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re: Uninsured motorist bodily injury coverage
Posted on 1/19/17 at 12:24 pm to LSUsmartass
Posted on 1/19/17 at 12:24 pm to LSUsmartass
quote:
I read and understood Uninsured motorist bodily injury only covers your medical bills and nothing else...then there is uninsured economic loss that covers other things, which I don't currently carry.
No, economic only is cheaper UM and covers less than regular UM. Economic only UM only covers things that you can put an actual dollar figure behind (medical bills, wages, and other actual expenses related to the injuries sustained in the accident). You can also get pain and suffering with regular UM, you can't get pain and suffering with economic only.
Basically, you can have regular UMBI or UMBI economic only...not both because its duplicates coverage. Regular UMBI covers everything economic only does, plus pain and suffering.
1
Posted on 1/19/17 at 12:28 pm to LSUsmartass
Question - If you get rear-ended, end up with a herniated cervical disc, and need surgery and spend a year or two in pain and your case is worth $500,000 - will you be happy getting $15k for your pain and suffering or do you want more?
Posted on 1/19/17 at 12:41 pm to LSUsmartass
Your medical insurance (Healthcare coverage) does not cover the injuries to non-family members who might be in your car when you're hit by an uninsured driver. Uninsured Motorists - Bodily injury coverage will pay for their injuries up to your UMBI limit. Like the other guy said "You need it".
Posted on 1/19/17 at 12:42 pm to LSUsmartass
It's only helpful IF you would like The option to "sue" your own policy for pain and suffering in the event that you are hit and hurt by an uninsured or underinsured motorist in Louisiana.
If you have a great health insurance plan, uninsured motorist is just lagniappe.
If you have a great health insurance plan, uninsured motorist is just lagniappe.
This post was edited on 1/19/17 at 12:43 pm
Posted on 1/19/17 at 12:47 pm to Tiger Prawn
I have a question regarding this. If carrying collision and comprehensive, is carrying UM redundant?
Posted on 1/19/17 at 12:51 pm to LSUsmartass
quote:
Is it redundant to carry 50/100 in uninsured motorist bodily injury if you have great medical insurance?
no. Medical insurance does not pay for pain and suffering or lost wages.
Economic only UM is a crap product.
Posted on 1/19/17 at 12:51 pm to TheBoo
quote:
I have a question regarding this. If carrying collision and comprehensive, is carrying UM redundant?
No, not redundant at all. Collision and Comp are first party insurance for property damage only, when there is no one else at fault, or the fault was yours. UM covers your damages when someone else was at fault, but they were not properly insured.
Posted on 1/19/17 at 12:52 pm to TheBoo
quote:
I have a question regarding this. If carrying collision and comprehensive, is carrying UM redundant?
I'll answer, just in case you were actually being serious.
Comprehensive and collision coverage or completely different van uninsured motors coverage. If you were hit by somebody without insurance, your vehicles damages will be paid for by your collision coverage, meaning that you will still be subject to whatever your collision deductible is. If you don't have collision coverage and you were hit by somebody without insurance, you will not have coverage for the damage to your vehicle.
The only time, and I do mean the only time, that uninsured motorist coverage pays for the damage to your vehicle is if you happen to have no collision or comprehensive coverage and you have uninsured motorist property damage coverage. This is the coverage that you specifically have to ask for.
This post was edited on 1/19/17 at 12:53 pm
Posted on 1/19/17 at 1:05 pm to LSUsmartass
As a lawyer, having UM coverage is important. The most common UM claims I deal with in SC tend to be John Doe claims, where a motorist is injured due to the negligence of a driver who is unidentified, either because the unidentified motorist flees or legally drives away because there was no contact with another vehicle.
As far as having good health insurance, I'll give you an example. Let's say you get in a wreck with an unknown driver and have $60k in medical bills. Let's also say you have good health insurance and $100k in UM coverage. Your health insurance will likely cover all of your medical expenses and you will likely be able to collect the UM policy limits. While your health insurer will have a subrogation lien on the settlement, you can usually satisfy the insurance lien for 25-50% of the total amount. After lawyer fees, this still leaves you with between $40k and $50k after the case is over.
As far as having good health insurance, I'll give you an example. Let's say you get in a wreck with an unknown driver and have $60k in medical bills. Let's also say you have good health insurance and $100k in UM coverage. Your health insurance will likely cover all of your medical expenses and you will likely be able to collect the UM policy limits. While your health insurer will have a subrogation lien on the settlement, you can usually satisfy the insurance lien for 25-50% of the total amount. After lawyer fees, this still leaves you with between $40k and $50k after the case is over.
This post was edited on 1/19/17 at 1:06 pm
Posted on 1/19/17 at 1:10 pm to SCLibertarian
people are missing the bigger picture.
If your health insurance is out of pocket 75k for your injuries, you are recouping 75k from your UM policy, not just "what you were out of pocket". Your insurance is your business.
If your health insurance is out of pocket 75k for your injuries, you are recouping 75k from your UM policy, not just "what you were out of pocket". Your insurance is your business.
Posted on 1/19/17 at 1:22 pm to Chad504boy
Does UM cover you in an Uber? Someone said they carry only $5k insurance for medical bills in accidents.
Posted on 1/19/17 at 1:24 pm to Chad504boy
And most health insurers won't subrogate against your auto policy.
Posted on 1/19/17 at 1:34 pm to TheBoo
quote:
I have a question regarding this. If carrying collision and comprehensive, is carrying UM redundant?
Absolutely not, covers completely different things.
UM covers bodily injury to you or your passengers caused when other driver was at fault and either didn't have insurance or didn't have enough insurance for severity of injuries.
Comprehensive and collision cover physical damages to your vehicles. Your collision coverage would apply in a case where the other driver was at fault but was either uninsured or under-insured, and collision coverage applies to your own vehicle when you're at fault.
If you dropped collision coverage on your vehicle, you have the option to buy Uninsured Motorist Property Damage (UMPD) which would cover damage to your car in the event it was hit by an uninsured driver.
Posted on 1/19/17 at 1:34 pm to pensacola
quote:That 5K is probably Med-pay. The vehicle will have some level of liability. If the driver is at fault, you can collect that, plus stack your personal UM on top of that. You cannot stack the Uber's UM(If any) because that driver cannot be both an insured and an underinsured under the same policy.
Does UM cover you in an Uber? Someone said they carry only $5k insurance for medical bills in accidents.
Posted on 1/19/17 at 1:35 pm to CaptainsWafer
quote:I've never seen one actually challenge UM. First party vs. first party. They go after liability quite often.
And most health insurers won't subrogate against your auto policy.
Posted on 1/19/17 at 1:36 pm to AlxTgr
Yea I'm talking Med Pay/UM.
Posted on 1/19/17 at 1:38 pm to CaptainsWafer
I've always told them to piss up a rope and they go away.
Posted on 1/19/17 at 1:59 pm to poops_at_parties
quote:
just in case you were actually being serious.
Yea I was being serious. I'm not a SME in auto insurance.
Posted on 1/19/17 at 2:01 pm to Motorboat
How are the online companies dealing with selection/rejection forms?
Posted on 1/19/17 at 2:03 pm to LSUsmartass
FYI, you are not required to be in your car when injured for UM to provide coverage. it covers when someone causes injury to you with a car through their fault and they don't have any/enough insurance. you can be asleep in your bed and get hit by a drunk driver and UM provides coverage.
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