What is Uninsured and Underinsured Accident Coverage?
Uninsured or underinsured motorist protection applies if the at-fault driver has no liability insurance following an accident. Underinsured motorist protection applies when the at-fault driver does not have enough insurance to cover all the damages he caused. This coverage will provide payment for medical bills and prescriptions, lost wages due to time missed from work, future medical bills, pain and suffering, and mental anguish up to the bodily injury policy limits.
Uninsured Motorists in Albuquerque
Motorists in New Mexico must carry a minimum amount of insurance for bodily injury and property damage in an accident. Although these terms can vary from state to state, in New Mexico the amounts are firm and enforceable. Those minimum insurance amount coverages are as follows:
- $25,000 per person for bodily injury or death;
- $50,000 per accident for bodily injury or death; and
- $10,000 per accident for property damage.
To protect people from injuries and damages by uninsured motorists, the state of New Mexico requires that insurance companies give people the option of obtaining uninsured motorist coverage. This coverage can cover the cost of any injuries or property damage that result from an accident. New Mexico motorists can waive the coverage if they wish, but they can only do so in writing. This means that someone may have uninsured and underinsured motorist coverage without even knowing it.
New Mexico Has a High Rate of Uninsured and Underinsured Motorists
Believe it or not, a recent study by the Insurance Research Council found that New Mexico has the 4th highest rate of uninsured or underinsured motorists. In fact, 21.6% of New Mexico drivers do not have liability insurance even though it is required by the law. In many car Albuquerque car accident cases, the other driver will often have little or no insurance coverage.
However, a personal injury lawyer will always tell you that it’s a smart policy to add in order to protect yourself. Uninsured and underinsured motorist coverage protects you and any of your passengers if the negligent driver has no insurance following an accident. Uninsured or underinsured motorist coverage can also provide coverage if you’re injured in a hit and run accident. However, it’s important to remember this coverage will not apply to any vehicle damage unless you have uninsured or underinsured property damage coverage on your policy.
Discuss Your Uninsured Motorist Case With An Albuquerque Car Accident Lawyer
Our experienced New Mexico personal injury lawyer at Garcia Legal is prepared to help you recover the compensation you deserve. We team can provide you with the representation you need if you have been involved in a car crash with an uninsured motorist. Call Jonathan Garcia today for a free consultation and to discuss your case in more detail.