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Uninsured motorist clause. An uninsured motorist clause is a provision commonly found in United States automobile insurance policies that provides for a driver to receive damages for any injury he or she receives from an uninsured, negligent driver. The owner of the policy pays a premium to the insurance company to include this clause.
In Colorado, for example, it was estimated in 2009 that 15% of drivers were uninsured. [11] Usually the limits match the liability limits. [citation needed] Some insurance companies do offer UM/UIM in an umbrella policy. Some states maintain unsatisfied judgment funds to provide compensation to those who cannot collect damages from uninsured ...
State law requires all Colorado drivers to carry a minimum of: $25,000 in bodily injury liability coverage per person. $50,000 in bodily injury liability coverage per accident. $15,000 in property ...
24 states originally enacted no-fault laws in some form between 1970 and 1975; several of them have repealed their no-fault laws over time. Colorado repealed its no-fault system in 2003. Florida 's no-fault system sunsetted on 1 October 2007, but the Florida legislature passed a new no-fault law which took effect 1 January 2008.
Uninsured motorist coverage typically comes in two types: Bodily Injury (UMBI), which covers medical costs, and Property Damage (UMPD), which pays for car repairs.
State laws related to driving habits. ... increasing uninsured/underinsured motorist (UM/UIM) coverage is crucial. ... approximately 12% to 13% of drivers in Georgia are uninsured. This rate ...