While no one likes the idea of an accident, being involved in one can be extremely detrimental to your finances if you don’t have the right insurance. Uninsured/underinsured motorist (UM/UIM) insurance is an important type of coverage that can help you if you are involved in an accident caused by someone who does not carry adequate insurance.
What is Uninsured/Underinsured Motorist Insurance?
UM/UIM insurance provides more than just legal protection. It provides an extra layer of security that can help you avoid the financial hardship associated with an accident that wasn’t your fault. Uninsured motorist (UM) coverage can provide you protection even if your state doesn’t require you to purchase it. You need to have this type of auto insurance, especially if you live in a no-fault state.
Uninsured motorist (UM) coverage protects you during an accident with a driver who doesn’t have liability insurance. On the other hand, underinsured motorist (UIM) coverage is useful when you get in an accident with a driver who doesn’t have enough liability coverage.
In most vehicle accidents where the accident isn’t your fault, you would file a claim with your insurance company as well as with the at-fault driver’s insurance company. The insurance companies will compensate you so you can pay for your vehicle repairs, medical expenses, and lost wages.
However, if the at-fault driver doesn’t have insurance, or the at-fault driver doesn’t have enough coverage, then you would get no compensation from the driver’s insurance company. Additionally, if you live in a no-fault state such as Utah, your insurance company will only pay for $3,000 of your medical expenses. This means that you will pay out-of-pocket for the damages that you did not cause.
Is it required in Utah?
Utah law does not require motorists to get UM/UIM coverage. However, if you decide to get this insurance, Utah law requires you to get at least $25,000 per person or $50,000 per accident.
As mentioned above, Utah is a no-fault state, which means that regardless of who caused the accident, the injured party must seek compensation from their own insurance providers first. If their expenses exceed the amount dictated by the statute, then the injured party can file a claim for general damages against the at-fault party.
Why is UM/UIM so important?
Getting UM/UIM coverage protects you from drivers who have no insurance, or don’t have enough liability coverage to compensate for your damages. It can also help you with your expenses in case you become a victim of a hit-and-run accident. If you’ve been involved in an accident and are thinking about filing a personal injury claim, don’t hesitate to reach out to the Utah attorneys at 801-INJURED. We’d be happy to discuss your situation and help you get the compensation you deserve.