If you’ve been in a car accident caused by a driver who doesn’t have enough insurance to cover your injuries and damages, you may be able to file an underinsured motorist claim. But how much can I get from an underinsured motorist claim? There’s no simple answer, as the potential payout depends on many factors. This article will explain what an underinsured motorist claim is, what factors determine how much you can recover, and how making a claim works in Nevada.
What is an Underinsured Motorist Claim?
An underinsured motorist claim allows you to get compensation from your own insurance company if the at-fault driver’s policy limits are inadequate to fully cover your losses.
For example, suppose the at-fault driver has $25,000 in bodily injury liability coverage but your medical bills and lost wages alone amount to $100,000. In that case, you would be entitled to get the $25,000 from the at-fault driver’s insurance, and then file an underinsured motorist claim with your insurance provider for the additional $75,000.
So, in essence, an underinsured motorist claim protects you when the person who caused your injuries does not carry enough insurance to fully compensate you.
Factors That Determine Your Potential Payout
There is no set formula for calculating underinsured motorist claim payouts. The amount you can recover will depend on several key factors:
- The severity of your injuries and damages
- The insurance limits of the at-fault driver
- The underinsured motorist coverage limits you carry
- Your comparative negligence, if any
- The insurance laws and regulations in your state
Let’s take a closer look at how each of these factors can impact your potential claim payout.
The Extent of Your Injuries and Damages
The more severe your injuries and damages, the higher the value of your underinsured claim. Make sure you document all of your accident-related losses, which may include:
- Medical expenses (ambulance, hospitalization, procedures, rehabilitation, medications, etc.)
- Lost income due to missing work
- Loss of future earning capacity if you cannot work again
- Property damage (vehicle, cell phone, laptop, etc.)
- Pain and suffering
The insurance company may need solid evidence like medical records, income tax returns, property repair bills, and medical evaluations to properly value your damages.
Limits of the At-Fault Driver’s Policy
Find out exactly how much coverage the at-fault driver has for bodily injury liability. This number serves as the base amount you can get from their insurer. If it does not satisfy your total damages, you can then seek additional compensation from your UIM policy.
For instance, the at-fault driver has $50,000 in liability coverage and your damages equal $150,000. You would get the $50,000 from their insurer and then file a UIM claim for $100,000.
Your Underinsured Motorist Coverage Limits
Check your own auto policy to confirm your UIM coverage limits. This is the maximum payout the insurance company is obligated to pay you. Make sure you have adequate UIM limits to cover potential losses. UIM coverage is not mandatory in Nevada, but it provides valuable protection.
Comparative Negligence
Nevada uses a comparative negligence system, which means you can still recover damages even if you played a part in the cause of the accident. However, your payout will be reduced by your percentage of fault.
For example, if you are 20% responsible for causing the accident, your UIM recovery will be reduced by 20%. So, if your damages are assessed at $100,000, but you are 20% negligent, your UIM claim value will be lowered to $80,000. If you are more than 50% at fault, you are unable to make a claim in Nevada.
State Laws and Regulations
Insurance laws vary by state, so Nevada’s regulations will impact your UIM claim. Some key provisions include:
- UIM coverage is optional in Nevada.
- Nevada is a comparative negligence state.
- There are no time limits for filing UIM claims in Nevada.
An experienced motorcycle accident lawyer Henderson can help you navigate Nevada’s UIM laws and maximize your payout.
How to File an Underinsured Motorist Claim
Follow these basic steps if you want to submit a UIM claim in Nevada:
- Promptly report the accident to your insurance company. Provide details about the cause, injuries, and property damage.
- Have the insurance adjuster evaluate your claim and damages. Give them documentation to support your losses.
- Settle with the at-fault driver’s liability insurer. Their policy limits are paid out first.
- If that payout does not adequately cover your damages, file a claim with your UIM insurer for additional compensation.
- Negotiate your UIM claim. Your insurer may make a settlement offer, which you can accept or reject.
- If you cannot reach a fair settlement, consider pursuing arbitration or filing a lawsuit against the UIM insurer.
It is wise to consult with an attorney before settling any insurance claim. A lawyer can deal with the insurers on your behalf and make sure you receive full and fair compensation.
Should You Hire a Lawyer for Your UIM Claim?
Pursuing an underinsured motorist claim without legal representation can be challenging. An experienced Nevada attorney can help by:
- Determining exactly how much coverage you have and interpreting policy provisions
- Investigating the accident and gathering evidence to prove damages
- Negotiating optimal settlements from the at-fault driver’s insurer and your UIM insurer
- Handling paperwork, communications, and hearings
- Taking the claim to arbitration or litigation if needed
Although legal fees will reduce your total payout, having a skilled Henderson motorcycle accident lawyer fighting for you often results in far higher claim recovery compared to handling it alone.
Get a Free Consultation from Karns & Karns Personal Injury and Accident Attorneys
If you or a loved one has been injured in an auto accident caused by an underinsured driver in Nevada, contact the legal team at Karns & Karns Personal Injury and Accident Attorneys for a free case evaluation. For years, our dedicated attorneys have helped clients recover millions in compensation for their injuries and losses. Call 800-4THE-WIN (800-484-3946) or contact us online to schedule a no-obligation consultation with a skilled Nevada attorney.
