Who is considered an underinsured driver?
According to Insurance.com, an underinsured driver is someone who “had insurance that met minimum legal requirements, but did not have payment limits high enough to pay for the damage caused by the accident.”
Who is considered an uninsured driver?
According to Insurance.com, an uninsured driver is someone who “did not have any insurance, had insurance that did not meet state-mandated minimum liability requirements, or whose insurance company denied their claim or was not financially able to pay it.”
What is underinsured or uninsured motorist coverage?
Underinsured/uninsured motorist coverage (UM/UMI) is coverage that protects you if you are in an accident and the other party is underinsured or uninsured. This coverage can pay for injuries to you and your passengers. In addition, when the other driver is both responsible for the accident and considered “underinsured or uninsured,” the coverage may pay for damages to your property.
In most states, the policies can be purchased together, but it is important to note that they are separate policies.
Why would I need underinsured or uninsured motorist coverage when my state requires insurance?
While this may be true, the Insurance Research Council estimates that the percentage of uninsured drivers in some states can reach up to 25%.
What should I do if I am in a collision with an underinsured or uninsured motorist?
If you are in a collision of any kind, the first thing you should do is call the police and file a police report.
In most cases, if you have full-coverage motor vehicle insurance, your insurance will cover medical and vehicle related expenses.
However, if you only carry liability insurance, you may need to pursue a lawsuit against the party at fault. After a collision, you may have the right to compensation. At Oracle Law Group, we do everything we can to see that you recover your losses.
We are experienced in handling underinsured and uninsured motorist claims, so if you have suffered personal or property damage due to a collision with an underinsured or uninsured driver, call an experienced Ariz. lawyer; call Oracle Law Group P.C.