Uninsured and underinsured motorist coverage is more affordable than basic liability coverage and it covers you and your family – in the event of an injury caused by someone else. Liability coverage protects you from lawsuits – which can occur when you at fault in a collision and hurt someone else. The UM/UIM insurance protects you from all other drivers out there that could possibly cause a crash without insurance – or not enough to cover your loss.
What Are The Top Misconceptions People Have About Being In An Accident With An Uninsured Or Underinsured Motorist?
There are people who have UM/UIM coverage and don't even know what it is or that they have it. For example, there are people who assume that if they are in a crash with somebody who doesn't have insurance they are not going to be able to recover at all, even though they may have already bought insurance for such things.
What Happens If Someone Doesn't Have Uninsured Or Underinsured Motorist Coverage?
If you are in a crash that's caused by someone who doesn't have insurance and you don't have UM/UIM coverage, you are not going to be able to make an auto claim because there is no auto insurance available for you.
What Happens If Someone Has UIM Coverage?
If you are in an auto accident caused by someone who doesn't have insurance, you can make a claim with your own insurance company. If you are hurt, let them know you are hurt and that you're going to see the doctor. In doing that, you are initiating a claim and you are doing what you need to do to ensure that you are living up to your own obligations under the policy to promptly report potential claims.
Is There A Certain Time Limit To File A UIM Claim?
Most policies require that the insurance company be advised as quickly and as is reasonably possible. There are situations where it's reasonable to do so the same day and there are other situations where it's reasonable to do it at a later time. Regardless, however, always call your own insurance company as soon as you can after an automobile collision. It is not something to wait on. If you want advice, you can call the Anchorage car accident lawyers at Banker Law Group for a free consultation – (907) 222-2999.
Is It Advisable To Sue The Uninsured Or Underinsured Person?
There are cases where it makes sense to pursue a claim directly against the uninsured or underinsured driver, but they are rare. For example, Attorney Anthony Banker represented the wife of a gentleman who was killed by a drunk driver. That drunk driver went to jail because it was his third felony DUI and he killed someone. In that case, the drunk driver had only had $50,000 worth of coverage but he was a very wealthy businessman and had significant assets. It made sense, in that situation, to pursue that claim directly against the underinsured driver before going after the Under-Insured Motorist (UIM) coverage.
Is It Difficult Ro Recoup A Settlement From Lawsuits Against Uninsured or Underinsured People?
Most drivers who do not have insurance, don't have any money or assets. From a practical perspective, it is very difficult to get any kind of recovery from an under or uninsured driver. It makes a lot more sense to carry your own coverage in most cases.
For more information on Affordability Of UIM Coverage, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling an Anchorage personal injury lawyer at (907) 222-2999today to schedule a free consultation.