes even more critical if multiple vehicles are involved. The person at fault must pay for all damages to each vehicle, which could leave you with a lot of bills to pay if their insurance runs out.
If you’ve been the victim of an accident by an uninsured motorist, you can seek legal help. Contact attorneys at Blake Jones Law Firm LLC if you live in