But a solid liability policy supplemented by uninsured and
underinsured motorist protection at least ensures that the covered policy holder will be protected in all liability instances.
Arbitrator associated with BCICAC in arbitration of insurance coverage disputes, agency disputes and underinsured motorist protection claims
If you are seriously injured by a motorist in B.C., whose coverage is not sufficient to cover your damages, then there is something
called underinsured motorist protection (UMP) that would cover you for up to $ 1 million dollars.
On top of that, each Lawrence car insurance policy along with every other policy written in the state must contain at least $ 25,000 per person and $ 50,000 per accident in uninsured and underinsured motorist protection [1].
Underinsured motorist protection works in a very similar way, except it works as a secondary source of compensation to be paid out only after the at fault driver's liability coverage has been exhausted.
Uninsured and
underinsured motorist protection put coverage into place for dealing with the expenses that an at fault uninsured driver normally would have to cover if he was insured.
And uninsured and
underinsured motorist protection handle financial issues that can come up when you are struck by an uninsured driver or someone whose policy is not enough to handle all the costs associated with your care.
Selective Insurance Senior Vice President Sharon Cooper characterizes uninsured /
underinsured motorist protection as «an important coverage for consumers because it protects them in situations they can't plan for.
However, if the person who is responsible for the motor vehicle accident does not have additional insurance, and the Basic Autoplan coverage is not sufficient to pay for a claim,
Underinsured Motorist Protection will cover you.
Any amount owed over and above the initial $ 200,000 policy is paid out the injured party's
underinsured motorist protection, if any.
Underinsured Motorist Protecton (UMP)
Underinsured Motorist Protection (UMP) is part of your ICBC insurance coverage.
If you have
Underinsured Motorist Protection, this may apply to your situation if the amount of your damages exceeds $ 200,000.
Underinsured motorist protection is very important because it can help an accident victim obtain compensation if the person responsible for the accident either does not have insurance or does not have enough insurance to cover the costs incurred.
Uninsured and underinsured coverage — When the other driver is not insured or does not have enough insurance to cover your losses, or when you are hurt in a hit and run,
your Underinsured Motorist Protection, Hit and Run, and Uninsured Motorist Protection should cover you.
If the other driver has no insurance,
your Underinsured Motorist Protection covers you for $ 1,000,000 or more.
It is also important for drivers to have uninsured and
underinsured motorist protection, and to confirm with their insurance companies that the coverage extends to hit - and run accidents.
In situations where there is not enough insurance coverage to pay the full extent of your damages, ICBC may have to compensate you for your damages under
the underinsured motorist protection («U.M.P.») plan.
As a resident of B.C., there was also up to a million in coverage under my wife's auto policy known as «
underinsured motorist protection.»