If you live in Las Vegas and own a car, you may know that you are required by law to carry liability insurance, in the amount of at least $15,000 per person/$30,000 per accident, before you can legally register a vehicle. The reason for this is so that if you are in a car accident and it is your fault, there will be insurance proceeds available to cover the damages of the other party involved in the accident. What many drivers don’t realize, however, is that if you only have liability insurance, but do not purchase uninsured or underinsured motorist coverage, then while other drivers are protected from you, you have no protection in return.
That is where the benefits of underinsured/uninsured (UIM/UM) insurance arise. Unfortunately, many people do not know what this coverage means and therefore usually do not get it. As a result, many people injured or damaged in a car accident in Nevada are undercompensated for their damages. Most attorneys only seek damages from the negligent driver’s insurance policy, and drivers are only required to carry $15,000 of coverage per person per incident. Unfortunately, in many cases, the at-fault party has the minimum $15,000 in coverage, and the damages are multiples of that figure. Even worse, sometimes the negligent driver in an accident has no insurance coverage at all. To be sure, in 2012 more than 12 percent of drivers on Nevada roads were driving without insurance coverage.
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The Importance of Coverage to “Fill the Gap”
The above is a terrible situation for a driver; with tens of thousands of dollars in medical bills, lost wages, etc. and only $15,000 in collectible insurance coverage as partial reimbursement, or even worse, no insurance coverage because the negligent driver was uninsured. To avoid being left without a means of paying for damages caused by the negligence of another driver, it is imperative that you purchase UM coverage.
Uninsured motorist coverage does not generally apply to property damage, but it does provide recovery if you are injured by an uninsured driver. Specifically, this coverage reimburses you for reasonable and necessary medical expenses, general damages (pain and suffering) and wage loss caused by an accident with an uninsured or underinsured motorist. Under the Nevada statute, if you have uninsured motorist coverage, you also have underinsurance coverage.
The UIM coverage is triggered in the event your damages exceed the policy limits of the at-fault driver’s insurance policy, up to the limits of your coverage. As such, if you purchase $15,000 of uninsured motorist coverage/underinsurance coverage, and you have an accident with another party that has this amount of insurance as well, you will be able to collect $30,000 collectively ($15,000 from the at-fault driver’s policy and $15,000 from your own uninsured motorist coverage).
Naqvi Law Is Here to Help
If you have questions about UM/UIM insurance, don’t hesitate to reach out to an attorney. The experienced personal injury attorneys at Naqvi Injury Law are standing by to help you with your UM/UIM claim. Call or email us today for your no-obligation consultation.