Underinsured Motorists Coverage vs. Uninsured Motorists Coverage
If you have been involved in a car accident and your personal injury lawyer was able to secure the liability insurance limits of the party that caused the accident you may be familiar with the term “underinsured” coverage. For those who are lucky enough to have not been in an accident please let this be an introduction to the terms underinsured and uninsured coverage which you always see on your declarations page of your car insurance. Please note, that for a comprehensive review you should always contact an experienced personal injury attorney to further discuss.
Underinsured motorists coverage (UIM) is insurance coverage you are able to purchase from your insurance carrier to cover you if you are involved in a car accident, and the person who caused the car accident does not have enough insurance to cover your damages. The amount of underinsured coverage you can purchase can be equal to or less than the amount of insurance you purchase for your liability coverage. However, if the UIM coverage is less, your insurance company has to have to request the lower limits in writing.
Uninsured motorists coverage (UM) is insurance coverage you are able to purchase from your insurance company to cover you if you are involved in a car accident, and the person who caused the car accident is uninsured. Again, the amount of uninsured coverage you can purchase can be equal to or less than the liability limits you purchased, but your insurance company must obtain a request for lower limits in writing.
In the future, we will address UM and UIM stacking. But please remember, if you or a loved one is involved in a car accident, it is in your best interest to contact a personal injury attorney, like Chad Rankin or Bill Gregory, so your rights are protected and you get what you deserve.