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What is Underinsured Motorist Insurance Coverage?

Underinsured motorist coverage is important because it provides financial protection in the event that you are involved in an accident with a driver who has insufficient insurance coverage to fully compensate you for your injuries and damages. Here are some key reasons why underinsured motorist coverage is valuable:

  1. Inadequate Liability Coverage: Many drivers carry only the minimum liability insurance required by law. If you are involved in a serious accident with a driver who has low coverage limits, their insurance may not be enough to cover your medical expenses, lost wages, and other damages.

  2. Medical Expenses and Rehabilitation: If you sustain injuries in an accident, you may require extensive medical treatment, including hospital stays, surgeries, rehabilitation, and ongoing care. Underinsured motorist coverage can help bridge the gap between the at-fault driver's limited coverage and the actual cost of your medical expenses.

  3. Lost Wages and Future Earnings: Serious injuries can result in time away from work, leading to lost wages. Underinsured motorist coverage can provide compensation for your lost income during the recovery period. Additionally, if your injuries result in a diminished earning capacity or the inability to work in the future, underinsured motorist coverage may help compensate for the potential loss of future earnings.

  4. Property Damage: Underinsured motorist coverage can also help cover the cost of repairing or replacing your vehicle if it is damaged in an accident with an underinsured driver.

  5. Peace of Mind: Having underinsured motorist coverage gives you peace of mind knowing that you have an additional layer of protection in case you are involved in an accident with a driver who lacks sufficient insurance coverage. It helps ensure that you can receive fair compensation for your injuries and damages, even if the at-fault driver's insurance is inadequate.

It's important to review your insurance policy and consider including underinsured motorist coverage to protect yourself against potential financial hardships resulting from an accident with an underinsured driver. Consult with your insurance provider or an insurance agent to understand the coverage options available and determine the appropriate coverage limits based on your needs.

Contact an Auto Accident Lawyer in Colorado Today

If you've been in an auto accident and are considering filing a lawsuit, contact one of our personal injury attorneys at Hagen Nares PLLC today for a Free Consultation. We can answer your questions, put together a strong case, and fight for the compensation you deserve. Call 720-772-8513 today or fill out our online form today.

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