FerryLaw: Auto / Car Accident Attorneys in New Britain, Hartford, Waterbury CT
What is UM/UIM?
Uninsured/underinsured motorist coverage provides benefits to policy holders for bodily injury caused by another driver who left the scene of the accident, has no insurance or does not have enough insurance to adequately cover your losses.
UM/UIM motorist coverage provides benefits to policy holders & passengers for bodily injuries caused by another driver who either: (1) has no insurance; (2) does not have adequate insurance to cover your losses; or (3) left the scene (“hit & run”)
Connecticut law requires that all motor vehicles that operate on its highways have liability insurance of at least $25,000/$50,000 ($25K per person, $50K per accident). In addition, Connecticut General Statutes § 38a-336 requires that all liability insurers provide UM/UIM motorist coverage that is equal to the liability limits the insured purchased.
Who can UM/UIM potentially cover?
UM/UIM generally covers:
- the policy holder who is the named insured;
- passengers in the vehicle insured by the policy; and
- relatives & spouses who lived with the named insured.
What is Underinsured Motorist Conversion Insurance?
Conversion coverage also provides for reimbursement in case you are injured by an underinsured driver. If your damages exceed the at-fault driver’s insurance, or other payments, your underinsured motorist conversion coverage will be available for damages not paid. This optional coverage is not reduced by payments from any other source, including the at-fault driver’s liability insurance.
Public Act 09-72 also requires an insurer issuing a new automobile policy to inform the policy holder of the availability of underinsured motorist conversion coverage, which can be purchased as additional underinsured motorist coverage. Unlike traditional UM/UIM coverage, this optional coverage will not be reduced by any other sources of payment like traditional underinsured motorist coverage.
What’s an example of UM/UIM and Conversion Coverage?
Example: You are involved in a motor vehicle accident caused by another driver’s negligence and sustain $400,000 in personal injuries.
The driver only has a $200,000 policy. You have a $300,000 UM/UIM policy.
UM/UIM: You would be allowed to recover the $200,000 policy from the at-fault driver and $100,000 of your own UM/UIM policy, which would equal your $300,000 policy limit.
Conversion: If you had underinsured conversion coverage of $300,000, conversion coverage would allow you to recover the $200,000 from the at-fault driver AND $200,000 from your own insurance.
Why is UM/UIM Insurance Important?
A strong UM/UIM policy is critical to protect yourself and your family from under/uninsured motorists or hit & run situations, especially if you drive in highly populated areas with greater traffic. UM/UIM coverage can prevent you from being left in financial ruin if you are injured by another driver who either had no insurance or minimal insurance that’s inadequate to fairly compensate you for harms and losses.
If you’ve been injured in a car accident by an underinsured/uninsured motorist, contact Ferry Law as soon as possible.