Uninsured/Underinsured Auto Claims – Boring But Important
Victims of auto accidents are usually able to seek compensation for their injuries from the at-fault party’s automobile insurance company. But what happens if there is no insurance for the at-fault party? Or if there isn’t enough?
People who get stuck in these sorts of situations might feel like there’s nothing they can do to get adequately reimbursed for their losses.
There is hope, though! There could still be insurance coverage available to these victims. Namely Uninsured/Underinsured Motorist Coverage…or UM/UIM.
Most drivers have this type of coverage included in their policies. In fact, in NC, you almost certainly have it unless you specifically asked for it to be excluded and signed a separate document to that effect. Also, if you have a minimum limits policy, then you probably don’t have UIM coverage. Anyway, assuming you have it – and you probably do – you can seek payment from your own insurance companies instead of (UM), or in addition to (UIM), the insurance companies of the at-fault parties. Uninsured Motorist coverage is for situations where the bad guy isn’t covered at all. Underinsured Motorist coverage is for when the bad guy doesn’t have enough coverage for the damage he caused.
I know, this sounds boring, but it can be life-altering information. As usual, I’m here to help clear up the confusion, so reach out to me if you have any questions about it. 919-929-2992.
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