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What is UM coverage?

April 26, 2017coverage UM

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What is UM coverage?

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UM/UIM, which stands for “underinsured/uninsured” motorist coverage. This is insurance coverage that you purchase from your automobile insurance company to protect you in the event that you are hurt at the hands of an uninsured or under insured driver. Here’s how it works: Let’s say that you were involved in a car accident, and the person who caused the accident has no insurance. If you sustain injuries from the accident, your company will pay for some of your medical expenses and wage loss under your personal injury protection coverage. However, if you have damages above and beyond what your PIP has paid and you are legally entitled to recover further damages from the uninsured/underinsured party, your own company would pay you from your uninsured motorist coverage under your own policy of insurance.

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Uninsured Motorists coverage is defined as coverage that “pays the policyholder and passengers in his/her car for losses sustained by reason of bodily injury … caused by the owner or operator of an uninsured automobile or a hit and run driver.

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The Ohio Insurance Institute defines it as coverage that “pays the policyholder and passengers in his/her car for losses sustained by reason of bodily injury … caused by the owner or operator of an uninsured automobile or a hit and run driver.