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- What Is Underinsured Motorist (UM/UIM) Coverage?
- What Factors Determine the Value of Your Underinsured Motorist Claim?
- How Do You File an Underinsured Motorist Claim in Minnesota?
- Why Your Claim May Be Worth More Than the Insurance Offer
- How Can a Minnesota Car Accident Lawyer Help You?
- Contact Sieben Alexander P.A. for a Free Consultation
- Related Reading:
Underinsured and uninsured motorist (UM/UIM) coverage provides financial protection in case you’re involved in an accident with a driver who lacks enough insurance to cover your damages. The amount you can recover depends on various factors, which we will explain in detail.
What Is Underinsured Motorist (UM/UIM) Coverage?
UM/UIM coverage kicks in when the at-fault driver’s liability insurance isn’t sufficient to cover your damages. Uninsured motorist (UM) coverage is used when the driver has no insurance at all. These policies help cover your medical bills, lost wages, and other damages resulting from the accident.
What Factors Determine the Value of Your Underinsured Motorist Claim?
The value of a UM/UIM claim is influenced by several factors, including:
- Severity of Your Injuries: The more severe your injuries, the higher the potential claim value.
- Medical Bills: The costs associated with your medical treatment directly impact your claim.
- Lost Wages: If you missed work due to your injuries, you can seek compensation for lost income.
- Long-term Disabilities: If the injury leads to long-term or permanent disability, the value of your claim increases.
How Does the Severity of Your Injuries Affect Your Claim?
Injuries, even short-term, can significantly affect the value of your claim, especially if they are severe. Compensation may include damages for pain and suffering, lost wages, and diminished earning capacity. Permanent disabilities or the inability to return to work can further increase the claim value. Additionally, the impact on your quality of life, such as being unable to participate in previous activities, can add value to the claim.
How Do Medical Bills Factor Into Your Claim?
Medical expenses are a key component of your claim. Insurance companies will closely review your medical bills, especially if your treatment includes surgeries, long-term care, or physical therapy. The higher the medical bills, the more compensation you can typically claim.
How Do You File an Underinsured Motorist Claim in Minnesota?
Minnesota law requires UM/UIM coverage with a minimum of $25,000 per person and $50,000 per accident, though you can purchase higher limits. Here’s how to file a claim:
- Exhaust Other Coverage: You must first exhaust the at-fault driver’s insurance before using your own UM/UIM coverage.
- File with Your Insurance Company: Submit your claim to your insurance company, providing evidence of your damages, including medical records, police reports, and witness statements.
- Settlement Offer or Denial: Your insurer will review your claim and may make an initial offer. You have the right to negotiate if the offer doesn’t fully cover your damages.
Why Your Claim May Be Worth More Than the Insurance Offer
Insurance companies often prioritize saving money over fairly compensating victims. Their initial offer might be much lower than what you’re entitled to. By consulting with an experienced attorney, you can negotiate for a higher settlement and increase your chances of getting fair compensation.
How Can a Minnesota Car Accident Lawyer Help You?
Working with an experienced car accident lawyer can significantly increase the value of your claim. Lawyers know how to deal with insurers who try to undervalue your claim and can help ensure you receive the full compensation you deserve. Our skilled attorneys at Sieben Alexander P.A. can guide you through the process and fight for your rights.
