Your insurance may be denying your rightful benefits
When a driver that hits you doesn’t carry any insurance – or not enough insurance – they are considered an uninsured motorist (UM) or underinsured motorist (UIM). One in every six drivers, or about 600,000 people, are driving around in Colorado without any insurance. That’s a scary fact, and it’s why you should pay for UM / UIM coverage protection on your car insurance policy.
If you have this type of coverage, your medical bills, pain and suffering, and other losses may be covered, even if you are hit by an uninsured or underinsured driver.
Let’s take a look at one scenario. You are hit by a driver who has only $25,000 in liability insurance coverage, but you have $50,000 in medical bills. If you have $100,000 in UM / UIM protection on your own car insurance policy, there is a total of $125,000 ($25,000 from the other driver plus $100,000 from your own policy) in insurance benefits that are available to pay for your medical bills, pain and suffering, lost wages, and other damages. But if you don’t have any UM / UIM coverage, the other driver’s $25,000 is the only insurance money that you can get, which will not even cover your $50,000 of medical bills. This is why it is so important to always include UM / UIM coverage on your own auto policy.