Two of the most important and least understood aspects of your personal automobile insurance policy are uninsured and underinsured motorist coverage. They are commonly referred to in the insurance industry as UM and UIM, respectively. Surprisingly, uninsured and underinsured insurance is relatively inexpensive. It is fair to say that these coverages may be the last "bargain" in automobile insurance today.
Uninsured motorist coverage provides insurance protection for you and the members of your household when you receive an injury because of the negligence of a driver having no insurance. This coverage is especially important given the large number of individuals who presently drive vehicles without any insurance.
Uninsured motorist coverage is the only way you have of self-insuring yourself and your loved ones against financial loss due to the lack of insurance on the part of the person causing a motor vehicle collision.
The following are several typical situations where uninsured motorist (UM) coverages apply:
There are many other examples which could be given. It is important to remember that anytime you are injured directly or indirectly by an uninsured or phantom vehicle, you should contact our office immediately.
Underinsured motorist (UIM) coverage is similar to uninsured motorist (UM) coverage but is used in situations where the party causing the accident has some, but not enough, insurance to fully compensation you. Underinsured motorist coverage is the only way of insuring yourself against a party that causes greater that the coverage limits of their insurance. For example, if you receive injuries which would be compensated by receiving $100,000, but the individual responsible has only purchased $50,000 in insurance, then you would only receive $50,000 in coverage. However, if you had been thoughtful enough to have purchased underinsured motorist (UIM) coverage, then you would receive an additional $50,000 from your insurance company.
If you make an uninsured or underinsured motorist claim you insurance rates will not go up. Your insurance rates can only go up when the collision is your fault and chargeable against your policy. When you make an uninsured or underinsured claim, you are simply using the insurance coverage you purchased to protect yourself against an uninsured or underinsured person.
For assistance with your auto accident questions or claims, contact Flager & Yockey, P.C. Our experienced automobile accident lawyers are eager to assist you or your loved ones with your case. We serve Philadelphia, Bucks, Montgomery, Delaware and Chester Counties and all of Eastern Pennsylvania, including Bethlehem, Allentown, Easton, Harrisburg, Hazelton, Wilkes-Barre, Scranton, Williamsport and the Poconos as well as the entire State of New Jersey.
Remember, your initial consultation is free. You don't pay us unless you win.
Call (215) 953-5200 or 1-888-470-1099 for your free personal injury consultation today.
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