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What Is Uninsured Motorist Insurance?
2023/08/08 21:41

Uninsured motorist insurance, often abbreviated as UM/UIM, is a special coverage you get when you finance your car or truck. It will cover you the next time an uninsured driver hits your vehicle and causes damage.

Uninsured motorist insurance is a type of personal auto insurance coverage. Suppose a motorist who has not been in an accident is involved in an accident with another motorist who does not have or who has insufficient auto insurance. In that case, the driver could suffer significant financial loss. This can happen even if the driver was not at fault for the accident.

That means that if you're in a wreck and the other drivers are at fault for causing the crash but don't have auto insurance, say their auto insurance company denied their claim because of too many claims under their policy. Their fault will not matter because you'll have UM/UIM as long as it is included in your car insurance policy.

If you have UM/UIM, your insurance company will likely pay for your damages and injuries in one of two ways. Your company can pay a lump sum for your car's value or its actual cash value (ACV). ACV is when your insurance company pays out the policy's actual value of your car based on its current condition. A car's actual cash value will be less than its market value but more than its salvage value.

For example, if a driver hits your car and totals it, your UM/UIM insurer would pay out the policy's ACV for your vehicle. But if the driver totaled your car but has a good net worth, then your insurance company would pay out the policy's market value.

If you were involved in an accident with an uninsured driver and you or a loved one was injured, you should consult an uninsured motorist accident attorney. If the driver of the other vehicle had insurance different from yours, they don't have to pay your medical bills or compensate for your lost wages. But if you can prove that the other driver was negligent, they will be liable for damages like these.

Some states allow you to recover damages from an uninsured driver, but only if the accident was reported to the police. Other states require that the other driver be involved in some kind of criminal activity before you can sue. Still, others won't allow you to sue even if your accident involved a hit-and-run driver. You should contact an uninsured motorist attorney as soon as possible so they can help you understand your state's laws and how they apply to your situation.

To prove that an uninsured driver was negligent, you need to show two things: that the driver had a duty of care toward you and violated it. Negligence is determined on a case-by-case basis, meaning you can't simply sue every uninsured driver who hits your vehicle. You must consult an uninsured rideshare accident attorney to help you make your case. Because there are legalities in everything, it is best to consult with an attorney for legal advice. 

Uninsured motorist coverage is very important because it helps protect motorists from the financial risk of an accident. If the uninsured motorist suffered losses from the accident, their insurance company would be unable to pay the claims and require payment from the uninsured motorist.

Uninsured motorist insurance does come with a limit. In fact, some people may find this to be a drawback. There may also be a limit imposed on the amount of time you have to have this coverage in place, which can make this difficult for those needing immediate help.

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