What is medical payments coverage, under/uninsured motorist (“UIM/UM”) coverage, and why do I need it?

insurance memes

You’re thinking “why do I need medical payments or under/uninsured motorist coverage if the at-fault driver will pay me anyway?”

So, you’re looking at policies and you’re thinking “why do I need medical payments or under/uninsured motorist coverage if the at-fault driver will pay me anyway?”

Well, in the area of personal injury law, even if the other driver and their insurance company admit fault, it can take years for you to get paid. That’s why it is important to have medical payments coverage as part of your insurance plan.

What is medical payments coverage?

When you are injured in a motor vehicle collision, you are going to have medical bills to pay right away. Medical payments coverage helps pay off those medical bills instead of having to wait for a settlement. The great thing about medical payments coverage is that it is a “no-fault” coverage. That is, whether or not you caused the collision, medical payments coverage is available. Further, unlike using your health insurance, you do not have to pay co-pays or co-insurance; FWI can simply send the bill to your auto insurance company to request payment. The great thing is, if you are not at fault for the collision and you use this coverage, you cannot be penalized for it by your insurance rates going up. And, you never have to pay the money back out of the personal injury settlement or reimburse the insurance company!

 So, do you have medical payments coverage?

urkel insurance memeWhat is under/uninsured motorist (“UIM/UM”) coverage?

You know the auto coverage you have, but what about everyone else on the road? Unfortunately, drivers don’t have signs on their vehicle letting you know whether they have insurance and many don’t, even though Colorado requires that every driver have at least $25,000.00 in bodily injury coverage. So, what if someone has some insurance, but not enough to cover the injuries they caused you? That’s where underinsured motorist coverage is your friend. If you have underinsured motorist coverage on your insurance policy, it will help make up the difference between what the at-fault person’s insurance pays, and the rest required to properly compensate you for the damages you have suffered.

So now that we know what underinsured motorist (UIM) coverage is, what is uninsured motorist (UM) coverage? It is just what it sounds like: someone who does not have any insurance just hit and injured you and has no insurance to compensate you.

Lucky

What if you don’t have under/uninsured motorist coverage? Well, unless the person that hit you is a millionaire or has the assets to personally pay for your damages, it looks like you are stuck with whatever coverage they have, and potentially paying the rest yourself unless FWI can help.

So, do you have under/uninsured motorist coverage, or do you feel lucky?

Call us at 303-731-4790 for a free consultation or if you have further questions!

Let us help!

Call, email or text us and we'll have a FREE consultation regarding your case.

Contact Us

Wheat Ridge     Arvada      Denver   Lakewood

Disclaimer

LOTY 2020
Trial Lawyers - litigator of the year
AIOLA
AIOLA - Elite Advocate
WCEA
Workers' Comp Education Association
Brianne attorney.com
Accident and Injury Lawyer
NTL Top 100
Top 100 Trial Lawyers
2020 Top 10 Workers Comp
Worker's Comp Attorney Award
2020 10 Best PIA
American Institute of Personal Injury Attorneys badge
NTL Top 40
National Trial Lawyers Top 40 Under 40 badge
PIA Top 10 2020
Personal Injury Attorney top 10 badge
2yrs Satisfaction Workers Comp
Workers' Compensation Law Division badge
AITL Litigator of the Year
Litigator of the year badge
Expert Network
Expert Network badge
Top 10 Attorney
Workers Compensation Attorney badge
10 Best Attorney
Attorney Client Satisfaction - Personal Injury Attorneys
Naopia Badge
NAOPIA badge
ASLA 2018 Top 40 Lawyer Under 40
ASLA Top 40 badge
High Stakes Litigators
High Stakes Litigators badge
Rising Stars Brianne
View the profile of Colorado Personal Injury - General Attorney Brianne Falgien
10 Best Attourney 2017
AIPIA badge
American Jurist Institute
American Jurist Institute badge
Lead Counsel Rated
Lead Counsel badge

Lawyer.com Brianne Badge
Lawyer.com Jerrod Badge
Lawyer.com Vinny Badge
Copyright 2018

© Falgien Warr & Iyer, P.C.