What Is UM/UIM Coverage and Do Motorcyclists Need It?
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What is UM/UIM coverage and do motorcyclists need it?
The term UM refers to uninsured motorist coverage, and UIM refers to underinsured motorist coverage. While a motorcyclist is not required by New Jersey law to carry UM/UIM, it is a very important aspect of keeping you safe in the event of an accident. UM/UIM can make a difference between you being able to pay your medical bills or not.
Consider this scenario. You are involved in a motorcycle accident and it is not your fault. The driver that hit you has either no insurance at all or carries the minimum amount of insurance, which is $15,000. If sued, the driver’s insurance company only pays out the $15,000. This does not cover much if you are seriously injured.
If you have UM/UIM it means you can sue your own insurance carrier for the additional amount of funds needed – up to the maximum of your policy. While opting out of UM/UIM coverage saves you money upfront, not having the coverage should you be seriously injured in an accident can leave you struggling financially or in debt.
It is ultimately your choice. Be aware that you are not allowed to register a motorcycle in New Jersey unless you have at least the minimum amount of motorcycle insurance, which is:
• $15,000 for bodily injury per person
• $30,000 for total bodily injury per accident
• $5,000 for property damage
You do have choices when purchasing insurance and you can choose coverage that takes care of you if you are at-fault, or coverage that helps if you are seriously injured and not at-fault for the accident. From long years of experience in handling motorcycle accidents, we strongly suggest you buy as much insurance as you can. It is better to be completely protected than to discover later that the minimum insurance barely covers medical costs.
Other Motorcycle Accident FAQs:
- Do I Need to Have a New Jersey Motorcycle License to Ride My Bike?
- How Do I File A Personal Injury Claim After A Motorcycle Accident?
- How Is Fault Determined in a Motorcycle Accident?
- What Are The Most Common Motorcycle Injuries?
- What Causes Motorcycle Accidents?
- What Is UM/UIM Coverage and Do Motorcyclists Need It?
- What Kinds of Injuries are the Most Common in Motorcycle Accidents?
- What Should I Do After A Motorcycle Accident?
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Being injured or having a family member injured can have serious and lifelong consequences. We can try to ease the burden. Contact us today to learn more about how our team of experienced New Jersey accident attorneys can support you through these challenging times.