In Serra v. Estate of Broughton, a case from the Supreme Court of Oklahoma, plaintiff was from Spain and was in the United States as a foreign exchange student. She was riding in her friend’s car when they were involved in a serious car accident. The other vehicle in the accident was a motorcycle being operated by a man who was killed in the accident.
Following the accident, she filed a claim for uninsured or underinsured motorist coverage. This is also known as UM/UIM coverage. Under the law, owner of a vehicle is required to have liability insurance. This is car insurance designed to pay for for personal injury and property damage to others. This will not for pay damage to your own car. This type of insurance is known as collision coverage. It is not required by law, but if you owe money on your car, the bank will probably require to you have collision as well to cover the cost of their collateral. Continue reading