The Difference Between UM and UIM Claims
Personal Injury Lawyers » The Difference Between UM and UIM Claims
What is the Difference Between Uninsured Motorist (UM) and Underinsured Motorist (UIM) coverage?
Uninsured motorist coverage allows one to recover from their own insurance coverage in instances where the individual and vehicle at fault in the accident are not covered by insurance. While minimum coverage is required by state law, many drivers today still drive without insurance. In fact, according to news sources, one of every seven drivers on the road is uninsured. This can leave you in a difficult situation if you get into an accident with an uninsured motorist; you would likely need the assistance of an attorney to aid you in your possible avenues of recovery.
Unlike uninsured motorists, underinsured motorists do have insurance; the insurance coverage is generally at or close to the minimum requirements of state law. While motorists are perfectly within their rights to carry such a low amount of insurance, this small amount of coverage goes only a little way in covering all the costs related to an accident; such as injuries, property damage, lost wages, and other costs. Underinsured motorist coverage will protect you from accidents such as these, where you’re insurance will pay the remainder or set amount of money toward the amount the at-fault driver’s insurance did not cover.
Different states take different approaches to their policies on the uninsured motorist and underinsured motorist coverage requirements. Some states require that uninsured motorist and underinsured motorist coverage is part of your regular insurance package while other states have no such requirement and treat these as optional additional coverage types.
Why Is This Important to me?
This is important to consumers because the reality is that people who are underinsured or uninsured generally lack substantial assets that could be sought in a lawsuit or aid in their insurance’s lack of coverage. Drivers need to be proactive in protecting themselves from these future accidents with uninsured and underinsured motorists.
Do you have a legal issue or question? Call us now.
How Does Texas Treat Uninsured and Underinsured Motorist Coverage?
The Texas Insurance Code requires that all automobile insurance companies in Texas offer underinsured motorist/uninsured motorist coverage as a part of the standard Texas Personal Automobile Insurance Policy, with the purpose being to protect those who are insured against the negligent acts of the financially irresponsible (Member Mutual Ins. Co. v. Hermann Hospital, 664 S. W. 2d 325 [Tex.1984]). Basically, by purchasing this coverage, the policyholder has purchased liability insurance for the uninsured or underinsured motorist (Sikes v. Zuloaga, 830 S. W. 2d 752 [Tex. App.—Austin 1992, no writ]). While Texas has done its best to protect its motorists from situations such as this we can never be too careful and insurance companies often try to limit the amount of money they have to payout. You need someone that can help explain your rights to you.
Being in an auto accident can be a scary experience and oftentimes you are left not knowing what to do or who to turn to. That’s why you should contact our law office. They have more than 20 years of personal injury experience and are eager to help you get through this trying time.
This Blog was posted By The Carabin & Shaw Law Firm. principle Office in San Antonio, Texas
