Underinsured Motorist Coverage
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Definition of '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.
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Investopedia explains 'Underinsured Motorist Coverage'
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.
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Search results for 'Underinsured Motorist Coverage'
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http://www.investopedia.com/articles/pf/06/carinsurance.asp
... (For additional reading, check out Fighting The High Costs Of Healthcare.)
-Uninsured/Underinsured Motorist Coverage: This option provides for medical and ...
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http://www.investopedia.com/university/insurance/insurance3.asp
... Common Types of Coverage: Auto insurance typically covers personal injury (PIP),
medical payments, uninsured motorist, underinsured motorist, auto rental ...
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