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The Importance of UM/UIM and MedPay Coverage

Bell & Pollock Blog

03/29/2024

Imagine you’ve been in a collision with another car, where you are completely stopped at a light and you are struck from behind. You have been severely injured due to the force of the collision. It is clear that the other driver is at fault. You already have the anxiety of facing your injuries and attempting to recover, but now you have learned that the person who hit you does not have car insurance. How are you ever going to find compensation for your injuries? How will you pay for your medical bills?

What is UM/UIM Coverage?

UM/UIM stands for uninsured or underinsured motorist coverage. UM/UIM coverage is provided by your own insurance in order to help protect you in the event that you are injured by a driver who either has no insurance, or not enough insurance to fully compensate you. For instance, imagine that, due to your collision, you now have $30,000 in medical expenses. This does not even take into account other facets of your injury, such as lost wages from missing work, mileage of travel to and from medical appointments, and pain and suffering. In the event that the driver who hit you does have car insurance, but their limits for bodily injury are only $25,000, their insurance will never be able to make you whole. In this case, the other driver is, by definition, underinsured.

In this case, if you do not have UM/UIM coverage, and the at-fault driver does not have significant personal assets, you may be limited to the available $25,000. If you do have this coverage, it will help to fully compensate you.

In Colorado, automobile insurance companies are required to offer this coverage, for a minimum of $25,000, unless you decline it in writing. Depending on the insurance company you choose, you may be able to obtain much more than $25,000 in UM/UIM coverage, which can help protect you if you are severely injured in a collision. Declining this coverage may seem like it will save a little money on your insurance bill every month, but it will leave you unprotected if you are hit by an underinsured or uninsured driver.

What is MedPay Coverage?

MedPay, or medical payment coverage, will help you with your medical expenses even if the at-fault driver has enough insurance coverage to fully compensate you. That being said, this coverage can be crucial for your compensation in the event that they do not have enough insurance coverage. MedPay will pay a certain amount of your medical expenses, depending on how much coverage you pay for in your insurance policy. Using MedPay will help to pay off the medical expenses, leaving more money in your pocket after settlement or final judgment.

Much like UM/UIM coverage, in the state of Colorado, insurance companies are required to offer a minimum of $5,000 in MedPay coverage, unless you decline this coverage in writing. Depending on the insurance company you choose, you may be able to obtain much more than $5,000 in MedPay. Once again, it may save a little money on your monthly bill to decline this coverage, but in the event that you are in a collision, not having this coverage can leave you undercompensated for your injuries.

If you’ve been injured in a car accident, you need someone on your side to help you navigate these issues. If you have been injured by a driver with no insurance or not enough insurance, call one of our attorneys so we can help you get compensation for your injuries.

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