When you are injured by a driver that fails to have insurance you may still have a claim, a good one at that. Uninsured/Underinsured Motorist (UIM) insurance plays a crucial role in protecting motorists in Missouri. UIM insurance acts as a safety net, providing financial protection to policyholders. In this blog, we will delve into the workings of UIM insurance in Missouri, examining the relevant statutes that govern its implementation.
The foundation of UIM insurance in Missouri lies in Section 379.203 of the Missouri Revised Statutes. This statute mandates that all motor vehicle insurance policies issued in the state must include UIM coverage, unless explicitly waived in writing by the policyholder. This requirement ensures that drivers have the option to protect themselves financially in the event of an accident involving an uninsured or underinsured driver.
Missouri law establishes minimum coverage limits for UIM insurance, which policyholders must meet. As of the time of writing, the minimum limits are $25,000 per person and $50,000 per accident for bodily injury. Additionally, a minimum coverage of $10,000 is mandated for property damage. These limits serve as a baseline, but policyholders can choose higher coverage amounts to suit their individual needs.
One important aspect of UIM insurance in Missouri is the ability to stack coverage. Stacking allows policyholders to combine the UIM coverage limits from multiple policies or vehicles under the same policy to increase their overall coverage. The stacking provisions are outlined in Section 379.203.5 of the Missouri Revised Statutes. This provision ensures that individuals with multiple vehicles or policies can maximize their protection if they are involved in an accident with an uninsured or underinsured driver.
When an accident occurs involving an uninsured or underinsured motorist, the UIM insurance coverage comes into play. In Missouri, policyholders must promptly notify their insurance company about the accident and the involvement of an uninsured or underinsured driver. The insurer then initiates an investigation and assesses the damages and injuries incurred. Most times the adjusters start with a low offer, until you bring in Apex Law to slam the door.
It's important to note that UIM coverage is triggered when the liable party's insurance limits are exhausted, and the injured party's damages exceed those limits. The UIM policy then fills the gap up to the policyholder's chosen coverage limits.
UIM insurance is a critical component of any motor vehicle insurance policy in Missouri. The statutes governing UIM insurance ensure that policyholders have a level of protection in case they are involved in an accident with an uninsured or underinsured driver. By understanding these statutes and the coverage limits, motorists can make informed decisions about their insurance needs, ensuring their financial security in the face of unfortunate circumstances. Remember, it is always advisable to consult with an attorney to understand the specific details of your policy and how UIM insurance works in your situation.
If you or someone you know was injured by an irresponsible auto owner who failed to carry insurance call Apex Law so we can start your case the right way and protect your interests. Click here to contact us.
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