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What does Uninsured or Underinsured Motorist Coverage Mean on My Insurance Policy?

If you have ever taken the time to review your insurance policy or the declarations page (the page with all of the policy limits spelled out) that your insurer sends to you, then you have probably seen or heard the terms UM/UIM or Uninsured/Underinsured Motorist Coverage.    Uninsured motorist coverage  (UM) is a provision in your automobile insurance policy that provides coverage to you the insured if you are injured in a motor vehicle accident caused by someone operating another vehicle and who does not have any insurance on their vehicle.   In order to invoke the coverage, the accident needs to have been  the fault of the uninsured party.   

Underinsured motorist coverage (UIM) is a provision in your automobile insurance policy that provides coverage to you the insured, if you are involved in a motor vehicle accident caused by someone operating another vehicle –  and who does not carry sufficient insuranceto compensate you for your injuries.   As a general rule of thumb,  to invoke the underinsured coverage – your policy limits for your UIM coverage need to be greater than the underlying limits of the tortfeasor (the person who caused the accident).

Therefore, when you select the policy limit amounts, you should take into consideration that UM/UIM coverage is for your own protection in the case of an accident.

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