What are the benefits of UIM? Underinsured or uninsured motorist coverage provides financial protection to the policyholder in the event that another person causes the accident but lacks adequate insurance to cover your losses.
Consider the additional benefits of UIM and why purchasing this policy can help you, as explained by a Lafayette car accident lawyer.
UIM Covers Your Losses
UIM provides coverage to you, the person who purchases the policy, in the event that the other party lacks enough insurance to cover all of your losses. It can cover bodily injury losses, such as medical expenses and property damage claims that the at-fault driver caused to you. This type of coverage helps fill the gap between the at-fault driver’s insurance and your losses.
To file a UIM claim, you must take out the policy in advance of the accident. It is not always a legal requirement to maintain this coverage. For example, in Louisiana, drivers are not required to maintain a UIM insurance policy. Many still do because of the financial support it can provide in a time of trouble. Even if your state does not require it, many people purchase it.
Most often, UIM covers only those named on the policy. That means if you are in an accident and the other person does not have any or does not have enough insurance coverage, you can pursue a claim under your policy.
It Can Cover Your Medical Costs
With UIM, you gain coverage for your medical losses. That includes, for example, emergency medical care you received, hospitalizations, and surgeries. Most policies will continue to cover other losses, including future medical expenses.
It Can Cover Your Property Damages
Your UIM coverage can also cover your property damage, such as damage to your vehicle caused by the other driver. If another driver strikes you, causing thousands of dollars in damage to your vehicle, but they lack enough coverage to pay for it, your policy will step in to fill the gaps, up to the amount of UIM coverage you have. That can include making repairs or replacing a vehicle that is no longer justified for repair.
It Can Cover Your Lost Wages
For some people, these accidents can mean serious injuries and long-term absences from work as a result. This coverage may provide some coverage for your lost wages, including any loss of benefits, wages, or bonuses you would have received in the accident. This can also include the loss of future income if you cannot return to the same job.
"I have used Galloway Jefcoat a few times and have always been very satisfied. Furthermore, all of the people who work there are very professional, nice, and courteous."
UIM Follows You
Another benefit of UIM (RS 22:1295) is that it covers you and follows you, no matter which vehicle you are driving. For example, you purchase a UIM policy. That policy will protect you no matter which vehicle you are in at the time of the accident.
In addition to following you, UIM can also apply to other people. For example, it typically applies to anyone who is hurt in a car accident who lives in your home. If your family member who lives with you is struck by a vehicle, for example, and that driver lacks enough insurance protection, your UIM policy may help cover some of the losses they have.
In addition, your UIM policy covers any passengers in your vehicle at the time of the accident. If their injuries and losses exceed the at-fault driver’s coverage, your UIM can help cover the additional expenses. This policy protects anyone in your vehicle at the time of the accident.
It Can Cover Hit and Run Accidents
Uninsured motorist coverage can also be a critical financial resource if you are in an accident with a driver who lacks any insurance coverage. In this situation, the policy helps protect you from losses by allowing you to file a claim directly with your insurer, even when the identity of the other driver is unclear. For example, in a hit-and-run accident, you cannot seek compensation from the at-fault party.
In a hit-and-run accident, your UIM and UM coverage will cover any losses you have in the incident. That includes medical costs and property damage related to the accident. The police will still investigate to find the parties at fault, and when they do, you may be able to seek additional losses not otherwise covered from the at-fault party.
If you do not know who struck your vehicle but have evidence that it occurred, your insurance company needs to know. However, you also need to realize that your insurance company, in this case, is going to push back and try to limit the compensation you receive. This is another reason to work with an attorney throughout this legal process.
"As a client of Galloway Jefcoat for over two years I want to take a minute to say how much I appreciate the team handling my case."
A UIM Policy Gives You Peace of Mind
Your UIM coverage benefits you directly because you know that, no matter who strikes your vehicle, it will continue to meet your needs. You can focus on your medical and mental health recovery. This policy will continue to work for you until you have exhausted all available benefits.
With UIM, you have additional protection, but you still have the legal opportunity to file a lawsuit against others. If you learn who the hit-and-run driver was or you uncover additional losses, you can still seek additional losses in a lawsuit filed against those parties.
If you have UIM, work with your attorney to file your claim. Be sure to document a clear claim with all losses, and do not admit fault in the accident. These steps protect you.
"Great experience, from day 1 I felt like I finally had someone on my side and that feeling didn't leave me for 1 single moment."
Let Your Car Accident Attorney Guide You
Working with an attorney can provide important support for you in these challenging cases. Hire an attorney with UIM policy experience to make the most out of your claim and case. Call the office of Galloway Jefcoat to schedule a free consultation today.
"Galloway Jefcoat helped me at a time when I felt lost and taken advantage of by my employer."
