Nevada underinsured motorist coverage (“UIM”) is a topic that not everyone understands. This is particularly true with people who have never used the UIM portion of their insurance policy. At Rise Legal – Steve Dixon Law, we help clients understand UIM and its possible application in their case.
So what is UIM? Underinsured or even uninsured motorist insurance is an additional type of coverage. It can be purchased with your standard car insurance policy. Purchasing UIM will increase your premium rate, but having it can be a huge benefit. This is because UIM is triggered when the car that hits you has a minimal policy in effect but your medical bills are much higher than what the at fault driver has available. Thus, the purpose of a UIM policy is to give you additional coverage. Especially if your damages sustained in an accident exceed the policy limits of the at fault driver.
It is mandatory for insurance companies in Nevada to offer UIM coverage. (Nev. Rev. Stat. Ann. 687B.145(2)). However, each individual gets to decide whether or not they actually want to pay for that coverage. In Nevada there is another requirement that the minimum amount of UIM coverage that can be offered must at least equal the underlying bodily injury limits. Since Nevada’s laws recently changed and a person must now carry $25,000 of minimum insurance, UIM coverages also increased to a minimum of $25,000. (Nev. Rev. Stat. Ann. 690B.020(2)). Finally, Nevada limits the ability of a party to recover against UIM coverage to compensatory damages. Compensatory damages include pain and suffering, medical expenses, lost wages, etc. It does not include recover for punitive damages.
If you have questions about Nevada underinsured motorist coverage in your accident, don’t hesitate to contact us. Rise Legal – Steve Dixon Law has recovered hundreds of thousands of dollars for our clients in underinsured motorist coverage. Call now for your free consultation (702) 329-4911.