- No comments
You get into an accident. You have plenty of coverage even though it isn’t your fault. But the other guy has the minimum limits or worse, no insurance at all. What do you do now? If you are fully protected, you have uninsured/underinsured motorist coverage. So what does that mean?
As posted by www.insurance.com, uninsured or underinsured motorist coverage can pay for injuries to you and your passengers, and in some locations damage to your property, when there is an accident and the other driver is both legally responsible for the accident and considered “uninsured” or “underinsured.”
An uninsured driver is someone who did not have any insurance, had insurance that did not meet state-mandated minimum liability requirements, or whose insurance company denied their claim or was not financially able to pay it. A hit-and-run driver also counts as uninsured as it relates to bodily injury (UMBI).
An underinsured driver is someone who met minimum legal financial responsibility requirements, but did not have payment limits high enough to cover the damage they caused. In these cases, UM or UIM can pay you for your damages. It is important to note that uninsured and underinsured motorist protections are separate, although in many states they can or must be purchased together.
As always, it is best to talk over your coverages with your insurance professional to make sure you are protected as fully as possible.