It’s easy to forget all your coverages and what they entail. A lot of questions come in to Insurance Align about Uninsured / Underinsured (UM / UIM) motorist coverages. The Insurance Research Council’s recent estimates predict nearly 14% of drivers on the road do not have car insurance. Below are questions and answers to help you understand both Uninsured / Underinsured (UM / UIM) motorist coverages.
Q: Does my Uninsured / Underinsured (UM / UIM) motorist coverages cover hit and run accidents?
A: Rarely, if ever. If an accident happens and you don’t know who the other driver is, this is usually covered by the collision coverage on your auto insurance policy.
Q: Do I need to purchase Uninsured / Underinsured (UM / UIM) motorist coverages if I have good health insurance?
A: Yes. Uninsured / Underinsured (UM / UIM) motorist coverages cover things that most types of insurance don’t cover like pain and suffering and lost wages. Also, think about the deductible on your health insurance. It’s probably pretty high and you don’t want to pay a lot of out-of-pocket expenses.
Q: Do you believe that Uninsured / Underinsured (UM / UIM) motorist coverages encourage a driver to not purchase auto insurance?
A: The fact of the matter is Uninsured / Underinsured (UM / UIM) motorist coverages cover you and your passengers, not the driver at fault. Having this coverage allows you quick payments and benefits to get your life back to normal after an unexpected event. And your insurance company isn’t in the business of losing money. They will pursue the at-fault driver to recover the money in most cases.
Q: What happens if the at fault driver denies any wrong doing?
A: If the other driver denies any fault it will be noted, but rest assured that your auto insurance company will determine fault after a full investigation and you can receive your payment up to the limits of your coverage.
Q: How much money can I get from my Uninsured / Underinsured (UM / UIM) motorist coverages?
A: This is determined by your limits. Check with your auto insurance agent and go over the details with them. Most drivers have Uninsured / Underinsured (UM / UIM) motorist coverages that are close or equal to their Bodily Injury (BI) coverages. Talk with you auto insurance agent and set your level of comfort!
Q: Is it possible to make a claim on another driver’s Uninsured / Underinsured (UM / UIM) motorist coverage?
A: No. Uninsured / Underinsured (UM / UIM) motorist coverages are paid to protect you, your passengers and your property. With this coverage, you are insuring yourself from the damages of other drivers.
Q: What happens if I hit something in the middle of the road? For example, a piece of metal.
A: Only if you can prove that it came from an uninsured motorist. You need to find a driver, who has no insurance, at fault for the accident to make a claim.
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