An option in an automobile insurance policy that covers damage done by another...
Underinsured motorist coverage is a clause in motor vehicle insurance policy stating that if the owner of a vehicle or its passenger is injured by another driver for reasons of negligence, and that negligent driver is without liability insurance, the first party's insurance company will pay damages to its insurer.
An automobile policy option which covers one for property damage and bodily injury caused by another motorist whose coverage is insufficient to cover the damages one has suffered. see also uninsured motorist coverage, insured.
covers the insured when involved in an accident with a driver who has auto liability insurance, but the limits are insufficient to compensate for damages.
A coverage in an automobile insurance policy under which the insurer will pay damages up to specified limits for bodily injury, if the limits of liability under the liable motorist's policy are exhausted and he/she cannot pay the full amount he/she is liable for.
A coverage in an automobile insurance policy under which the insurance company will pay damages to the insured for which another motorist is liable if the motorist causing an accident has lower bodily injury liability limits than your UIM limits. The maximum dollars paid is then the difference between the two limits.
A coverage that reimburses the insured for the difference between the actual damages sustained by the insured for bodily injury and the amount of liability insurance which meets the state_s minimum financial requirements carried by the driver who was at fault, up to the limits of the insured_s Underinsured Motorist coverage.
This coverage can be added to the policy to supplement the uninsured motorist coverage. The coverage must be added to all automobiles listed on the policy. It must be added for the same limit as the Uninsured Motorist Coverage. Underinsured motorist coverage applies when a negligent driver has liability limits at the time of an accident but the liability limits carried may be insufficient to pay for damages for which the negligent driver is responsible. This is when the insured's underinsured motorist coverage would apply and payment for the difference could be made. The two coverages are mutually exclusive and do not overlap or duplicate each other. An insured can collect under one coverage or the other but not under both. Back to list of terms.
A form of insurance that pays the policyholder and passengers for bodily injury caused by the owner or operator of an uninsured or inadequately insured automobile.
In Pennsylvania, optional insurance that provides protection to purchaser of said coverage and relatives living in his household who suffer injury caused by the negligence of another driver who does not have enough insurance to pay for all losses and damages. Underinsured motorist coverage can be stacked.
coverage that protects you if you are in an accident in which damages exceed the coverage held by an at-fault motorist.
Pays for bodily injury or wrongful death caused by an underinsured motor vehicle (that is, a vehicle which is insured, but at an amount that is less than your uninsured motorist bodily injury (UMBI) limits).
Coverage an insured may purchase to protect his or her own self from damage or injury caused by a negligent party who does not have adequate limits of insurance to cover the loss.
Coverage is intended to cover you and passengers in your car for losses unpaid because sufficient bodily liability limits are not available from the policy of an at-fault driver. How and under what circumstances the coverage becomes operative varies in different states.
A form of insurance which provides coverage when the liability coverage of the at-fault party is inadequate to cover the amount of damages or injuries.
This part of your auto policy protects you when the driver of the other car does not have enough insurance coverage to pay all your medical bills.
Provides coverage for an Insured who is involved in an accident with an underinsured motorist when the bodily injury liability limits of the motorist at fault are not sufficient to meet the medical expenses arising out of the accident.
Part of a standard auto insurance policy that provides coverage for losses you and others suffer when you're involved in an accident with a "hit-and-run" driver, or a driver without adequate insurance (or with no insurance).