Property & Casualty Exam Prep 31, Uninsured and Underinsured Motorist Coverage

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Uninsured Motorist (UM) coverage applies when the at-fault driver has no insurance or is a hit-and-run driver. - Underinsured Motorist (UIM) coverage is triggered when the at-fault driver has insurance, but not enough to cover your bodily injury damages. - The primary focus of UM/UIM coverage on the exam is bodily injury (medical bills, lost wages), not property damage to your vehicle. - UM/UIM is first-party coverage that protects you, the insured, whereas liability coverage protects the at-fault driver by paying for damages to others. - A key exam trap is the UIM payout calculation; it typically pays the difference between your total damages and the at-fault driver's liability payment, up to your UIM policy limit. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep