The difference between UM and UIM — and what it means when you’re on the road
You never know when you might get in an auto accident — or who the other driver will be. According to the Insurance Research Council, one in seven drivers doesn’t carry auto insurance. If your car is hit by one of those drivers, it could mean substantial costs to you.
That’s where uninsured motorists and underinsured motorists coverage come in. They often are built right into your auto policy, although the coverage requirements vary by state.
Uninsured Motorists coverage (UM) protects you if your vehicle is hit by a driver without auto insurance, or if you’re involved in a hit and run. Your insurance will pay for medical bills and lost wages for you, your family members, and/or other passengers in the vehicle at the time of the accident, up to your limits.
Underinsured Motorists coverage (UIM) applies when the driver who causes the accident has liability insurance, but the limits aren’t high enough to cover the damages. In this case, the other driver’s insurance would pay first, and your UIM coverage would make up the difference in costs, up to your limits.
So where do you set the limits for UM and UIM? Insurers typically recommend matching the amount of bodily injury liability coverage included on your auto policy, but you should work with your insurance agent to determine the right amount for you.
It’s important to note that UM and UIM usually don’t cover property damage to your vehicle. You would need to submit a collision claim to your own policy, and it would be subject to the deductible. However, if available, you can choose to add UM property damage to your auto policy for an additional premium.
Check your policy and talk to your insurance agent to make sure you have the appropriate coverage.
Delayed flights and lost luggage often headline the list of concerns for travelers, but they are minor inconveniences compared to severe illness, missing prescriptions, or serious injury away from home.
The time to prepare for sickness is before germs hit your team. Illnesses can happen anytime, but flu season generally peaks between December and February, although it can stretch from October through May. Consider how you canprevent an outbreak and how you can respond quickly to limit the impact and costs to your business.
When Jenny VanDeHei left for college to study business, she thought she had picked her last stone and fed her last calf. She loved the family farm she grew up on, but she saw her future as an accountant, in an office building in the city, far from the country fresh smell of cow manure.
When you’re born into a farm family, on the job training begins the moment you can walk. You learn quickly where it’s safe to play, not to startle the animals, and that there’s always a way you can help – no matter your age. Curt Weis, Manager – Farm and Agribusiness Training, can attest to this because he earned his keep by working on his family’s farm right up until he left for college.
Patti Lemke, Sr. Agribusiness Underwriter, spent her entire young life living and working on a farm. Her parents owned and operated a small farm in Eden, Wis. that milked 65 cows in a stanchion barn, and she worked on a large dairy farm that milked 700 head from the time she was 14 until she left for college.