What is a UM Definition?
UM stands for Uninsured Motorist, which is a type of coverage that protects you in case you’re involved in an accident with a driver who doesn’t have insurance. Understanding the UM definition is crucial for ensuring you have the proper coverage in case of an accident.
Types of UM Coverage
- Bodily Injury UM: This covers your medical expenses and lost wages if you’re injured in an accident with an uninsured driver.
- Property Damage UM: This covers the costs to repair or replace your vehicle or property damaged in an accident with an uninsured driver.
Why UM Coverage is Important
Having UM coverage is important because not everyone follows the law and carries the required auto insurance. In the event of an accident with an uninsured driver, UM coverage can help you avoid out-of-pocket expenses for medical bills, vehicle repairs, and other damages.
Case Studies
In a recent study, it was found that nearly 13% of drivers on the road are uninsured. This highlights the importance of having UM coverage to protect yourself in case of an accident with one of these drivers.
Statistics
- According to the Insurance Information Institute, uninsured motorist coverage is required in 21 states and the District of Columbia.
- In 2016, the average claim for bodily injury from an uninsured motorist was $20,000.
