Written by Parnall Law Firm reviewed by Bert Parnall
Uninsured Motorist/Underinsured Motorist (UM/UIM) Insurance
Driving can be a risky activity, and accidents can happen even to the most cautious drivers. Unfortunately, some drivers on the road may not have proper insurance coverage or may not have enough coverage to pay for the damages they cause.
This is where uninsured motorist/underinsured motorist (UM/UIM) insurance comes into play.
If you or a loved one has been involved in an auto accident with a driver without proper coverage, an Albuquerque car accident lawyer will protect your rights and ensure you get the compensation you deserve for your injuries.
What is Uninsured Motorist/Underinsured Motorist Coverage?
What is UIM? UM/UIM insurance is a type of auto insurance coverage that protects you if you’re involved in an accident with a driver who doesn’t have any insurance or doesn’t have enough insurance to cover the damages or injuries you sustain.
Uninsured motorist coverage kicks in when the at-fault driver has no insurance at all, while underinsured motorist coverage applies when the at-fault driver has some insurance, but not enough to fully compensate you for your damages and injuries.
Who benefits from UM/UIM insurance?
UM/UIM insurance is designed to protect you, your passengers, and any family members listed on your policy. It provides coverage in situations where you are involved in an auto accident caused by a driver who either has no insurance or whose insurance coverage is insufficient to cover the damages.
UM/UIM insurance can offer compensation for a range of expenses, including medical bills, lost wages, and other damages that arise from the accident. This coverage ensures that you are not left financially burdened due to another driver’s lack of adequate insurance.
UM/UIM insurance acts as a safety net to help you and your loved ones get back on your feet after an accident.
What types of expenses does UM/UIM cover?
UM/UIM insurance can help cover various expenses related to an accident, including:
- Medical expenses which include hospital bills, doctor visits, surgery costs, rehabilitation expenses, and other medical treatments required due to injuries sustained in the accident.
- Lost wages if you’re unable to work due to your injuries. UM/UIM coverage can help compensate you for lost income while you recover.
- Pain and suffering. In some cases, UM/UIM insurance may also cover non-economic damages, such as pain and suffering, emotional distress, and loss of enjoyment of life.
- Vehicle damage. Some UM/UIM policies may also provide coverage for damages to your vehicle if it was hit by an uninsured or underinsured driver.
UM/UIM vs Third-Party Bodily Injury Liability Insurance
Third-party bodily injury liability insurance is designed to cover damages and injuries you cause to others in an accident where you’re at fault. This type of insurance helps pay for medical expenses, lost wages, and other related costs incurred by the other party involved in the accident.
In contrast, UM/UIM insurance protects you and your passengers when you’re not at fault, and the other driver is uninsured or underinsured. It ensures that you are compensated for medical expenses, lost wages, and other damages resulting from the accident, even if the responsible driver lacks sufficient insurance.
Essentially, UM/UIM insurance acts as a safeguard for you and your loved ones, providing financial protection in situations where the at-fault driver cannot fully cover the damages.
Can I handle my UM/UIM claim on my own?
While you can technically handle a UM/UIM claim on your own, it’s generally advisable to seek legal assistance from an experienced personal injury attorney. Insurance companies often try to minimize or deny claims, and navigating the claims process can be complex and challenging.
An attorney can help protect your rights, gather necessary evidence, negotiate with the insurance company, and ensure you receive fair compensation for your damages and injuries. Having professional legal support increases the likelihood of a successful outcome and reduces the stress and burden on you during an already difficult time.
Should I buy UM/UIM coverage?
Given the potential risks and expenses associated with accidents involving uninsured or underinsured drivers, it’s generally recommended to purchase UM/UIM coverage as part of your auto insurance policy.
While it may increase your premium slightly, the added protection and peace of mind can be invaluable in the event of an accident.
Get In Touch With An Albuquerque Car Accident Lawyer
If you or a loved one has been involved in an accident with an uninsured or underinsured driver, don’t go through it alone.
Contact Parnall Law car accident lawyers today to schedule a free consultation with one of our experienced attorneys.
We’ll work tirelessly to protect your rights and ensure you receive fair compensation for your damages and injuries. Call us at (505) 268-6500 or online to get started.
