What does UIM mean? Read on to discover the definition & meaning of the term UIM - to help you better understand the language used in insurance policies.
An underinsured motorist endorsement is an attachment or added provision to an automobile insurance policy. It provides coverage to the policyholder and any passengers in the event of an accident caused by a driver without adequate coverage. In most cases, there is a gap between the insurance coverage of the other driver and the benefit payable under the underinsured motorist coverage. The underinsured motorist endorsement pays for the difference between the two and is subject to the maximum limit of coverage.
We hope the you have a better understanding of the meaning of UIM.