Understanding Uninsured And Underinsured Motorist Coverage In Colorado
One of the most important and most misunderstood types of coverage available to Colorado drivers and motorcyclists is uninsured and underinsured motorist coverage, commonly referred to as UM/UIM. If you are injured in an accident caused by a driver who has no insurance or not enough insurance to cover your losses, this coverage can be the difference between full recovery and paying out of pocket for injuries that were not your fault.
For Automobile Drivers: What Colorado Law Requires
Colorado Revised Statute 10-4-609(1)(c) governs uninsured and underinsured motorist coverage for automobile drivers and provides important protections that many policyholders are not aware of. Under this statute:
UM/UIM coverage shall be in addition to any legal liability coverage and shall cover the difference, if any, between the amount of the limits of any legal liability coverage and the amount of the damages sustained, excluding exemplary damages, up to the maximum amount of the coverage obtained.
A single policy or endorsement for uninsured or underinsured motorist coverage issued for a single premium covering multiple vehicles may be limited to applying once per accident. Critically, the amount of coverage available under this section shall not be reduced by a set-off from any other coverage, including but not limited to legal liability insurance, medical payments coverage, health insurance, or other uninsured or underinsured motor vehicle insurance.
The statute also provides that uninsured motorist coverage shall include coverage for damages for bodily injury or death that an insured is legally entitled to collect from the owner or driver of an underinsured motor vehicle. An underinsured motor vehicle is defined as a land motor vehicle the ownership, maintenance, or use of which is insured or bonded for bodily injury or death at the time of the accident, but at limits insufficient to fully compensate the injured party.
For Motorcycle Riders: Why UM/UIM Coverage Is Even More Critical
Uninsured motorist coverage provides a motorcyclist with financial compensation for medical treatment, pain and suffering, and loss of enjoyment of life resulting from an accident caused by an uninsured driver. Underinsured motorist coverage fills the gap between what the at-fault driver’s insurance can pay and the full amount required to compensate you for your injuries and losses.
This is especially critical for motorcyclists, who are always exposed to severe and often catastrophic injuries in any collision with another vehicle. Without question, anyone riding a motorcycle should carry a high limit of uninsured and underinsured motorist coverage. It is not difficult to imagine a serious injury where $500,000 in coverage may not be enough. Do not gamble on the other driver having sufficient liability coverage to fully compensate you. UM/UIM coverage is a personal coverage that protects you and your passengers regardless of what the at-fault driver carries.
There may also be other insurance coverages available to help pay for your injuries that you are not aware of. An experienced motorcycle accident attorney can review all available coverage sources and make sure nothing is left on the table.
Avoid Quick Settlements
After any serious motorcycle accident, be very cautious about accepting a quick settlement offer from any insurance company. Early settlement offers are almost always far below the true value of a claim, particularly when the full extent of your injuries has not yet been determined. Accepting a settlement too soon can significantly discount your claim and permanently foreclose your ability to obtain additional compensation later, even if your medical condition worsens or new complications arise.
If your insurance company is not cooperating, delaying your claim, or pressuring you to accept less than you deserve, you may be dealing with bad faith insurance practices. Under Colorado law, an insurer that unreasonably delays or denies a valid claim can be held liable for twice the covered benefit plus attorney fees. Understanding what damages you are entitled to recover before accepting any offer is one of the most important steps you can take to protect yourself.
Contact Our Colorado Springs Motorcycle Accident Attorneys
If you have been injured in a motorcycle accident, contact a qualified Colorado Springs motorcycle accident attorney before making any decisions about your claim. We are available 24/7 for free consultations and will review all available coverage sources to make sure you receive the full compensation you deserve. Call us today at (719) 578-1106. Do not settle for less than you are owed.
