Amounts payable in an UMP claim
If you have a claim, the total amount that you or anyone covered under your policy will receive from your Underinsured Motorist Protection will be the lesser of:
- the total amount of damages awarded to you as a result of the accident
- any amount assessed under arbitration
- $1 million
There's a long list of situations in which the amount you receive will be reduced by any amount you receive from another source. Some of them are:
- any amount payable under other ICBC coverage or from another insurer
- any amount payable from government programs such as Workers' Compensation
- any amount you can recover from a hit-and-run or uninsured motorist compensation fund in another jurisdiction [click for definition]
- any money paid by the owner of the at-fault [click for definition] vehicle
The bottom line is, you won't get paid twice for the same thing. That's just responsible management on our part of the money our customers pay as premiums. [click for definition]
