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| mspe01 | I hope this will open you eyes to check your auto policy for Uninsured/Underinsured Motorist coverage I carry 500,000 single limit liability w/uninsured/underisured motorist coverage at the same limit http://www.insurancejournal.com/news/national/2009/01/21/97117.htm This message has been edited by mspe01 on 01-21-2009 at 03:26 PM |
| alrtg | It's amazing just how many people drive with inadequate insurance these days.
I carry the highest possible coverage my insurance company offers which is the 500K, ($250.00 deductible)
I would go with double that if I could because even that may not be enough in some circumstances.
Of course maintaining an excellent driving record helps with the premiums.This message has been edited by alrtg on 01-21-2009 at 04:39 PM |
| George Johnson | Another worthwhile addition to your insurance policy is an umbrella rider for liability. I have a million dollar umbrella rider for $275/year. That is cheap if someone is trying to sue you. |
| alrtg | Thanks for the suggestion. |
| catfish | i dont think they inc.az.in that survey,we should be #1. ------------------
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| 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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| ed monahan | Here in Ohio the ONLY thing uninsured motorist coverage will cover is medical, not damage to your vehicle. |
| ALLEY CAT | same here... My agent always told me not to pay the extra for uninsured/underinsured coverage,,,,and he was my agent for over 30 yrs. Umbrella policy sounds reasonable,,,,if you don't have to buy all the extra coverage to get it. 
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| mspe01 | quote:
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
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 This message has been edited by mspe01 on 01-22-2009 at 11:02 AM |
| catfish | mspe01 is correct. ------------------
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| SuperDave | It appears that Michigan auto insurance rules are different than Texas auto insurance rules. If you browse through the link to the Texas information you'll find what I was attempting to explain above. Texas loves to be different in as many ways as possible... 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. Dave
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| mspe01 | Dave it wouldn't be a bad idea to carry some medical coverage to pick up things like ambulance and other things that your medical won't pay Knock on wood  |
