If you don’t have Underinsured Motorist Coverage, you could be vulnerable if you have a crash.
Everyone on this planet should have Underinsured Motorist Coverage (what we in the business call “UIM” coverage).
Liability coverage, which everyone is required by law to have, doesn’t protect you from any injuries you may suffer; it protects other people from injuries they receive.
Underinsured Motorist coverage, on the other hand, protects you, your family and your loved ones. UIM coverage applies if someone who has small insurance policy hurts you.
You’d be amazed how frequently this happens. For example, years ago (before I knew what UIM coverage was) my brother suffered a severe brain injury in a car accident. The other driver only had the minimum $15,000 in coverage. His damages were in the millions of dollars, but he only got $15,000. If my brother had had UIM coverage, he would’ve been far better off.
What about Uninsured Drivers?
There is also something called “uninsured” (UM) coverage, which is similar. That applies if someone hurts you and has no insurance. It’s estimated that one in ten Arizona drivers have no insurance, even though the law requires it.
UIM and UM coverage is so important that under Arizona law, insurance companies are required to offer it. UIM and UM coverages are relatively inexpensive.
So…in case you didn’t know what UIM and UM coverage is, now you do. If you don’t have it, call your insurance company and get it. Check your insurance policy at least once per year. If you have had changes in your life; marriage, new baby, you may want to adjust your coverage. Make sure your coverage meets your current needs, including UIM and UM.
Hopefully, you won’t need it, but it’s a small investment that may help you in the future.
The liability insurance you pay for covers other people for injuries they may receive, but it doesn’t assist you for damage you might receive. That’s why we have UIM and UM coverage.
If you’ve been in a car accident and suffered injuries, contact the Leader Law Firm today for a free case evaluation.
Helpful Link: Uninsured and Underinsured Motorist Coverage: Protection from Unprotected Motorists