UNinsursed and UNDERinsured Motorist Bodily Injury and Property Damage Coverages

Hello, Thank you for reading my blog today. I’m going to talk about two optional coverages that are very important. They are Uninsured and Underinsured Motorist Bodily Injury and Uninsured and Underinsured Motorist Property Damage. We are going to go over what each of these coverages do, how to read how much coverage you have and why it is a good idea to have them.

Uninsured and Underinsured Motorist Bodily Injury is intended to cover damages of bodily injury that you and other passengers in your vehicle are legally entitled to from another driver who is uninsured or underinsured. We all know that there are a lot of people that drive without insurance, despite Colorado Law to carry liability insurance. Uninsured and Underinsured Bodily Injury is what helps protect you against them. You want to insure yourself for just as much as you are going to insure someone else. From my liability blog you also know that most people do have insurance, but a lot of times it’s just not enough. Sometimes drives are just carrying liability at what the state requires them to carry which is $25,000 per person, not to exceed $50,000 per accident for bodily injury. This puts a lot of people at risk of being underinsured. Uninsured and Underinsured Motorist Bodily Injury does come in two different coverages, split limits and combined single limits. (CSL) This is an example of what split limits look like: 50/100. Coverage is in the thousands. This would read $50,000 per person and not to exceed $100,000 per accident. Here is an example of combined single limits: 500 CSL. This limit is also in thousands, so it would read $500,000. Uninsured and Underinsured Motorist Bodily Injury coverage will let you have as much coverage as the Liability coverage you are currently carrying. You may also elect to have a lower amount of coverage. Uninsured and Underinsured Bodily Injury coverage is not required by the State of Colorado. It is 100% elective.

Uninsured and Underinsured Motorist Property Damage is intended to cover damages to your property and the property of others in your vehicle at the time of loss that you are legally entitled to from another driver who is uninsured or underinsured. This is a great coverage if you are carrying liability only on a vehicle, especially if someone runs into your vehicle that has no insurance. This coverage will get your vehicle fixed and get you back on the road. Uninsured and Underinsured Motorist Property damage will offer you a specific dollar amount, or you can pay a deductible from $50 to $1,000. All of these are based off of actual cash value of your property. For those of you who are carrying comprehensive and collision coverage, you would not need to carry this coverage separately because this coverage is already built in and your deductible would apply.

I hope that you all have liked our blog let us know if you have any questions. Thanks again. Sterling Peaks Insurance: We take the confusion out of insurance.