Uninsured (UM) and Underinsured motorist (UIM) insurance are types of coverage that protect you if you’re involved in an accident with a driver who either doesn’t have insurance or doesn’t have enough insurance to cover your damages. While it’s required by law in some states (it is required in Virginia), it’s highly recommended in all situations due to the potential financial consequences of an accident with an at-fault driver who cannot pay for your medical bills, property damage, or lost wages. Many drivers underestimate the importance of having this coverage, but it can be a lifesaver in protecting your financial interests.
Shapiro, Washburn & Sharp only practices personal injury law, and we only represent victims. Our clients pay no hourly or upfront fees, and we provide free consultations. Our firm does not accept every case, but when your case is accepted, you can rest assured that you will get a rock-solid personal injury lawyer fighting for you to maximize your recovery. Call us today at 833-997-1774 for a free case evaluation.
How Do UM And UIM Coverage Differ From Each Other?
Uninsured Motorist (UM) insurance provides coverage if you’re involved in an accident with a driver who doesn’t carry any auto insurance. It covers your medical expenses, lost wages, and other costs related to the accident. On the other hand, Underinsured Motorist (UIM) insurance kicks in if you’re in an accident where the at-fault driver has insurance, but their coverage limits are too low to fully pay for your damages. UIM coverage helps bridge the gap between the at-fault driver’s insurance and the actual cost of your injuries or property damage. Both types of coverage are essential in protecting you from financial losses caused by other drivers who are either underinsured or uninsured.
Why Is It Important to Have UM or UIM Insurance?
Under Virginia law, every driver is required to carry UM/UIM insurance. However, separate from the legal requirement, it’s a prudent decision for any driver. According to recent data, a significant number of drivers on the road are either uninsured or underinsured. A study by the Insurance Research Council estimates that nearly 13 percent of drivers in the U.S. are uninsured, with some states having even higher rates.
If you’re involved in an accident with one of these drivers, and you don’t have UM or UIM coverage, you could be left paying for your medical bills, repairs, and other costs out of pocket. Without these policies, your options for recovering compensation are severely limited. UM and UIM insurance provide a safety net that protects your financial well-being, especially when the at-fault driver has insufficient insurance.
Does Filing a UM or UIM Claim Lead to a Premium Increase?
Filing a claim for UM or UIM coverage can, in some cases, result in an increase in your insurance premiums. However, this varies depending on your insurer and the circumstances surrounding the accident. If you were not at fault and the other driver is completely uninsured or underinsured, Virginia law prevents the insurer from penalizing you for filing a claim. On the other hand, if you have a history of claims or a higher risk profile, your premiums could go up.
What Should I Do If I’ve Been Injured in a Car Accident?
If you’ve been injured due to someone else’s negligence, the first step is to seek medical treatment. Once your immediate needs are addressed, contact an attorney who specializes in car accident cases to discuss your options.
At Shapiro, Washburn & Sharp, we have decades of experience handling personal injury claims. We understand how to navigate the legal process and work with you to maximize the value of your case. Call us at 833-997-1774 to schedule a free consultation, and let us help you get the compensation you deserve.