Understanding Uninsured Motorist (UM) and Underinsured Motorist (UIM) Coverage
Driving in Washington can be unpredictable. Even the most responsible drivers face the risk of accidents caused by others. Unfortunately, a significant number of Washington motorists either lack insurance altogether or carry inappropriate coverage. This is where uninsured/underinsured motorists’ coverage (UM/UIM) comes into play. It offers a crucial layer of financial protection for you if your car is hit by an uninsured or underinsured driver’s car. In other words, UM/UIM coverage protects you in the event of an accident.
For example, if you were injured in a car accident and the at-fault driver was uninsured, your UM/UIM coverage would apply to cover your bodily injury damages. If you had $100,000 of UM/UIM coverage, then those policy limits would be available to cover your damages related to your injuries from the collision. These damages could include medical expenses, wage loss, pain and suffering, and other such harms and losses.
This blog will discuss the pros and cons of UM/UIM insurance in Washington while providing you with the information you need to make an informed decision about your coverage.
Understanding UM/UIM Coverage
What is UM/UIM Coverage – UM/UIM is an optional type of insurance coverage that protects you financially if you are in an accident caused by a driver who is:
- Uninsured: At-fault driver has no bodily liability or property damage insurance.
- Underinsured: At-fault driver has liability insurance, but their policy limits are too low to fully cover your injuries and damages.
Pros of UM/UIM Coverage in Washington
- Protection against uninsured drivers: Sadly, Washington has a high percentage of uninsured drivers. UM coverage ensures you receive compensation for your medical bills, lost wages, and pain and suffering, even if the at-fault driver has no insurance.
- Coverage for hit-and-run accident: UM coverage can apply if you are the victim of a hit-and-run accident, where the responsible driver flees the scene and cannot be identified.
- Supplementing inadequate liability coverage: Even if the driver has insurance, their policy limits may not fully cover the extent of your losses in a serious accident. UIM coverage makes up for the difference.
- Peace of mind: Knowing you have UM/UIM coverage provides peace of mind that you will not be left with potentially overwhelming financial burdens of an accident.
Cons of UM/UIM Coverage in Washington
- Additional cost: UM/UIM coverage increases your auto insurance premiums. However, in general, UM/UIM coverage is very reasonable and represents only a small percentage of your total auto insurance costs. The attorneys at Nelson Injury Law believe it is worth the extra cost.
- Potential deductibles: Your UM/UIM policy might have a deductible, meaning you will have to pay a certain amount out-of-pocket before coverage takes over. However, the deductibles are usually reasonable and are worth the benefits received from UM/UIM insurance coverage.
- Negotiation with your insurer: While UM/UIM is your own insurance, you may still need to negotiate with your insurance company to receive a fair settlement. Therefore, even in an automobile accident case where UM/UIM coverage applies, you will still need an experienced personal injury attorney to represent you in your claim.
Practical Considerations
- Costs vs. benefit analysis: Think about your risk tolerance and the potential financial impact of a serious accident, which includes losing hard-earned assets if your insurance coverage is too low. Consider getting quotes from different automobile insurance companies for liability and UM/UIM coverage limits to weigh the costs and benefits of obtaining adequate insurance.
- Finding the right limits: Washington state does not require you to carry UM/UIM coverage, but the skilled attorneys at Nelson Injury Law highly recommend that you consider adding it to your policy. Consult with an insurance agent or personal injury lawyer to determine the appropriate coverage level for you. In general, it is wise to obtain the maximum coverage you can afford. Your UM/UIM coverage usually has the same limits as your bodily injury liability coverage.
Contact Nelson Injury Law for Help!
UM/UIM coverage is a smart investment for Washington drivers. While it adds to your insurance costs, the potential benefits far outweigh them when you consider the financial devastation an uninsured or underinsured driver can cause. Additionally, the cost for UM/UIM coverage is minimal compared to your overall auto insurance costs. Review your current auto insurance policy or speak with an insurance expert or personal injury attorney to ensure you have the protection you need.
Do not gamble with your financial future. If you have been injured in an accident caused by an uninsured or underinsured driver, the skilled injury attorneys at Nelson Injury Law are here to help you seek compensation for your injuries and other losses. Please contact us now for a free consultation.
Eric S. Nelson, owner of Nelson Injury Law, is an experienced trial attorney of 31 years who will provide you with wise compassionate legal counsel and representation through each stage of your case.