Is there any reason to get uninsured motorist bodily injury insurance? | Page 5 | TigerDroppings.com

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yellowfin
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re: Is there any reason to get uninsured motorist bodily injury insurance?


I read his post but if I have a paralyzed kid is 100k going to make that much difference? It may help a little but I'd likely be looking at expenses in the millions





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OTIS2
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re: Is there any reason to get uninsured motorist bodily injury insurance?


Make your choice, under that hypo, you'll have 100,000.00 to cover uninsured expenses incurred by your child's injury, or you won't. Pay for your hotel bills out of pocket while you miss work to be by her side in the hospital...in rehad...cover your missed income out of pocket, too. Your choice. Remodel the house so she can be semi-self sufficent in the bathroom and bedroom...the kitchen too, but do it out of pocket, because your health policy won't do it...it's your choice. Cheap..dirt cheap coverage...it's your choice.


This post was edited on 12/5 at 8:31 am


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yellowfin
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re: Is there any reason to get uninsured motorist bodily injury insurance?


quote:

Cheap..dirt cheap coverage...it's your choice.



it was over $200 per vehicle every 6 months when I declined it






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TulaneUVA
Virginia Fan
Member since Jun 2005
20845 posts

re: Is there any reason to get uninsured motorist bodily injury insurance?


So yellow, you're in the same boat as me I suppose except I don't even have a kid or wife...so I just have to be concerned with myself.

So for just me, my long term disability for work is the following:

quote:

If your disability is expected to last at least six months, you may be eligible for long-term disability benefits if your employment ends as a result of the disability. The long-term disability target is to replace XX% of your last monthly benefit pay.
Based on your monthly benefit pay as of December 31, 2011, if your employment ends as a result of disability, your estimated long-term disability benefit from all sources to which 'my company' contributes will be at least $X,xxx each month as long as you remain disabled.


The only thing UMBI will help me with is to recover pain and suffering.

So the choice is mine (and yours). Pay $200 for each car every 6 months for insurance against pain and suffering...or deal with it. I'll be okay with my long term disability.



This post was edited on 12/5 at 8:59 am


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OTIS2
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re: Is there any reason to get uninsured motorist bodily injury insurance?


Shop around. I have 250,000/500,000 with a 1,000,000.00 umbrella...cost $243 per vehicle per year for UM. First America is my carrier. Next to my health insurance, this is the most important policy I choose to buy.





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udtiger
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Louisiana
Member since Nov 2006
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re: Is there any reason to get uninsured motorist bodily injury insurance?


Well...it could be that over 35% of vehicles on Louisiana's roads have NO insurance at all and probably that same amount have minimum limits insurance.

You get fricked up in an accident, your medical bills are only part of the picture, and that treatment is subject to the deductibles, co-pays and limitations of your A & H policy. What about the 3 months you can't work? What if you are fricked up and can never go back to your old job and old income? Your health insurance isn't going to do anything for you there.






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TulaneUVA
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re: Is there any reason to get uninsured motorist bodily injury insurance?


quote:

What about the 3 months you can't work? What if you are fricked up and can never go back to your old job and old income? Your health insurance isn't going to do anything for you there


Read my above post again.






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OTIS2
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re: Is there any reason to get uninsured motorist bodily injury insurance?


What's your short term coverage and eligibility requirements? He didn't pose a long term scenario.


This post was edited on 12/5 at 8:55 am


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TulaneUVA
Virginia Fan
Member since Jun 2005
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re: Is there any reason to get uninsured motorist bodily injury insurance?


The point is, my work benefits are the tits and I don't have to worry much about 'losing my job' via disabilty. Even then, $25-100k isn't going to do anything to help that even if I didn't have these benefits

quote:

Short-Term Disability
If you are unable to work due to illness or injury, short-term disability replaces a certain percentage of pay for a fixed period of time based on the following:
If the illness or injury is not related to your work, you are eligible for up to 8 weeks at full pay and 6 weeks at half pay. These benefits are based on your benefit service and monthly benefits pay as of December 31, 2011.



This post was edited on 12/5 at 8:59 am


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Chad504boy
New Orleans Saints Fan
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re: Is there any reason to get uninsured motorist bodily injury insurance?


quote:

Tbobby

Everyone who says yes does not know what UMBI is.

If you have health insurance, do NOT get UMBI.


has it been pointed out that you're an idiot yet?






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yellowfin
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re: Is there any reason to get uninsured motorist bodily injury insurance?


My State Farm agent is a really good friend and has been in the insurance business for 35 years so I'm not switching any time soon, we actually talked about it when I declined the coverage and he agreed that I don't need it. I can see why most people would carry it but it just seems excessive to me when I spend a lot of money on all this other coverage.

I'd say disability is the most important coverage behind health because everyone's biggest asset is their ability to produce income and when that's taken away how long is 100k gonna last?






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tigermaniac22311
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re: Is there any reason to get uninsured motorist bodily injury insurance?


It is perhaps one if the most important coverages you should obtain. In states like Louisiana where the vast majority of motorists are driving with minimum or no liability coverage it is enormously important, if you can afford it to buy, UM coverage. If you are disabled from working, medical and health insurance will not reimburse you for list wages/income. A bad accident can bankrupt you quickly.





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TulaneUVA
Virginia Fan
Member since Jun 2005
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re: Is there any reason to get uninsured motorist bodily injury insurance?


Jesus Christ people. How many people are going to say the same thing over and over again?





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Chad504boy
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re: Is there any reason to get uninsured motorist bodily injury insurance?


quote:

I have collision, health insurance, ST/LT disability, and Life.


Convince me to buy UMBI


Not always about you, about potential passengers injured in your vehicle in an accident whether your fault or not.






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TulaneUVA
Virginia Fan
Member since Jun 2005
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re: Is there any reason to get uninsured motorist bodily injury insurance?


quote:

Not always about you, about potential passengers injured in your vehicle in an accident whether your fault or not.


If it's your fault, then your base 'bodily injury liability' coverage will cover that.

If it's the uninsured motorists fault, then...well, they're shite out of luck. They are responsible for their own health coverage. It's not up to you to insure others. Why should you buy coverage for person x for the fault of person y...you're getting double whammy'd. As selfish as that sounds



This post was edited on 12/5 at 9:07 am


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yellowfin
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re: Is there any reason to get uninsured motorist bodily injury insurance?


I don't have any friend without medical coverage





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TulaneUVA
Virginia Fan
Member since Jun 2005
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re: Is there any reason to get uninsured motorist bodily injury insurance?


quote:

I don't have any friend without medical coverage


Oh, you fancy huh?







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Chad504boy
New Orleans Saints Fan
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re: Is there any reason to get uninsured motorist bodily injury insurance?


quote:

Jesus Christ people. How many people are going to say the same thing over and over again?



Couple points of emphasis, i think your 25/50 is too low no matter what. Spend the money to increase to 100/300 if you can. You can keep the 25/50 and decrease UM to 15/30. You should carry some UM, how much is up to you. If its not costing you much... carry it. It just gets expensive with some companies in some territories... then one has to weight the cost. Its not always about "i got health insurance".... its also about passengers in your vehicle that get injured too. And even if you health insurance pays your medical cost, you can still recoup all of your 100% medical bills in your UM even though health insurance company is paying for most of it. (try to not let them find out you were in accident! LOL)






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OTIS2
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re: Is there any reason to get uninsured motorist bodily injury insurance?


quote:

State Farm
Tried to get my business for years...could never match my independent guys rates. And, SF appears to have a policy to discourage the purchase of UM...there's a cost to the carrier when UM is retained by the customer...maybe that's part of the rationale for the policy. Hope you never have occasion to need the coverage.






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Chad504boy
New Orleans Saints Fan
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Member since Feb 2005
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re: Is there any reason to get uninsured motorist bodily injury insurance?


quote:

I don't have any friend without medical coverage



Really irrelevant. Your passengers can still recoup all of their medical expenses from you whether they got health insurance or not. Their health insurance is of no benefit to you. Then i know what your going to say next, we'll my friends won't do that to me. Well thats all fine and dandy then if that's how you want to roll. But like i just mentioned... your health insurance pays 30k of medical bills for you, you can recoup the 30k in UM if the other party is tapped out.






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