The Importance of Uninsured and Underinsured Motorist Coverage for Business Vehicles

Uninsured motorist (UM) and underinsured motorist (UIM) coverage may help reduce financial loss if your business vehicles are involved in an accident with an at-fault driver who has no insurance or lacks liability coverage to pay for the damage.

Why Is This Coverage Important for Nevada Businesses?

Uninsured motorist and underinsured motorist coverage may provide the following benefits:

• Preventing financial loss—Without UM/UIM coverage, you may have to pay out-of-pocket for medical expenses and your vehicle’s repair costs after an accident, even when someone else was responsible.
• Providing wage and income benefits—UM/UIM coverage may help pay for medical treatments and replace lost wages if your employees are injured in an accident caused by an uninsured or underinsured driver.
• Safeguarding business assets—Without proper coverage, an accident can have a major impact on your bottom line. The financial security from UM/UIM coverage can help your business recover faster and keep it running smoothly.

What Do I Need to File a UI/UM Claim?

To file a UI/UM claim, you’ll need to provide your insurance company with key documents that prove the details and impact of the accident. This often includes a copy of the police report, your insurance policy information and a written account of the crash. Include photos of the scene, vehicle damage and any injuries. Gather the contact information of the other driver and any witnesses.

You’ll need to submit medical records and bills for any injuries, along with repair estimates or proof of your vehicle’s value if it is totaled. If the at-fault driver was underinsured, include documentation showing their policy limits and any settlement details. Once you have these materials ready, contact your insurer to begin the claim process and follow their instructions to move your claim forward.

We’re Here to Help

Affordable Insurance works closely with Nevada business owners and fleet managers to assess risks and recommend appropriate coverage. Contact us today to learn more.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.