Excess uninsured motorist coverage is an endorsement that can be added to an umbrella insurance policy to provide additional uninsured motorist coverage above the policyholder’s current limits. Excess uninsured motorist (UM) coverage might also refer to higher-than-required UM limits on an auto policy.
Additionally, in Georgia, excess uninsured motorist coverage is a subcategory of uninsured/underinsured motorist insurance that allows drivers to file a claim up to their policy limits regardless of how much the underinsured, at-fault driver’s liability insurance paid out.
Uninsured motorist coverage is a type of car insurance that pays for the policyholder’s injuries or property damage after an accident caused by an uninsured or underinsured driver. Almost half of the states require some form of UM insurance. However, a serious accident can surpass a state’s required UM limits, leaving the policyholder to cover the cost. As a result, some insurers offer higher limits, or excess uninsured motorist coverage.
An excess uninsured motorist coverage endorsement means that policyholders can file a claim with their umbrella policy if their bills from an accident with an uninsured motorist exceed their car insurance policy’s UM limits. Umbrella policies are inexpensive and usually cover at least $1,000,000. They are generally purchased by people with a high net worth.
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