Underinsured Motorist Coverage
- Underinsured Motorist Coverage
- An auto insurance policy provision that extends coverage to include property and bodily damage caused by a motorist with insufficient insurance. Underinsured motorist coverage is designed to provide the injured party with compensation above what is alloted by the at-fault party's policy.
State laws typically require all motorists to have some form of auto insurance, although it is difficult for those states to maintain 100% compliance. Some drivers will purchase only the minimum amount of coverage required by law. The addition of underinsured motorist coverage usually adds only a nominal expense to the general insurance coverage.
Investment dictionary.
Academic.
2012.
Look at other dictionaries:
Underinsured Motorist Coverage Limits Trigger — One of the two triggers that can be specified by an insured party to protect against losses caused by an accident with a driver who has insufficient insurance. The underinsured motorist coverage limits trigger ensures that in the event of an… … Investment dictionary
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underinsurance — un·der·in·sur·ance /ˌən dər in shu̇r əns/ n 1: insufficient insurance 2: insurance coverage protecting usu. against uninsured or underinsured motorists by compensating the insured if the tortfeasor s liability policy limits fall short of the… … Law dictionary
Assigned risk — means a driver of a motor vehicle, or a class of such drivers, who would be denied insurance coverage by insurance companies, but are required to be covered under U.S. state law. [See [http://www.thefreedictionary.com/assigned+risk Free… … Wikipedia
