In Missouri, underinsured motorist insurance (UIM) is a type of car insurance that can provide additional coverage for you if you are in an accident with another driver who does not have enough insurance to cover your damages.
For example, let's say you are in a car accident and the other driver is found to be at fault. However, the other driver only has liability insurance coverage for $25,000. But the cost of your medical bills and damages to your car is $50,000. In this case, the other driver's insurance policy would only cover $25,000 of the damages.
If you have UIM insurance coverage, it would pick up where the other driver's insurance policy left off, potentially covering the remaining $25,000 of damages.
It's important to note that UIM is an optional coverage in Missouri, meaning that it is not required by law, but it can be added to your policy by request. It's also to be noted that UIM coverage does not take effect until after the liability coverage has been exhausted. It means that UIM coverage will only kick in after the other driver's liability coverage is used up or not enough.
If you are considering purchasing UIM insurance in Missouri, it's a good idea to talk to your insurance agent or attorney to understand the specific details of the coverage and how it works in your state. It's also important to know that the cost of UIM coverage will vary based on factors such as the limits of coverage you choose and the insurance company you use.
In our experience it is very tough to get a fair settlement value in your case when you have UIM coverage in the mix. Some insurance companies require an affidavit from the other insurance company and permission before you can obtain your UIM coverage; a tricky trap that many fall into and subsequently get denied coverage. Apex Law knows the ins and outs of the confusing UIM procedure and can help you maximize the recovery in your case.
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