Uninsured/underinsured (UM/UIM) motorist coverage provides financial protection if you get into an accident with a driver who doesn’t have enough insurance to cover your damages. There is no set formula for determining how much you can get from an underinsured motorist claim, but our Minnesota car accident attorneys can give you an idea of what to expect after reviewing your case. Contact us online or call (651) 360-2863 to learn about your legal rights in a free consultation.
- The amount you can get from an uninsured/underinsured motorist (UM/UIM) claim depends on your policy limits, as well as on your personal injury protection (PIP) coverage and the at-fault driver’s auto liability coverage.
- Your injury’s severity and the extent of your medical expenses will also affect the value of your UM/UIM claim.
- Initially, the insurance company will likely offer less than what your UM/UIM claim is worth, but you have the right to negotiate.
- Working with our Minnesota car accident lawyers can result in a higher UM/UIM settlement.
Key Factors That Determine the Value of Your Underinsured Motorist Claim
Various factors contribute to the value of a UM/UIM claim. Underinsured motorist (UIM) coverage pays for damages exceeding the at-fault driver’s auto liability coverage subject to your own policy’s limit. Similarly, uninsured motorist (UM) coverage pays when the at-fault driver doesn’t have any liability coverage.
An uninsured motorist property damage claim may factor in your vehicle’s value and repair costs. However, the most influential factors affecting your damages will be the severity of your injuries and the extent of your medical expenses.
Severity of Your Injuries
Even short-term injuries can result in high-value compensation, especially if they are severe. If you missed work while recovering from severe injuries, you could also receive compensation for your lost wages.
Severe injuries often result in long-term disabilities. If your injuries are permanently disabling or affect your ability to perform in your previous job, damages for lowered earning capacity can significantly increase your claim’s value.
You may also be compensated for the impact on your quality of life, especially if you’re unable to participate in activities you previously enjoyed. Severe, ongoing pain or permanent disfigurement can further increase your claim’s value.
Medical Bills
Medical expenses quickly add up after an accident. These, along with lost wages, are common economic damages awarded in insurance claims and lawsuits. Insurance companies know that economic damages reduce more easily to a monetary value than non-economic damages like pain and suffering, so their adjusters will closely examine your medical bills and other documentated expenses.
The medical treatment you receive will also affect your compensation. For example, surgery, ongoing treatment, and long-term physical therapy will be more expensive than a one-time visit to the doctor.
How To Collect Through an Underinsured Motorist Injury Claim
The legal minimum UM/UIM coverage in Minnesota is $25,000 per person ($50,000 per accident), but you can choose to purchase higher coverage. This coverage kicks in after an at-fault driver’s liability insurance coverage is exhausted. To collect through either your UM/UIM policy, you will need to file a claim with your own insurance company.
You’ll need to provide evidence of your damages and that you exhausted other coverage, including your mandatory personal injury protection (PIP) coverage. Key evidence may include police reports, medical records, witness statements, expert testimony, and documentation related to your liability insurance claim.
After analyzing your evidence, the insurance adjuster will make a settlement offer or deny your claim. You have the right to negotiate if their offer is less than the policy limit and does not adequately cover your damages. Our skilled attorneys can help you understand the terms of your policy and negotiate a fair settlement.
Your Claim May Be Worth More Than Insurance Tells You
Insurers prioritize their bottom lines over compensating injury victims fairly. While UM/UIM coverage exists to protect you after an accident, insurance adjusters will try to settle for the lowest amount possible. Their initial offer will likely be far less than what you’re entitled to for your damages, so negotiating for a higher settlement can pay off.
You have a higher chance of securing a fair settlement by consulting an experienced personal injury attorney. Our lawyers know how to negotiate with insurers and counter their underhanded tactics designed to minimize the value of your claim. Working with a lawyer can result in significantly more compensation for your car accident injuries than you’d receive on your own.
Our Minnesota Car Accident Attorneys Will Fight for You
At Sieben Polk P.A., we’ve successfully helped countless car accident victims secure high-value case results through UM/UIM claims. If you suffered a car accident injury due to someone else’s negligence, let us put our extensive experience to work for you. Contact us online or call (651) 437-3148 to schedule a free consultation. We are here to ensure you know your full legal rights and options.
