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Uninsured/underinsured motorist bodily injury (UM/UIM BI). Protects you if you're hit by a driver who either has no insurance or insufficient coverage to pay for your medical costs.
Uninsured/underinsured motorist coverage (UM/UIM) Helps pay for you and your passengers’ injuries, medical expenses and lost wages if the at-fault driver doesn’t have enough (or any) bodily ...
However, you have uninsured motorist property damage on your policy, so your insurance company could make a payout for your vehicle’s repairs minus your $100 deductible. Other types of car ...
Typically, the payout is not more than the minimum liability limits and the negligent driver remains responsible for reimbursing the state's fund. In the United States, the definition of an uninsured/underinsured motorist, and corresponding coverages, are set by state laws. In some states it is mandatory.
The insurance company will ordinarily pay the judgment, up to the policy limits, once a court determines that an uninsured motorist was at fault. Some states' laws also allow additional insurance coverage to the insured policyholder through policy stacking provisions, whereby a claim may be made against multiple uninsured motorist policies.
Illustration of the partial payout of Sum Insured against probability of occurrence. Condition of average (also called underinsurance [1] in the U.S., or principle of average, [2] subject to average, [3] or pro rata condition of average [4] in Commonwealth countries) is the insurance term used when calculating a payout against a claim where the policy undervalues the sum insured.
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