UNINSURED AND UNDERINSURED MOTORIST INSURANCE COVERAGE
Are you a Nevada driver who’s uninsured or under-insured?
Like many states, Nevada has very specific requirements when it comes to the level of insurance coverage that a motorist must carry. When a driver meets this minimum, it’s known as carrying “full” coverage.
Many drivers are actually under-insured, which may pose some serious issues if you’re involved in an accident. In Las Vegas, and other areas of Nevada, drivers must carry:
- $15,000 worth of bodily injury liability insurance per person;
- $30,000 worth of coverage per accident; and
- $10,000 worth of property damage liability insurance.
If you fail to meet these minimums, you’re classified as an uninsured motorist (UM) or under-insured motorist (UIM).
To put these numbers into perspective as to why full coverage is really minimal coverage, a single hospital visit via the emergency room can total $10,000 or more. Each day hospitalized can run $10,000 or more, depending upon the nature and severity of an individual’s injuries.
It is important to note that if you are the at-fault driver, will be liable for any expenses that are not covered by the other party’s insurance. Therefore, if you have 15/30 liability coverage and the other party obtains a judgment against you totaling $150,000, you may be personally liable for paying the remaining balance of $135,000 if the injured party obtains a judgment. This places your assets and financial future at serious risk. You do not want to have to file bankruptcy, because you failed to get enough insurance coverage.
Getting additional coverage serves to protect your assets. Some additional coverage options include UM/UIM coverage, medical, GAP and towing.
According to a 2014 study performed by the Insurance Research Council, approximately 12% to 15% of drivers are uninsured and many Nevada drivers carry only the minimum. If you happen to be involved in an accident with another driver who is under-insured or uninsured, you may find yourself footing the bill for medical expenses. This can put a severe dent in your savings. But UM/UIM coverage protects you up to the insured amount in the event you’re involved in a crash with an uninsured or under-insured motorist.
Hit and run collisions are also covered.
This coverage option reimburses you up to the insured amount for necessary medical expenses stemming from a crash with a uninsured or under-insured motorist. You may also receive compensation for pain and suffering, wage losses and future medical expenses stemming from the crash.
Notably, UM/UIM insurance coverage is not vehicle-specific, so it applies to any vehicle you drive or ride in as a passenger including rental cars. This insurance coverage also covers you if you’re injured while on public transportation or when you are a passenger in a cab or bus for example.
If a policy holder happens to have UM/UIM coverage as part of their vehicle’s coverage, any damages that exceed that coverage may be covered by your UM/UIM policy.
What’s more, children and relatives who reside with you but who are not named on your policy will also be covered by your UM/UIM coverage if they’re involved in a collision with another vehicle.
They’re also covered in the event they’re involved in a pedestrian accident.
For a free legal consultation, call (725) 900-9000
Many drivers fail to realize that their insurance coverage provides coverage for the other party, while leaving their loved ones with the bare minimum. It makes little sense to cover the other driver for $100,000/$300,000, while providing yourself and your loved ones with $15,000/$30,000 coverage.
A UM/UIM insurance policy closes this gap, providing you with greater coverage for you and your loved ones.
Contact us today for a free, no-obligation review of your insurance coverage.
If you’ve been injured in a crash that resulted from another party’s negligence, contact or call our law office Van Law Firm at 702-529-1011 to schedule a free consultation. You can guarantee the other party has attorneys working hard on their side to protect their interests. You should have a qualified firm representing your best interests.
Call Van Law Firm today at 702-529-1011.
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