The most important part of your car insurance, UM/UIM. There are different options you can get with your car insurance such as comprehensive coverage, medical payments, etc., but the most important thing you can get is Unisured/Underinsured coverage. So why is Uninsured/Underinsured coverage so important to have on your plan? To begin, 1 out of 6 drivers in Colorado does not have car insurance. After that, state minimums are $25,000.00, therefore if you are in the hospital at all, you have likely far surpassed that amount. Underinsured/Uninsured covers you and everyone in your house (resident/relatives) if you are walking, if you are biking, if you are driving, it doesn’t matter, you are covered.
One recent case I had was a client who was hit while on a bicycle and had $260,000.00 in medical bills, however the person who hit my client only had $100,000.00 in car insurance. I was able to stack insurance policies to ensure that my client was fully compensated. You are able to stack policies by:
1. Owner of the Car’s Insurance
2. Driver of Car’s Insurance (if different)
3. Uninsured/Underinsured Motorist Coverage (UM/UIM)
a. Your Car (s)
b. Driver or Car’s Insurance (If Different)
c. Company Cars
Since this client had Uninsured/Underinsured coverage, the policies can be stacked so that the client is more than compensated for his injuries.
So, if you put a claim on your Uninsured/Underinsured will it raise your rates? The answer is no, there is an insurance regulation that specifically says that unless the accident is your fault and you put a claim on your Uninsured/Underinsured, your rates cannot raise nor can your policy be canceled.
The most important part of your car insurance, UM/UIM. There are different options you can get with your car insurance such as comprehensive coverage, medical payments, etc., but the most important thing you can get is Unisured/Underinsured coverage. So why is Uninsured/Underinsured coverage so important to have on your plan? To begin, 1 out of […]
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Expert witnesses are different than lay or “normal” witnesses because they are allowed to share their opinion on a matter. Lay witnesses are only able to testify as to what they saw or what they heard. Under the Colorado Rules of Evidence 702, Expert witnesses are defined as “A witness qualified as an expert by […]
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The answer in nearly every case is, yes! First, if you are representing yourself you have the lowest level adjusters who have only minimal authority and really don’t know the law. Almost every insurance company has higher tier adjusters when an attorney is involved. There are different adjusters based upon their experience level, the more […]
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Co-Vid19 Legal Questions FAQ: What should you do if you have been injured or in a car wreck during this time? First of all, you should still seek medical treatment if you were just injured in a car wreck. If you have already done some treatment and do not continue to seek treatment, this could […]
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Do you want to get the maximum settlement from a car accident? There are Colorado laws in place to help injured people get fully compensated. One of those laws is called the Collateral Source Doctrine which states that if a collateral source (namely your health insurance company) reduces a billing then the person who caused […]
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