posted 01-22-2009 08:15 AM                  

Umbrella policy sounds reasonable,,,,if you don't have to buy all the extra coverage to get it.

posted 01-22-2009 11:00 AM                  

quote:

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Originally posted by SuperDave:
FWIW - If you carry collision coverage on a car you don't need uninsured/underinsured coverage for it. Collision coverage states that your car will be repaired if it is in a wreck, it can be used regardless of fault or the other person's coverage. If you don't have collision then uninsured/underinsured coverage is recommended. The insurance companies won't pay you twice for an accident, don't pay them twice for double coverage!

Dave

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Uninsured/Underinsured has nothing to do with Colllison insurance it is only for Bodily Injury coverage. We are a little different in Michigan as we have No fault insurance the only time you can sue someone is if the hit you and there is serious imparement permant disfigurement or death. If the person that hit you has no insurance then what ever judgment you get on him will be paid by your own insurance company and then they go try to collect the money they gave you from the uninsured motorist. If the other guy has say 20,000 in coverage and you get a 100,000 judgement then his company pays you 20,000 and your company pays you 80,000 and then will try to collect the 80,000 from the guy that did not carry enough coverage this is called the underinsured motorist coverage and AC you need to call your agent too and have him explain it better yet call your insurance company direct and ask them to explain it to you as it sounds to me that your agent dosen't know what the coverage is (probally trying to protect his claims ratio) good luck! please let me know what you find out

posted 01-22-2009 09:51 PM                  

The short version: If my car is hit by someone that doesn't have insurance or doesn't have enough insurance my car will be repaired by my collision insurance. Any medical bills for my family will be paid in full by my health insurance (I don't carry PIP or Medical Payments either). Uninsured/underinsured motorist coverage will not help me in any way.

Be sure you are getting what you pay for, I agree that many insurance agents don't know enough about the laws in their states.

BTW - I also have a $1M umbrella policy, that could be priceless with two soon-to-be-driving teens in my house. They required an upgrade from my 100/300/100 liability limits to 300/500/300, but those changes were nominal.