In New Mexico, over 30 percent of car accidents, motorcycle accidents, and truck accidents are caused by drivers without state-required minimum liability coverage. In response to this statistic, New Mexico required insurance companies to offer uninsured motorist coverage with their policies.
What is Uninsured Motorists Coverage?
Uninsured motorist coverage is coverage that provides the driver/policyholder insurance coverage in the event they are injured or receive other property damages caused by a negligent, uninsured driver. In New Mexico, auto insurance providers are required to include this clause with the standard auto-insurance premiums.
Do I Need Uninsured Motorists Coverage?
Without uninsured motorist coverage, the costs of your injuries, your passengers' injuries and property damages can mount quickly. Without uninsured motorist coverage, your health insurance may provide coverage for your injuries. However, your passengers may not have health insurance to cover their injuries. If you wish to protect yourself from the risk of extensive medical debt, uninsured motorist coverage is necessary.
Can I Waive Uninsured Motorist Coverage?
In some cases, insurance companies will sell drivers auto insurance without uninsured motorist coverage to get the lowest possible premium. These policies are called liability only policies. For an insurance agent to sell you this type of coverage they must do the following:
- Offer the coverage and explain the cost
- You must sign a waiver stating you were offered uninsured motorist coverage and you declined coverage.
If both criteria are fulfilled, you have waived you uninsured motorist coverage.
What Damages can an Albuquerque personal injury lawyer help me recover?
If you suffered injuries as a result of a negligent, uninsured driver you can recover compensation for the following:
- Past and future medical expenses
- Pain and suffering
- Lost wages/earnings
- Permanent disability or injury
Unlike an insured motorist accident case, your own insurance carrier is responsible for covering the cost of the damages that would have been paid by the at-fault driver. While you are not required to contact an attorney to settle your claim, statistics show that those who work with an attorney often receive significantly higher settlements. For more information on how our Albuquerque personal injury attorney can help you with your personal injury case, contact our offices at (505) 559-4117.