The auto insurance plays an important role in providing financial security to the drivers. This saves them from bearing higher costs when dealing with accidents.
With a working insurance policy, the car drivers and the motorists overall can get this surety that they will be protected by the huge costs that occur along with the unforeseen expenses.
Regardless of the advantages and the disadvantages of the insurance, only some drivers can carry fulfilling coverage.
A car accident lawyer can play a very important role here to shield and guide you through the insurance coverages of both uninsured and underinsured.
What is Uninsured Motorist Coverage?
The uninsured motorist’s claim is a very important component of the auto insurance policy. It helps with the protection of the person holding the policy or specifically the person who has met an accident with the other party that doesn’t have auto insurance coverage.
Uninsured Motorist Coverage Scenarios
There are some specific instances in which the uninsured motorist’s coverage can come in and help you out.
Accidents as Passengers
If the person who has hit you is in a vehicle and you are the passenger, the uninsured coverage will benefit you by covering your damages and can help in covering the medical expenses, relying on the policy.
Hit and Run Accidents
If you get into an accident that was hit and run in nature, then the uninsured motorist policy can help you out as well. Even if the person who hit you vanishes from the scene, you still get covered by the insurance for the damages that you bear.
A personal injury lawyer can for sure make it easy for you to go through these claims.
Accidents with Uninsured Drivers
If the driver that is at fault does not have insurance, uninsured motorists’ coverage can cover the expenses resulting from the accident. This can also help you out if you are a pedestrian or a cyclist on the road.
Advantages of Uninsured Motorist Coverage
There are some of the major benefits of Uninsured motorist coverage. Let’s have a look.
Personal Injury: In case of bodily injury, uninsured motorist coverage can help you get compensation for the lost wages, the pain, and the suffering that is related to the injury.
Property Related Damage: A lot of times the UM policies can help in covering the damages of personal property and even the vehicles. This is obviously not included already but does include deductibles.
What is Underinsured Motorist Coverage?
The underinsured motorist’s coverage is also one of the components of the auto insurance policy. This one is different from the uninsured in a way that it provides protection to the party holding the insurance. Here, the twist is that the driver who is at fault has insurance coverage that is inadequate to cover the total costs of the injuries and the damages that occurred.
So, in summary, the party at fault might have the insurance but that is not enough to cover the financial damages caused by the accident.
In such cases, underinsured coverage insurance comes in help and fills the gap between the actual damages and the limits of the policy of the driver at fault.
When Does Underinsurance Motorist Coverage Help?
It does help in several cases, like:
Many Victims
In cases where there is more than one victim or passenger involved in the accident, the drivers who are at fault might come up with the exhaustion of their insurance policy and can leave the victims without giving them the compensation they deserve.
So, here the underinsurance coverage comes in help and caters to the ones who are not being given the compensation they deserve.
Surpassing Liability Limits
If there is an accident that you have met and the other driver is the one who is at fault, in this case, their liability insurance will be paying the damages that you went through. No, if these repair costs and the medical bills do get more than the policy limits, the underinsurance coverage will intervene and cover the remaining costs.
Higher Actual Costs
A lot of times, the injuries and the damages that occur as a result of an accident are not visible right after the accident occurs. These are often felt and seen after a good amount of time has passed. Now, if this occurs when the limit of the driver at fault has reached its limit, then underinsurance coverage can come in handy and help you out.
Conclusion
Both uninsured and underinsured motorists do differ from each other but serve the same purpose which is providing coverage to the parties that go through damages and injuries resulting from accidents. It is on you to have proper know-how of both the policies and how they work when it comes to dealing with accidents.
