Auto Insurance terms starting with U

13 terms

  1. Umbrella Liability Insurance A policy that "floats" above your other coverage. You must carry a certain amount of underlying liability coverage before you may buy an umbrella policy.
  2. Underinsured Motorist (UIM) This covers bodily injury losses for you or your passengers if you are hit by an at-fault motorist who does not have enough insurance to cover your claim.
  3. Underinsured Motorist Bodily Injury (UIM) Coverage Pays the difference between your UIM limits and the liability limits of the at-fault driver, if lower than your UIM limits.
  4. Underinsured Motorist Bodily Injury Coverage (UIM) Is coverage for any bodily injury resulting from the operation of a motor vehicle, which is covered under a liability policy at the time of the injury…
  5. Underwriter An individual in an insurance company who determines what insurance risks will be accepted and on what terms.
  6. Underwriting The purchase for resale of a new issue of securities by an investment dealer or group of dealers.
  7. Unearned premium The portion of the premium for the remaining time period that the policy will not be in force.
  8. Uninsured Motorist (UM) This covers bodily injury for you or your family if you are hit by an at-fault uninsured motorist.
  9. Uninsured Motorist Bodily Injury (UM) Coverage Covers you for your bodily injury caused by a hit-and-run driver or an at-fault driver who has no auto liability insurance.
  10. Uninsured Motorist Property Damage Insurance (UMPD) Covers damage to your vehicle caused by an identified, at-fault, uninsured driver.
  11. Uninsured motorist protection Covers the insured and family members if injured by a hit-and-run motorist or a motorist without liability protection, if the other driver is at fault.
  12. Uninsured/underinsured motorist (UM/UIM) coverage Pays for your injuries and property damage caused by a hit-and-run driver or a motorist without liability insurance.
  13. Unsatisfied judgment fund A special fund which, subject to several restrictions, pays individuals for bodily injury arising out of the use of a motor vehicle for their damages if…