5,109
edits
Line 404: | Line 404: | ||
==== a) What is UMP Coverage? ==== | ==== a) What is UMP Coverage? ==== | ||
UMP coverage is part of the basic compulsory coverage motorists have with ICBC. It provides compensation against bodily injury or death for the victim of an accident caused by a motorist who does not carry sufficient insurance to pay for the claims. | UMP coverage is part of the basic compulsory coverage motorists have with ICBC. It provides compensation against bodily injury or death for the victim of an accident caused by a motorist who does not carry sufficient insurance to pay for the claims. The maximum coverage under UMP is $2,000,000 (which an insured must pay an extra premium to purchase) for each insured person (Schedule 3, s 13 of the IVR). This limit includes claims for prejudgment and post-judgment interest and costs. See section 148.1(5). | ||
==== b) Prerequisites for UMP Coverage ==== | ==== b) Prerequisites for UMP Coverage ==== |
edits