Should I Use My Uninsured or Underinsured Motorist Coverage (UM / UIM Coverage)?
Clients sometimes do not want to submit a claim on their Uninsured or Underinsured Motorist Coverage because their think it will result in an increase in their own insurance costs. This should not be a concern. The Colorado Division of Insurance forbids insurance companies from penalizing injured people who collect money under an UM / UIM policy. If you have been injured and the at-fault party has no insurance, or very little insurance, then you should submit a claim under your UM / UIM policy. Your insurance company cannot raise your rates or refuse to renew your insurance policy because of that claim.